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FCA investigates Deutsche Bank over systems and controls

The FCA is investigating Deutsche Bank after the regulator raised concerns about the way it is being run, The Times reports.

Deutsche Bank has been placed under “enhanced supervision” over concerns over governance and systems and controls at the investment bank.

US regulators have already put Deutsche Bank’s US arm under scrutiny over similar concerns.

FCA officials have been investigating the bank for five months, though the enhanced order has only now come to light. FCA officials have paid regular visits to the bank’s London offices to supervise an internal business overhaul referred to as Project Hercules.

The regulator’s website notes that enhanced supervision orders are reserved for cases where it spots “serious failings in standards” in individual organisations. Such orders require formal responses to each of the FCA’s concerns.

Failure to address each of the issues highlighted in the enhanced order could result in the FCA stopping the bank from conducting business in the UK.

A spokeswoman for Deutsche Bank told the newspaper: “We have been working diligently to further strengthen our systems and controls and are committed to being best in class. We have invested €3.6bn since 2012 as part of this effort.”

The FCA declined to comment.

Deutsche Bank is also one of the financial institutions being investigated for its role in the Libor-rigging scandal. 


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  1. Sorry Deutsche, George Osbourne needs new shoes and the FCA will make you pay for them !!

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