{"id":16026,"date":"2014-08-28T12:49:41","date_gmt":"2014-08-28T12:49:41","guid":{"rendered":"https:\/\/new.igihe.com\/deutsche-bank-in-mis-reporting-fine\/"},"modified":"2014-08-28T12:49:28","modified_gmt":"2014-08-28T12:49:28","slug":"deutsche-bank-in-mis-reporting-fine","status":"publish","type":"post","link":"https:\/\/new.igihe.com\/english\/deutsche-bank-in-mis-reporting-fine\/","title":{"rendered":"Deutsche Bank in Mis-Reporting Fine"},"content":{"rendered":"

The London branch of Germany’s Deutsche Bank has been fined \u00a34.7m by UK regulators for inaccurate reporting.<\/p>\n

The Financial Conduct Authority (FCA) said the bank mis-reported 29m transactions between November 2007 and April 2013.<\/p>\n

“There is simply no excuse for Deutsche’s failure to get this right,” said the FCA in a statement.<\/p>\n

Deutsche Bank said it had undertaken a “complete review” of its reporting systems to rectify the problem.<\/p>\n

The mis-reporting involved “contracts for difference” – a derivative that lets people bet on share price movements.<\/p>\n

“We have repeatedly highlighted the importance of accurate transaction reporting and taken enforcement action against a number of firms, ” said Tracey McDermott, the FCA’s director of enforcement and financial crime.<\/p>\n

“Other firms should be in no doubt about our continued focus on this issue,” she added.<\/p>\n

The FCA has already fined 10 other firms for breaching transaction reporting rules.<\/p>\n

Deutsche Bank’s fine was reduced by 30% because it agreed to settle at an early stage, although the FCA said the size of the fine reflected the number of mis-reported transactions.<\/p>\n

The FCA said it had previously warned Deutsche in private about similar transaction reporting failures.<\/p>\n

Deutsche Bank said: “In March 2013 a software coding issue in our reporting system for certain CFD and swap transactions was identified. We immediately undertook a complete review of our transaction reporting systems to rectify the problem and strengthen our control framework.”<\/p>\n

\"\"<\/figure>\n

wirestory<\/p>\n","protected":false},"excerpt":{"rendered":"

The London branch of Germany’s Deutsche Bank has been fined \u00a34.7m by UK regulators for inaccurate reporting. The Financial Conduct Authority (FCA) said the bank mis-reported 29m transactions between November 2007 and April 2013. “There is simply no excuse for Deutsche’s failure to get this right,” said the FCA in a statement. Deutsche Bank said […]<\/p>\n","protected":false},"author":3,"featured_media":2000053691,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[101],"byline":[170],"hashtag":[],"class_list":["post-16026","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-internationl","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":{"id":2000053691,"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton16026.jpg","alt":"","caption":"","mime_type":"image\/jpeg","width":0,"height":0,"sizes":{"thumbnail":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton16026.jpg","width":1,"height":1},"medium":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton16026.jpg","width":1,"height":1},"medium_large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton16026.jpg","width":1,"height":1},"large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton16026.jpg","width":1,"height":1},"full":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton16026.jpg","width":0,"height":0}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/16026","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=16026"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/16026\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media\/2000053691"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=16026"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=16026"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=16026"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=16026"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=16026"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}