NYDFS fines Deutsche Bank $205m for FX

Fines relate to practices between 2007 and 2013, when Deutsche was the world’s largest dealer by market share

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Deutsche Bank: co-operated with the NYDFS investigation into its currency practices

Deutsche Bank has been handed a $205 million fine by the New York Department of Financial Services (NYDFS) for “unlawful, unsafe and unsound conduct” in its foreign exchange business, which included sharing confidential customer information, and traders and sales people co-ordinating to charge excessive spreads and manipulate rates.

The fine relates to the six years between 2007 and 2013, a period when Deutsche Bank was the largest FX dealer bank in the world by market share. The regulator said

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