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4-Traders Homepage  >  Equities  >  Toronto Stock Exchange  >  Royal Bank of Canada    RY   CA7800871021

ROYAL BANK OF CANADA (RY)
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Deutsche Bank to pay $205 million to settle NY currency rigging charges

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06/20/2018 | 06:14pm CEST
FILE PHOTO: People are silhouetted next to the Deutsche Bank's logo prior to the bank's annual meeting in Frankfurt

(Reuters) - Deutsche Bank AG has agreed to pay a fine of $205 million for violations of New York's banking laws, the state's department of financial Services said on Wednesday.

Violations, that took place between 2007 and 2013, include efforts to improperly coordinate trading activity through online chat rooms, sharing confidential customer information, trading aggressively to rig prices, and misleading customers.

The litigation followed worldwide probes into currency manipulation that resulted in about $10 billion in fines for several large banks.

Under the consent order announced today https://www.dfs.ny.gov/about/press/pr1806201.htm, Deutsche Bank will take steps to prevent similar incidents from occurring again by improving senior management oversight of the company’s compliance with the State laws and regulations relating to the company’s foreign exchange trading business.

"The settlement is fully covered by existing provisions," said a Deutsche bank spokesman.

Other banks that had settled similar charges in the past are Bank of America, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Royal Bank of Canada, Societe Generale, Standard Chartered and UBS.

(Reporting by Diptendu Lahiri in Bengaluru and Michelle Price in Washington; Editing by Shailesh Kuber)

Stocks mentioned in the article
ChangeLast1st jan.
MORGAN STANLEY -0.20% 49.79 Delayed Quote.-4.86%
ROYAL BANK OF CANADA 0.22% 100.66 Delayed Quote.-2.61%
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Financials ( CAD)
Sales 2018 41 711 M
EBIT 2018 17 856 M
Net income 2018 11 924 M
Debt 2018 -
Yield 2018 3,75%
P/E ratio 2018 12,22
P/E ratio 2019 11,43
Capi. / Sales 2018 3,48x
Capi. / Sales 2019 3,33x
Capitalization 145 B
Chart ROYAL BANK OF CANADA
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Royal Bank of Canada Technical Analysis Chart | RY | CA7800871021 | 4-Traders
Technical analysis trends ROYAL BANK OF CANADA
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 111  CAD
Spread / Average Target 11%
EPS Revisions
Managers
NameTitle
David I. McKay President, Chief Executive Officer & Director
Kathleen Patricia Taylor Chairman
Bruce Ross Group Head-Technology & Operations
Rod Bolger Chief Financial Officer
Michael H. McCain Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
ROYAL BANK OF CANADA-2.61%108 965
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INDUSTRIAL AND COMMERCIAL BANK OF CHINA-8.23%303 817
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CHINA CONSTRUCTION BANK CORPORATION-7.42%255 729