Deutsche Bank investigates 'significant' Russia trades

Deutsche Bank - External

Deutsche Bank acknowledged for the first time that it is investigating a “significant” volume of suspicious Russian and U.K. equities trades, adding that it has already taken disciplinary action against a number of people.

Bloomberg News reports that the disclosure came as the lender reported $1.3bn in legal expenses during the second quarter, more than twice the $591.4m five analysts had expected.

The bank 'is investigating the circumstances around equity trades entered into by certain clients with Deutsche Bank in Moscow and London that offset one another', it said in the statement of second-quarter results. 'The total volume of the transactions under review is significant', the bank said, adding that many were cleared in U.S. dollars.

To access the complete Bloomberg News article hit the link below:

Deutsche Bank Takes Action on ‘Significant’ Russian Trades

Deutsche Bank Error Said to Lose Chat Logs Sought in Libor Probe

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News