{"id":5799,"date":"2015-06-26T00:00:00","date_gmt":"2015-06-26T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2015\/06\/bafin_report_accuses_deutsche"},"modified":"2022-05-06T15:42:09","modified_gmt":"2022-05-06T20:42:09","slug":"bafin-report-accuses-deutsche","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/bafin-report-accuses-deutsche\/","title":{"rendered":"BaFin Report Accuses Deutsche Bank Executives of Negligence in Libor Rigging"},"content":{"rendered":"<p>According to a report by German financial regulator BaFin, senior management at Deutsche Bank (DB) allegedly behaved \u201cnegligently\u201d related to the rigging of Libor rates. The European regulator has been investigating the bank over its possible involvement in the manipulation of the inter-bank rate setting process.<\/p>\n<p>The BaFin report contends that Deutsche Bank\u2019s outgoing joint leader Anshu Jain may have lied to the European nation\u2019s central bank, the Bundesbank, by purposely making inaccurate statements\u201d about rate rigging during a 2012 interview. The regulator wants Deutsche Bank to be subject to special supervisory measures.<\/p>\n<p><em>The Financial Times<\/em> reports that, Jain, who resigned from his position and will officially step down at the end of the month, is accused of telling Bundesbank that he did not know about the rumors about possible rigging even though e-mails about a meeting on this matter were forwarded to him in 2008. Deutsche Bank, however, maintains that Jain did not lie or mislead the German central bank during the interview. The bank said that the BaFin report confirms its own findings that no current or ex-members of its Management Board or Group Executive Committee directed firm employees to rig intra-bank offered rate submissions or knew of any attempted manipulations before June 2011.<\/p>\n<p>Deutsche Bank has paid over $9 billion in fines to resolve claims of Libor rigging. In April, the bank was fined $2.5 billion for manipulating interest-rate benchmarks.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/bafin-report-accuses-deutsche\/#more-5799\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to a report by German financial regulator BaFin, senior management at Deutsche Bank (DB) allegedly behaved \u201cnegligently\u201d related to the rigging of Libor rates. The European regulator has been investigating the bank over its possible involvement in the manipulation of the inter-bank rate setting process. The BaFin report contends that Deutsche Bank\u2019s outgoing joint [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3756,3810,3818,3752,4027],"tags":[3522,3449],"class_list":["post-5799","post","type-post","status-publish","format-standard","hentry","category-barclays-capital","category-cftc","category-deutsche-bank","category-financial-firms","category-libor-scandal","tag-bafin","tag-isdafix"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BaFin Report Accuses Deutsche Bank Executives of Negligence | Securities Fraud Attorney<\/title>\n<meta name=\"description\" content=\"According to a BaFin report, senior management at Deutsche Bank (DB) allegedly behaved \u201cnegligently\u201d related to the rigging of Libor rates.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/bafin-report-accuses-deutsche\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BaFin Report Accuses Deutsche Bank Executives of Negligence | Securities Fraud Attorney\" \/>\n<meta name=\"twitter:description\" content=\"According to a BaFin report, senior management at Deutsche Bank (DB) allegedly behaved \u201cnegligently\u201d related to the rigging of Libor rates.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; 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