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
Deutsche Bank on Wednesday confirmed the basics of a recent German newspaper report that revealed that the bank “had used faulty software to screen customer transactions for suspicious activity” while claiming that “no...more
After the tragic crash of Ethiopian Airlines Flight 302 this weekend, Ethiopia, Indonesia, and China have moved to ground all flights on Boeing’s new 737 Max 8 planes until further notice. ...more
It was quite a run, but on Thursday, ECB chief Mario Draghi announced that the bank is finally putting an end to the quantitative easing program it’s used “to hold down interest rates and encourage lending” since 2015. ...more
Though he was apparently ready to go with his “verbal agreement with the Saudis” defense, Elon Musk capitulated to pressure “from his lawyers and investors of Tesla” and agreed to resolve all SEC allegations of wrongdoing,...more
Milwaukee-based Harley-Davidson announced on Monday that it will shift some of its motorcycle production overseas “to avoid retaliatory tariffs imposed by the European Union” in response to the White House’s trade moves....more
The High Court has a daunting lineup of decisions yet to issue this year, but it’s checking one off the list with yesterday’s 5-4 holding upholding the right of companies to use arbitration clauses in employment contracts “to...more
On Monday, UPS revealed that in December it sued European antitrust regulators over a 5-year-old decision that blocked the delivery company’s takeover of the Netherlands’ TNT Express. UPS is seeking more than $2 billion in...more
Coffee pod powerhouse Keurig Green Mountain is expanding its empire (and that of its parent JAB Holding Company) with the announcement of a $18.7 billion deal for the Dr Pepper Snapple Group. If approved by shareholders and...more
Deutsche Borse CEO Carsten Kengeter announced yesterday that he’ll step down in the wake of insider-trading allegations related to the exchange’s now-defunct merger with the London Stock Exchange Group....more
P&G is banking on “a variation of America’s electoral arithmetic” as its best bet for keeping Trian’s Nelson Peltz away from its board. So . . . we’ll see him on there soon [?]....more
If the White House gets its way, Richard Cordray and the CFPB (and many other current Wall Street regulators and regulations) would be virtually unrecognizable as compared to their current form....more
The December 22 announcement that Deutsche Bank had settled with the DOJ over long-standing RMBS-related claims and investigations for a reported $7.2 billion prompted this Times long-read that traced the Icarus-like rise and...more
US banks made a strong showing in part 2 of the latest round of the Fed’s stress tests. Only Morgan Stanley didn’t pass unconditionally (concerns over the company’s “internal controls and processes” tripped it up), while the...more
MetLife went to the mats over its SIFI label . . . and it won big. A federal judge in D.C. yesterday rescinded the “too big to fail” designation for the insurer, though the government can appeal the decision. The decision...more
On September 13, Deutsche Bank, acting in its capacity as Trustee of the Morgan Stanley ABS Capital I Inc. Trust, Series 2007-HE6 (the Trust), filed a lawsuit in the United States District Court for the District of...more