Deutsche Bank to extend cooperation in DFSA probe

: Monday, February 10 - 2014 @ 00:31

Dubai Financial Services Authority (DFSA) has said Deutsche Bank has agreed to hand over documents related to a probe into the operations of its Dubai-based wealth management division after being taken to court by the emirates’ financial free zone’s regulator, Bloomberg has reported. The German lender will submit the documents within 28 days and agreed to pay the regulator’s costs, it said. The DFSA has been examining whether Deutsche Bank’s private wealth-management business breached rules related to due diligence, assessing money-laundering risks and client agreement requirements.

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Monday, February 10- 2014 @ 0:31 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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