Deutsche Bank Faces Spanish Proceedings Over Derivatives (1)

Spain’s securities regulator has started “disciplinary proceedings” against Deutsche Bank AG linked to the sale of derivatives in the country.

“The advisory service provided to Spanish clients in relation to highly complex and high-risk financial derivative instruments on currencies” may constitute a “very serious infringement” of Spanish law by Deutsche Bank, the regulator known as CNMV said in a statement Thursday.

Deutsche Bank’s share price deepened losses after the news, dropping as much as 4.85%.

“We are aware of the CNMV’s commencement of proceedings against Deutsche Bank SAEU in relation to the historic sale of FX derivatives in Spain ...