German Regulators to Visit Deutsche London Office

Representatives from Germany’s financial watchdog Bafin will visit the London offices of Deutsche Bank, the country’s biggest lender, as it steps up investigations into alleged currency market manipulation, a source familiar with the process said on Monday.

This follows Deutsche’s suspension last week of traders in New York and mirrors the arrival of U.S. regulators in London last week at Citigroup’s London headquarters, marking an escalation in the global probe.

German magazine Der Spiegel reported on Sunday that Bafin was setting up a so-called special investigation, putting the case at the top of its priority list.

Bafin was not available for immediate comment.

Deutsche Bank declined to comment, and referred Reuters to a previous statement that it is cooperating with those investigations, and will take disciplinary action with regards to individuals if merited.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza