August 22, 2019 / 10:22 PM / 2 months ago

U.S. SEC fines Deutsche Bank $16 mln to settle foreign corruption charges

WASHINGTON, Aug 22 (Reuters) - The U.S. Securities and Exchange Commission on Thursday said Deutsche Bank had agreed to pay $16 million to settle charges that it violated the Foreign Corrupt Practices Act.

The regulator alleged that the bank hired relatives of foreign government officials in both the Asia-Pacific region and Russia in order to improperly influence them in connection with its investment banking business. (Reporting by Michelle Price, Editing by Rosalba O’Brien)

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