- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Deutsche Bank and its subsidiary, DB Group Services (U.K.), pleaded guilty to wire fraud for their role in manipulating the London Interbank Offered Rate and agreed to pay $775 million in criminal penalties to the Department of Justice, bringing the total amount of penalties against the bank to $2.5 billion. ...
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Germany’s market regulator BaFin imposed an administrative fine of 8.66 million euros (U.S. $9.8 million) on Deutsche Bank for breaches of the European Union’s Benchmarks Regulation.
The U.K. Serious Fraud Office has closed its investigation into manipulation of the London Interbank Offered Rate (LIBOR), ending a probe that began more than seven years ago.
The slow death of a critical benchmark interest rate will produce a series of compliance headaches for companies stretching over the next few years.
