U.S. SEC fines Deutsche Bank $16 million to settle foreign corruption charges

 U.S. SEC fines Deutsche Bank  million to settle foreign corruption charges

WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission on Thursday said Deutsche Bank had agreed to pay $16 million to settle charges that it violated the Foreign Corrupt Practices Act.

The regulator alleged that the bank hired relatives of foreign government officials in both the Asia-Pacific region and Russia in order to improperly influence them in connection with its investment banking business.

(Reporting by Michelle Price, Editing by Rosalba O'Brien)

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Updated Date: Aug 23, 2019 05:05:14 IST