8/26/19: Deutsche Bank has entered a settlement with the US Securities and Exchange Commission, agreeing to pay more than $16 million to settle charges that it hired relatives of foreign government officials in violation of the FCPA...
According to SEC’s allegations, the illegal actions were conducted despite Deutsche Bank’s written hiring policy designed to prevent and detect such activities. In fact, at every step of the compliance process, Deutsche Bank’s actions were lacking, especially in enforcement. The settlement offers other compliance officers a look at what can go wrong when interacting with foreign government officials even if no items are exchanged and corporate policies are not adequately enforced...