Deutsche Bank fined
Source: Agencies |
February 26, 2011, Saturday
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Print Edition
Print Edition
SOUTH Korea's main stock exchange fined the local unit of Deutsche Bank over a sharp decline in the market's benchmark index late last year that resulted in sanctions by the country's financial regulators.
The Korea Exchange yesterday said it will fine Deutsche Securities Korea a total of 1 billion won (US$888,000) for trading rule violations. It demanded disciplinary action against three employees.
South Korea's financial regulators said on Wednesday that they will ask prosecutors to investigate five Deutsche Bank employees in South Korea and overseas over alleged price manipulation and unfair trading.
Deutsche Securities Korea said in a statement that it "deeply regrets" the action taken by the exchange.
The Korea Exchange yesterday said it will fine Deutsche Securities Korea a total of 1 billion won (US$888,000) for trading rule violations. It demanded disciplinary action against three employees.
South Korea's financial regulators said on Wednesday that they will ask prosecutors to investigate five Deutsche Bank employees in South Korea and overseas over alleged price manipulation and unfair trading.
Deutsche Securities Korea said in a statement that it "deeply regrets" the action taken by the exchange.
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