Tag: BaFin

January 21, 2014 BY Gerald Segal

German regulatory watchdog puts 4pm fix investigation as top priority

Foreign exchange fixing revamp is imminent as regulators contemplate big changes Sources familiar with the recently launched investigation by German regulatory watchdog BaFin are claiming that the investigation has been put on the top priority list and Deutsche Bank’s London offices will be visited by an investigating team. Transparency in major banks’ business practices has…

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December 10, 2013 BY Gerald Segal

German BaFin argues for Libor benchmark calculation changes

After Libor and Euribor, recent FX rates manipulation probes, EU regulators seem to be toughening up Over the weekend German financial regulator BaFin has announced that it would be in the interest of the financial markets to conduct a thorough reform to the setting of financial markets benchmarks such as Libor. Chief Executive Director Raimund…

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December 24, 2012 BY Gerald Segal

German regulators shut down FXdirekt Bank

Germany's BaFin cites inadequate capital at FXdirekt. Germany's financial regulator BaFin announced Friday that it is shutting down leading German-based online FX broker FXdirekt Bank, due to inadequate capital following decreased client trading levels and losses suffered by the firm in the second half of 2012. FXdirekt had been the subject of some very negative…

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