Germany’s largest Bank Deutsche Bank fined in the US for $12.5 million This amount will be collected from the German Bank due to unauthorized distribution to employees of classified information about the market, follows from the statements of the service regulation of the financial services industry of the United States (FINRA).
German vigilante is accused of lack of control over sensitive data that is transmitted on the loudspeaker through the banking internal system of communication Squawk Box, according to DW.
As indicated in FINRA, contrary to the unequivocal prohibition of the Bank from 2008 to 2014 was not paying attention to the fact that the information goes also to those who have no official access to such data. While the FINRA is not able to reliably determine whether there has been abuse of these data by Bank employees.
Currently, the Bank assured the supervisors that the mechanism of the system will be changed so that US laws are not violated. Previously, the largest Bank of Germany has repeatedly issued fines in the US for various violations.
