Deutsche Bank Settles New York Forex Probe for $205 Million
- Bank says traders shared client information in chat rooms
- Deal comes years after rivals pleaded guilty to end DOJ probes
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Deutsche Bank AG agreed to pay $205 million to settle a long-running investigation of its foreign exchange trading by New York’s banking superintendent, resolving one of several remaining regulatory issues that have dogged the bank in the U.S.
Employees at the bank participated in multiparty chat rooms where they shared confidential client information, discussed the coordination of trading activity and attempted to manipulate foreign exchange prices or benchmark rates, according to New York’s Department of Financial Services. The bank acknowledged those actions, which occurred from 2008 through 2013, in a consent order filed Wednesday.