As a supervised contributor of data used in the determination of the Euro Interbank Offered Rate (Euribor), BaFin says Deutsche Bank at times did not have effective preventative systems, controls, and policies in place within the meaning of Article 16 of BMR, which covers governance and control requirements for supervised contributors.
Introduced in 2016, the regulation requires benchmark index providers to ensure the accuracy and integrity of benchmarks across the EU and aims to prevent manipulation. Breaches can be punished by imposition of a fine.
Earlier in 2021, BaFin has ordered Deutsche Bank to implement additional safeguards to prevent money laundering.
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