Deutsche Bank's securities and exchange-trading operations banned in Korea for six months
Deutsche Bank's securities and exchange-trading operations have received a six-month ban in Korea for making 44.87 billion won ($40 million) in ‘illegal profits’ from market manipulation, following an investigation by Korean regulators; prosecution of individuals may follow.
Deutsche Bank's securities and exchange-trading operations in South Korea will be suspended for six months from April 1 after Korean investigators found that senior staff, including a managing director, conspired to manipulate the market, making 44.87 billion won ($40 million) in ‘illegal profits’.
Korean regulators said the bank achieved this through constructing speculative derivative positions in advance through short synthetic futures and long put options on November 11, 2010, when the Korea
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