Deutsche Bank Fined by Spanish Watchdog Over Repurchase of Products
30 March 2022 - 2:15AM
Dow Jones News
By Cristina Roca
Deutsche Bank AG has been fined 3 million euros ($3.3 million)
by Spain's financial regulator for buying back, at spreads
significantly different from their fair value, structured notes
issued by the bank without informing its clients.
Spain's Comision Nacional del Mercado de Valores said in a
ruling published Tuesday on the Spanish government gazette that
Deutsche Bank had failed to apply measures required to manage
conflict of interest.
The German lender said it would appeal the fine.
"We acted correctly in this situation, applying conflict of
interest management policies and taking additional measures in
accordance with the regulations in force at the time of the events
inspected," it said.
Write to Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
March 29, 2022 11:00 ET (15:00 GMT)
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