The
London branch of Germany's Deutsche Bank has been fined £4.7m by UK regulators
for inaccurate reporting.
The
Financial Conduct Authority (FCA) said the bank mis-reported 29m transactions
between November 2007 and April 2013.
"There
is simply no excuse for Deutsche's failure to get this right," said the
FCA in a statement.
Deutsche
Bank said it had undertaken a "complete review" of its reporting
systems to rectify the problem.
The
mis-reporting involved "contracts for difference" - a derivative that
lets people bet on share price movements.
"We
have repeatedly highlighted the importance of
