Deutsche Bank has sent official information to the regulator BaFin (Institut die Bundesanstalt für Finanzdienstleistungsaufsicht) for doubtful operation carried out by their own branch in Moscow.
The deal is the purchase of derivative financial instruments worth several hundred million EUR by OTC market (in RUB) and selling them after a few seconds - again OTC, but in London (for GBP). The origin of the money is not specified. Are not established and price differences between the two markets, allowing that the motivation of the transaction is arbitration income. It is believed that if Deutsche Bank has complied with the requirements, such a deal would not have to be accomplished. Germany's Manager Magazin has sought the opinion of BAFIN, but was denied comment. Another fact is that the headquarters of Deutsche Bank in Frankfurt am Main already present investigators and forensic experts from London and New York.
In connection with the incident Deutsche Bank officially told the public only that is ongoing internal investigation and several bank officials have been removed temporarily. Interestingly, however, that the Supervisory Board and Management Board of the Bank, together with President Paul Achleitner soon to gather at the annual general meeting of shareholders. Commentators expect a lot of heated debate.
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