DB - Deutsche Bank fined EUR 8.66M by BaFin on weak rate data controls

Germany's financial regulator fines Deutsche Bank (NYSE:DB) EUR 8.66M ($9.8M) for having weak controls on European reference rate data, according to a release. Note that Deutsche Bank (DB) is a supervised contributor to Euribor, a European interbank reference rate. "The bank at times did not have in place effective preventive systems, controls and policies within the meaning of Article 16(2)(a) of the European Benchmarks Regulation," the release says. The bank has the option to appeal against BaFin's administrative fine order. Previously, (Aug. 28, 2018) Deutsche Bank agreed to pay $70M to settle an ISDAFIX manipulation case.

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Deutsche Bank fined EUR 8.66M by BaFin on weak rate data controls