CFTC files lawsuit against Deutsche Bank

  • Suit is for alleged swap data reporting deficiencies
  • The banks efforts to end April 2016 system outage exasperated existing reporting problems and created new ones.
  • Many of the problems it discovered violated a previous CFTC order
  • Some of the problems persist, affecting the market data that is made available to the public
  • The persistence of the problems also affects its ability to evaluate systematic risk in swaps markets
  • Lawsuit is for reporting violations, supervision failures, in violation of prior orders

Back in September 2015, Deutsche was fined 2.5 million (CLICK HERE) for swaps reporting violations a related supervisory failures. No wonder they got in trouble again. Only a 2.5 million dollar fine? Peanuts.

In a separate statement DB said it agreed to steps to resolve the matter and that they are committed to meeting regulatory requirements.

Deutsche Bank stock is trading up $0.02 at $13.99.