A client would ask Deutsche Bank in Moscow to buy Russian blue-chip stocks using roubles, for example, then shortly after another would tell Deutsche Bank in London to sell the same amount of shares at the same price for dollars. The parties often lost money on the deals due to fees and commissions. The regulators established that the deals covertly moved money from Russia to elsewhere in the world in a manner that could have been used for money laundering. DE , which has a large presence on Wall Street, said it regretted its role in the scheme and that it has since addressed shortcomings. The mirror scheme started in , as Deutsche traders struggled with a slowdown in business, in the wake of a slump in oil and gas prices as well as the aftermath of the global financial crisis.
According to the order, Wabtec will initially supply the components to 94 new trains. The bogie brakes help the London Underground with a weight saving of kg. Moreover, the sanding system will enhance safety by improving traction and adhesion in the demanding environment prevalent in London. These systems are designed to curb energy consumption.
Two big hedge funds unwind bets against Deutsche in sign of confidence
This scheme occurred while the bank was on notice of serious and widespread anti-money laundering compliance issues dating back a decade, said New York Department of Financial Services Superintendent Maria T. The U. Deutsche Bank DB, Deutsche Bank also points out the U.
Deutsche Bank employees around the world were sent home shortly after arriving on Monday as the lender began implementing a plan to slash 18, jobs and drastically cut down its investment banking division. Many worry about their future as the industry goes through upheavals. In the long shadow of the financial crash and a series of scandals, finance professionals, particularly investment bankers, have not drawn much sympathy over the past decade. Many of the people Deutsche Bank has made redundant are in its equities division - the part that buys and sells shares. This riskier part of the business is facing increased costs from new European regulations on share trading while the sector as a whole is dealing with upheavals emanating from Brexit.