Bafin Extends Deutsche Bank Libor Investigation, Spiegel Says
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Germany’s financial regulator, BaFin, is extending investigations into alleged interest-rate manipulation at Deutsche Bank AG, Europe’s largest investment bank, German magazine Der Spiegel reported.
BaFin mandated audit company Ernst & Young LLP to discover more about when Anshu Jain, the company’s co-chief executive officer, learned first about a potential manipulation of benchmark interest rates in the industry and at Deutsche Bank, Spiegel said, citing information from the mandate description. The regulator defined 10 areas at which the auditors are supposed to take a closer look, with Jain being listed as a key person in six of them, according to Spiegel.