Deutsche Bank AG (DB) could soon reach a settlement with U.S. and U.K. authorities regarding the Wall Street bank’s Russian clients’ suspicious trading practices, according to a Reuters report.
The settlement could come as early as the first half of 2017, people familiar with the conversations told Reuters. Deutsche Bank has been under investigation for allegedly disguising clients’ purchases of poorly trading securities with the intention of selling them quickly after in a foreign currency to make a profit, Reuters reported.
The U.S. Department of Justice, New York’s Department of Financial Services and the U.K.’s Financial Conduct Authority all have launched investigations. All three organizations along with Deutsche Bank declined to comment to Reuters.
Shares for Deutsche Bank were last trading up 1% as trading neared its close Friday.