Deutsche Bank conducts internal probe into trading on London gold fix

Section:

By Clara Denina
Reuters
Thursday, June 19, 2014

LONDON -- Deutsche Bank is conducting its own investigation into trading around the setting of London's daily gold price benchmark, in addition to one being carried out by Germany's financial watchdog, sources close to the matter said.

The German bank had been a member of the century-old gold "fix" -- a widely used price set twice a day by five banks in a conference call -- for two decades until May, when it resigned from the processes for gold and silver.

An internal investigation can be triggered by scrutiny from external regulators as a bank would need to examine its own processes to answer questions raised.

Taking early action as a result of an internal probe may also mitigate the impact of any sanction the regulator imposes. ...

... For the full story:

http://www.reuters.com/article/2014/06/19/gold-fix-investigation-idUSL5N...



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