Episode 183 -- Review of the Deutsche Bank FCPA and Spoofing Fraud Case
Compliance into the Weeds: Deutsche Bank Fined Over Epstein Accounts
Daily Compliance News: March 3, 2020, the Devil’s Advocate edition
The Supreme Court confirmed in Centrica Overseas Holdings Ltd v HMRC that the tests for trading and management expenses of a capital nature are the same. The decision also confirms that once a company has decided in principle...more
On December 14, 2023, the United States District Court for the Southern District of New York (the “Court”) granted an unusual ex parte application to serve third-party discovery subpoenas on U.S.-based Deutsche Bank entities....more
In Deutsche Bank AG v RusChemAlliance LLC [2023] EWCA Civ 1144, the English Court of Appeal granted an anti-suit injunction to restrain Russian court proceedings brought in breach of an agreement to arbitrate in Paris,...more
On September 11, 2023, the U.S. District Court for the Southern District of Florida denied Deutsche Bank’s request for a new trial and required the bank to pay pre-judgment interest following a verdict handed down in April...more
On June 30, in Deutsche Bank AG v. Central Bank of Venezuela, the Court of Appeal of England and Wales handed down the latest judgment in the ongoing battle between the board of the Central Bank of Venezuela, or BCV,...more
Between February 23 and March 3, three leading global financial institutions announced updated environmentally linked targets aimed at reducing by 2030 their financed emissions in carbon intensive sectors, including oil &...more
On February 7, a group of 30 investors, representing over $1.5 trillion of assets under management, wrote to the CEOs and board chairs of five major European banks “urging them to stop directly financing new oil and gas...more
Judge Jed Rakoff of the Southern District of New York issued an opinion last week on a motion to dismiss in a putative class action securities fraud case against Deutsche Bank (“DB”) and several current and former bank...more
Last week, the U.S. District Court for the Southern District of New York dealt a major blow to mortgage investors in two parallel actions pending for the past few years. The impact proved to be fatal to one of the actions,...more
The Justice Department trumpeted its criminal prosecutions against defendants charged with Libor-rigging. It had a right to toot its own horn. But many of these convictions have not withstood the scrutiny of appellate...more
The Wall Street Journal has reported on a government investigation into DWS, an entity that is majority-owned by Deutschebank, in connection with potential misrepresentations concerning the ESG investing strategy disclosed by...more
In a ruling that will provide guidance on when lenders must raise a foreclosure counterclaim in a borrower lawsuit, the South Carolina Court of Appeals in Deutsche Bank National Trust Company v. Estate of Patricia Ann Owens...more
After an eight-day trial, a federal jury convicted four California residents for their scheme to submit fraudulent loan applications seeking millions of dollars in the Paycheck Protection Program (PPP) and Economic Injury...more
In a significant departure from decades of restrictive population management efforts, China’s ruling party will now permit couples to have three children—“ending a two-child policy that has failed to raise the country’s...more
JPMorgan Chase has elevated two execs, Jennifer Piepszak and Marianne Lake, to top spots as joint heads of the firm’s “sprawling” consumer and community banking division ...more
Despite the reemergence of inflation and bubbles as the concerns-of-the-day that caused markets to quiver their way to a 3-month low yesterday, Fed officials remained committed to their “wait and see” strategy on removing...more
More details on that massive ransomware hack that hit Colonial Pipeline over the weekend. The FBI has confirmed that hacking group DarkSide was responsible and that it’s “looking for any ties the group might have to...more
Apple and Fortnite-maker Epic Games kick off their “high-stakes” trial over App Store fees, Apple’s payment system, and breach of contract. At the core of the dispute is Apple’s incredibly lucrative App Store, which charges...more
Securities Fraud on the Dark Web Using Bitcoin - For the first time, the Securities and Exchange Commission (SEC) has brought an action against an individual, James Roland Jones, in connection with activities on the dark...more
On February 18, 2021, the New York Court of Appeals’ consolidated resolution of four cases that answered two critical questions concerning the application of the statute of limitations in New York mortgage foreclosure...more
Deutsche Bank, the infamous German bank connected to former President Trump, settled FCPA and fraud cases with the Justice Department and the SEC, and agreed to pay a total of $130 million. In this Episode, Michael Review...more
Consulting standard-bearer McKinsey & Co. will pay $573 million to resolve state investigations and allegations related to its role “in helping ‘turbocharge’ opioid sales, a rare instance of it being held publicly accountable...more
Deutsche Bank’s ethics and compliance function faces numerous challenges. Deutsche Bank has a storied record of scandals, government enforcement actions and failures to abide by prior deferred prosecution agreements (DPAs)....more
Deutsche Bank, the infamous German bank connected to President Trump, settled FCPA and fraud cases with the Justice Department and the SEC, and agreed to pay a total of $130 million....more
U.S. drug giant Merck is shuttering its coronavirus vaccine development “after early trial data showed [its pair of vaccines] failed to generate immune responses comparable to natural infection or existing vaccines.” ...more