Deutsche Bank to settle following alleged swap rule failures

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Deutsche Bank will pay $2.5m to settle U.S. regulatory claims that the bank repeatedly violated reporting requirements for derivatives and neglected to fix the problem until being told of a government investigation.

Bloomberg News reports that the bank’s data systems led to tens of thousands of errors in reports on interest-rate, credit and other derivatives from January 2013 through July of this year, the Commodity Futures Trading Commission said in a statement on Wednesday.

Deutsche Bank, which was aware of the violations in 2013, didn’t take sufficient steps to resolve the problems until the CFTC’s enforcement division said it was investigating the matter last year, the agency said.

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

Deutsche Bank Will Pay $2.5 Million to Settle Swap Rule Failures

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