WASHINGTON: Troubled German lender Deutsche Bank on Wednesday (Thursday in Manila) agreed to pay a $9.5 million penalty after US securities regulators accused it failing to safeguard market-sensitive information.
The penalty comes with investors on tenterhooks as the capital-weak Frankfurt bank negotiates a multi-billion-dollar settlement with the US Justice Department over the bank’s trading in toxic mortgage-backed securities prior to the global financial crisis of 2008.
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