Deutsche Bank fined EUR 10M by Spain’s financial market watchdog, FT reports

Deutsche Bank (DB) has been fined EUR 10M by Spain’s National Securities Market Commission over the mis-selling of risky foreign exchange derivatives, accusing the lender of “very serious infringements” of Spanish and EU law, and said it failed to inform corporate clients properly about the risks associated with derivatives products that exposed them to heavy losses, The Financial Times’ Florian Muller reports. CNMV imposed the third-largest fine in its history and suspended Deutsche Bank from conducting investment advisory activity related to the products for a year.