Deutsche Bank AG

DB

On January 24, 2021,Deutsche Bank announced that it had launched an internal investigation relating to engagement with some of its clients. The Financial Times reported that the investigation pertained to whether Deutsche Bank’s “staff mis-sold sophisticated investment banking products to clients in breach of EU rules and then colluded with individuals within these companies to share the profits.” The Financial Times article further stated that “Deutsche believes that some of its staff knowingly sold inappropriate or unsuitable products to customers who may not have been able to understand and shoulder the risk they were taking,” and that this did not involve “looking at a few isolated cases, but at what appears to be a broader pattern of misconduct over several years.” On this news, Deutsche Bank shares are down approximately 4% in intraday trading.

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