Deutsche to pay US$425m over Russian trades

Frankfurt

DEUTSCHE Bank AG has agreed to pay US$425 million to New York's banking regulator over a "mirror trading" scheme that moved US$10 billion out of Russia between 2011 and 2015, the regulator said on Monday.

In addition, Britain's Financial Conduct Authority is about to penalize the bank roughly US$200 million for the suspicious trades, a person familiar with the matter said.