Deutsche Bank Fined Over 'Squawk Box' Controversy
The Frankfurt-based investment bank is set to pay $2.5 billion after Finra raised new concerns over the release of private information.
U.S. regulators say they will be levying a $2.5 billion fine on Frankfurt-based investment bank Deutsche Bank (DB) - Get Report , over concerns surrounding its so-called 'squawk box' internal communications system. The Financial Industry Regulatory Authority (Finra) says it had issued 'multiple red flags' to Deutsche Bank, warning that the bank was broadcasting non-public information to its employees on its speakers. Finra also noted Deutsche Bank has failed to heed its previous warnings about the dissemination of private information. Despite the fine, Deutsche Bank shares were up Monday.
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