As Germany regulators continue with their investigation into claims of gold benchmark rate manipulation, sources say Deutsche Bank is now conducting its own internal probe of the matter.
The lender had participated in the benchmark setting process for 20 years until last May, when it dropped out of the panel. According to unnamed sources, Deutsche Bank is now probing the matter as financial regulator Bafin looks into the allegations as well.
According to one source, Bafin visited the bank’s offices in London more than one year ago “and looked at the metals business and all the benchmarking issues. That’s when the internal audits started as well.”
Investigations into claims of gold benchmark fixing have opened in several jurisdictions. Last May, UK authorities fined Barclays Bank, which also sits on the gold fixing panel, $43.8 million for failing to put internal controls in place to prevent such market manipulation.
Full content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Musk’s X Requests Brazil Supreme Court to Resume Service After Shutdown
Sep 26, 2024 by
CPI
Visa Acquires AI Firm Featurespace to Enhance Fraud Prevention
Sep 26, 2024 by
CPI
Visa Gears Up for Legal Fight with DOJ Over Debit Card Monopoly Allegations
Sep 26, 2024 by
CPI
UFC Fighters’ Lawsuit Settlement Resurfaces with $375 Million Offer
Sep 26, 2024 by
CPI
Ex-Amazon Seller Appario Files Lawsuit to Dismiss Antitrust Allegations
Sep 26, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
Francisco Javier Núñez Melgoza
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
Julio Garcia
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
Alejandra Palacios Prieto
The Cost of Making COFECE Disappear
Sep 3, 2024 by
Mateo Fernández