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German, Swiss police launch 50 raids over insider-trading

Police launched about 50 coordinated home and office raids in Germany and Switzerland Tuesday against suspects in an insider-trading ring, they said. The 23 suspects allegedly made stock market trades worth millions of euros (dollars) based on advance knowledge of corporate takeovers. The companies involved were not named in a statement issued by German prosecutors from the southwestern state of Baden-Wurttemberg. The swoop was instigated by German financial regulator BaFin, which had found new evidence on an initially unsuccessful 2008 investigation.

Germany's Schaeuble wants tougher rules after wind park insolvency

BERLIN (Reuters) - Germany needs to improve regulation and supervision of financial markets in order to protect investors, including those who have been affected by this month's insolvency of the wind park group Prokon, Finance Minister Wolfgang Schaeuble has said. "It remains the goal of the German government to better regulate and supervise the grey zones of the financial market," Schaeuble was quoted as saying in an advance release from an interview being published in Friday's Handelsblatt newspaper.

German watchdog to visit Deutsche in London in FX probe: source

LONDON (Reuters) - Representatives from Germany's financial watchdog Bafin will visit the London offices of Deutsche Bank, the country's biggest lender, as it steps up investigations into alleged currency market manipulation, a source familiar with the process said on Monday. This follows Deutsche's suspension last week of traders in New York and mirrors the arrival of U.S. regulators in London last week at Citigroup's London headquarters, marking an escalation in the global probe.

German banks may face capital shortfall in stress tests: Bafin

FRANKFURT (Reuters) - German banks may face a capital shortfall in stress tests of the sector over the coming months, the head of the country's financial market watchdog Bafin said on Thursday. "Depending on how the scenarios and assumptions are set up, the (stress) test could unearth additional capital needs at some banks," the financial regulator's President Elke Koenig told a Bafin New Year's reception, according to the text of a speech.

German watchdog criticizes Deutsche Bank's bonus policy: report

FRANKFURT (Reuters) - German financial watchdog Bafin has spoken out against Deutsche Bank's <DBKGn.DE> bonus policy and urged the country's flagship lender to abide by new remuneration rules, a German magazine reported. In Bafin's view, bonus payments for the bank's top managers are still too high and incentivize investment bankers to engage in risky trades, WirtschaftsWoche reported in a pre-release of its Monday edition, quoting Deutsche Bank sources.

Exclusive: Germany to propose Bundesbank deputy for ECB board seat

BERLIN (Reuters) - Germany will propose Sabine Lautenschlaeger, a vice president at the German Bundesbank, to take the board seat at the European Central Bank (ECB) that is being vacated by Joerg Asmussen, according to a source familiar with the matter. Asmussen announced on Sunday that he would be returning to Berlin, after just two years on the ECB's six-member executive board, to become state secretary in the labor ministry. Lautenschlaeger, 49, worked at German financial supervisor Bafin before joining the Bundesbank in 2011.

German watchdog says no need yet for special forex probe

FRANKFURT (Reuters) - German financial markets watchdog Bafin said on Tuesday it was in contact with foreign regulators looking into allegations of possible manipulation of the $5 trillion-a-day foreign exchange market but has not yet seen any need for a special investigation. "We've been looking at the situation since the summer," a Bafin spokesman said, adding that German regulators have been in contact with their foreign counterparts. "We have seen no reason to start a special investigation so far," the spokesman added.

Regulator probes Deutsche Bank over money laundering controls: report

FRANKFURT (Reuters) - German regulator BaFin is looking into whether Deutsche Bank <DBKGn.DE> should improve the controls it has in place against money laundering, a German paper reported. In BaFin's view, Germany's largest bank took too long to report some suspicious transactions to the police, possibly because the bank's internal alarm systems were not set up correctly, Welt am Sonntag reported, without citing its sources. BaFin is now looking at whether the problem is wider, the paper said.

German regulator to intensify Deutsche Bank libor probe - sources

FRANKFURT/BERLIN (Reuters) - German regulator Bafin has raised doubts about Deutsche Bank's <DBKGn.DE> internal probe of its role in setting inter-bank lending rates and will intensify its probe of Germany's biggest lender, two sources familiar with Bafin's report said. Bafin, which has been investigating Deutsche Bank's involvement in setting the London Inter-Bank Offered Rate, or Libor, has reviewed Deutsche Bank's internal findings as part of its own probe, the sources said on Thursday.
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