New York’s banking regulator has asked Deutsche Bank for e-mails, memos, client lists and other details as part of an effort to survey how broadly a set of suspicious trades extended beyond the bank’s Moscow office, according to a person briefed on the matter.
Bloomberg News reports that the formal request for information, which was sent last week, the person said, marks a deepening of the New York State Department of Financial Services’ probe into Deutsche Bank’s activities in Russia.
The DFS has been looking into whether people at the bank’s Moscow operation conducted trades that would help Russian clients skirt economic sanctions, the person said.
Bloomberg News reported June 5 that DFS was looking at unusual trading activity at the bank’s Russian unit.
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