Deutsche Bank

News & Analysis as of

Your daily dose of financial news The Brief – 2.12.16

A year after announcing that it would pay roughly $2.6 billion to settle with state and federal regulators over faulty MBS, Morgan Stanley’s taking an additional $600 million hit, putting the figure at $3.2 billion—no chump...more

Was An Individual "Identified" In A Decision Notice?

The Upper Tribunal in Christian Bittar v The Financial Conduct Authority [2015] UKUT 602 (TCC), 10 November 2015 considered a claim by a former employee of Deutsche Bank (the Bank), Mr Bittar, who argued that he had been...more

Your daily dose of financial news The Brief – 2.10.16

We’ve all heard about the billions in tax savings associated with corporate tax inversions, but Deal Professor says the real tax-avoidance game is in a strategy called “earnings stripping”—a technique in which a multinational...more

Judge Mostly Denies Deutsche Bank National Trust Co.’s Motion to Dismiss in RMBS Class Action

On February 3, Judge Alison Nathan of the United States District Court for the Southern District of New York largely denied Deutsche Bank National Trust Co.’s (the “Trustee’s”) motion to dismiss in a proposed class action...more

The SEC And Financial Fraud

Financial fraud was a staple of SEC enforcement for years. Complex financial fraud cases in which the “books were cooked” to make earnings guidance, increase bonuses or for other reasons were the daily grist of SEC...more

Banking & Financial Services E-Note - January 2016

In Deutsche Bank Nat’l Trust Co. v. Estrella Perez, et al., No. 3D15-58, 2015 WL 8347002 (Fla. 3d DCA Dec. 9, 2015), Florida’s Third District Court of Appeal held that the trial court erred in dismissing a foreclosure case on...more

Trustees Seek Approval of $4.5 Billion Settlement

On January 20, trial commenced before Justice Marcy Friedman in New York County Supreme Court to determine whether Deutsche Bank, U.S. Bank, and the other trustees of 330 RMBS trusts acted reasonably when they reached a $4.5...more

Claims Against RMBS Trustees Dismissed

On January 19, Judge Richard Berman of the Southern District of New York dismissed, for lack of jurisdiction, the vast majority of claims asserted against Deutsche Bank and Wells Fargo in their respective capacities as RMBS...more

Florida’s Second DCA Reverses Dismissal of Foreclosure in Favor of Borrowers for their Failure to Properly Allege a Condition...

For years, counsel for borrowers have successfully argued that the bank failed to meet conditions precedent required under Section 559.715 of Florida’s Consumer Collection Practices Act (“FCCPA“). Procedurally, this argument...more

Real Property, Financial Services & Title Insurance Update: Week Ending January 15, 2016 (and bonus opinion from January 20)

REAL PROPERTY UPDATE - Amendment to Foreclosure Rules and Forms: Florida Supreme Court amended Florida Rule of Civil Procedure 1.115 and Forms 1.944 and 1.996 to conform with § 702.015, Fla. Stat. (2015) and “expedite...more

Your daily dose of financial news The Brief – 1.21.16

Remember that oil spill on the markets from yesterday? We’re heading into Exxon Valdez territory here, even with a late-day rally on Wall Street that helped somewhat stem monumental losses – NYTimes... The Upshot’s...more

Your daily dose of financial news The Brief – 1.19.16

We’ve got a name for the fun that bigwigs in Davos will be discussing at this year’s World Economic Forum: the “crisis economy,” where all of the challenges facing world leaders seems inextricably linked to market performance...more

Commerzbank AG Sues Four RMBS Trustees Alleging Violations of Duties to Investors

On December 23 and 24, Commerzbank AG filed four actions in the Southern District of New York against Deutsche Bank National Trust Company, HSBC Bank USA, N.A., Wells Fargo Bank, N.A., and the Bank of New York Mellon in their...more

Burr Scores Significant Appellate Victory in Florida

In Deutsche Bank Nat’l Trust Co. v. Estrella Perez, et al., No. 3D15-58, 2015 WL 8347002 (Fla. 3d DCA Dec. 9, 2015), Florida’s Third District Court of Appeal held that the trial court erred in dismissing a foreclosure case on...more

White Collar Enforcement Omnibus Edition—Cyber Crimes, Sanctions and Spoofing, Oh My!

Why it matters: Since our last newsletter, a lot has been going on in white collar enforcement… so much so that we decided to devote an entire newsletter to it. It was a month of superlatives. The DOJ and the SEC announced...more

Second Circuit Upholds District Court Decision, Applies New York’s Six-Year Limitations Period on Contractual Claims

On November 16, the Court of Appeals for the Second Circuit affirmed the Southern District of New York’s decision to dismiss a leading global bank’s complaint against a nonbank mortgage lender alleging breach of contractual...more

Financial Services Weekly News - November 2015 #4

Regulatory Developments - SEC Proposes Amendments to Regulation ATS to Shine a Light on Dark Pools: On Nov. 18 the SEC announced that it had issued Release No. 34-76474 proposing amendments to Regulation ATS,...more

Second Circuit Upholds Dismissal of RMBS Lawsuit as Time-Barred

On November 16, the Second Circuit Court of Appeals affirmed the District Court’s dismissal of a lawsuit brought by Deutsche Bank National Trust Co. (acting as Trustee for RMBS Trust GSR 2007-OA1) against Quicken Loans,...more

Financial Regulatory Developments Focus - November 2015 #2

In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more

Tribunal backs complainant in identification case

The Tribunal has ruled in favour of Christian Bittar’s claim that FCA’s Decision Notice in respect of Deutsche Bank AG’s benchmark manipulation activities included reasons which identified him and were prejudicial to him and...more

Deutsche Bank and Sanctions Violations: More to Come

Deutsche Bank agreed to pay $258 million and fire six employees to resolve a New York and Federal Reserve investigation for sanctions violations from 1999 to 2006. The settlement is big news but ignores three key players who...more

Dodd-Frank News: November 2015: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more

Examination in England of a Non-Resident Foreign Officer of a Judgment Debtor

Obtaining a judgment is one thing, enforcing it is another. The location of a judgment debtor’s assets can be unknown or deliberately hidden. A judgment creditor may therefore wish to obtain information from a judgment debtor...more

Failure to Promote Employee on Maternity Leave Results in Litigation

When the Pregnancy Discrimination Act (PDA) was enacted in 1978, employers were clearly put on notice that they are forbidden from discriminating on the basis of pregnancy. Unfortunately, charges of pregnancy discrimination...more

New York Banks Agree To Conditions For Use Of New Communication Platform

On Monday, September 14, 2015, four major banks signed agreements with New York’s Department of Financial Services to regulate their use of a new financial messaging platform provided by Symphony Communication Services...more

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