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.
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