Deutsche Bank U.S. Unit Faces Renewed Criticism Over Compliance

Deutsche Bank AG is facing renewed criticism from U.S. watchdogs over compliance in a blow to Chief Executive Officer Christian Sewing’s efforts to make regulation a top priority of his tenure.

The New York Federal Reserve in late March sent an audit report to Sewing and other top executives expressing continued dissatisfaction with anti-money laundering controls and liquidity management at its U.S. unit, according to a person familiar with the matter. The report is based on investigations in late 2019 and early 2020 and gave the unit’s organization the second-worst grade, according to the newspaper Sueddeutsche Zeitung, which first reported ...