Lazard Fined in Germany for Failing to Prevent Insider Trading

Lazard Ltd.’s German unit was fined €190,000 ($207,000) in an insider-dealing investigation that last year led to the conviction of a former employee.

Frankfurt prosecutors found that the bank violated its duties to properly supervise its operations in Germany, a spokeswoman for the agency said by email on Tuesday. The fine was imposed in the fourth quarter of 2022 and Lazard accepted it, she added.

The sanction follows the conviction of the former Lazard banker who received a suspended sentence a year ago. He worked at the lender’s merger unit in Frankfurt and had access to in-house opinions on ...