The Daily Caveat is written by Michael Thomas, a recovering corporate investigator in the Washington, DC-area. [More]
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6/11/2007
French Regulators Investigate Deutsche Bank on Insider Trading
French Regulators Investigate Deutsche Bank on Insider Trading
Did Deutsche Bank pass on inside information to hedge funds when brokering the sale of Vivendi Universal securities in 2002? That is the question French regulator, the Autorité des Marchés Financiers aims to answer in their ongoing investigation. This would not be the first time the AMF has come calling on Deutsche Bank for this kind of apparent infraction.
In fact, DB seem to have a bit of a gossip problem when it comes to how inside information is shared with investors. This would be the second time the AMF has taken aim at Deutsche Bank this year on the issue. British and Spanish regulators have also made similar accusations.
The four hedge funds potentially involved in the Vivendi Universal case have not been identified yet. Along with Deutsche Bank they face a combined $12 million in potential fines. With penalties that low and the stakes in these transactions so high, it is no wonder that Deutsche Bank is a repeat offender. It's just good business...
In fact, DB seem to have a bit of a gossip problem when it comes to how inside information is shared with investors. This would be the second time the AMF has taken aim at Deutsche Bank this year on the issue. British and Spanish regulators have also made similar accusations.
The four hedge funds potentially involved in the Vivendi Universal case have not been identified yet. Along with Deutsche Bank they face a combined $12 million in potential fines. With penalties that low and the stakes in these transactions so high, it is no wonder that Deutsche Bank is a repeat offender. It's just good business...
Labels: AMF, Deutsche Bank, insider trading, investigation
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