Disciplinary proceedings have been initiated against Deutsche Bank in Spain – Kommersant

National Stock Market Commission (CNMV) of Spain started disciplinary proceedings against Deutsche Bank. The regulator’s investigation relates to the sale of complex and high-risk derivative financial instruments.

Authorities suspect the German bank of systematically violating Spanish legislation in the field of securities trading. In particular, Deutsche Bank is accused of insufficiently informing and explaining to clients all the risks and details of trading complex derivatives.

As noted in the regulator’s statement, the proceedings will take into account the results of an internal audit of Deutsche Bank, which confirmed violations in working with Spanish clients, as well as the fact that legal proceedings have already been initiated against the bank by clients. At the same time, the statement notes that the start of the proceedings does not necessarily mean the imposition of penalties on Deutsche Bank and the recognition of the bank as guilty of violating the law.

Kirill Sarkhanyants