December 20, 2018 / 11:30 AM / 6 months ago

Deutsche Bank says cooperating with EU in bond cartel probe

FILE PHOTO: The headquarters of the Deutsche Bank is pictured in Frankfurt, Germany, March 19, 2018. REUTERS/Ralph Orlowski/File Photo

FRANKFURT (Reuters) - Deutsche Bank (DBKGn.DE) said on Thursday that it has proactively cooperated with the European Commission’s probe into an alleged bond trading cartel.

“Deutsche Bank... does not expect a financial penalty as this is an ongoing investigation,” a Deutsche Bank spokesman said.

EU antitrust regulators on Thursday charged four banks with taking part in a U.S. dollar supra-sovereign, sovereign, agency bond trading cartel over a seven-year period to 2015.

The European Commission did not name the banks, which could face fines up to 10 percent of their global turnover if found guilty of breaching EU antitrust rules. It can offer whistleblowers leniency.

Reporting by Andreas Framke; Writing by Arno Schuetze; Editing by Maria Sheahan

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