Deutsche Bank AG’s sales of foreign-exchange derivatives to small companies in Spain are being examined by securities regulator CNMV, adding to scrutiny of the lender over the matter.
The focus of the assessment is whether the sales complied with rules that effectively ban marketing complex derivatives to inexperienced buyers, a spokesman for the regulator said. He declined to provide further details on the analysis being undertaken.
Deutsche Bank’s derivatives sales in the country have already attracted scrutiny by the European Central Bank, which is concerned that the German firm hasn’t been explaining the associated risks sufficiently, Bloomberg reported previously. Some of the lender’s clients suffered steep losses from the products and argue that they were too complex for them to fully understand.
The watchdog in July published a resolution restricting marketing a type of derivatives known as financial contracts for differences to retail clients. The products are particularly risky as a small market movement can sometimes wipe out an investor’s entire deposit.
France Dernières Nouvelles, France Actualités
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