Join

Enter Details

Comment on stories, receive email newsletters & alerts.

@
This is your permanent identity for Business Insider Australia
Your email must be valid for account activation
Minimum of 8 standard keyboard characters

Subscribe

Email newsletters but will contain a brief summary of our top stories and news alerts.

Forgotten Password

Enter Details


Back to log in

Report: Deutsche Bank Sacked A Rogue Australian Forex Trader

Deutsche Bank/ Handelsraum

A Deutsche Bank foreign exchange trader has reportedly been sacked and is under investigation over inflated trades costing the investment bank up to $5 million.

The Australian Financial Review says Deutsche Bank confirmed that former currency trader Andy Donaldson was first suspended and then fired in June of this year.

Deutsche Bank’s local chief executive James McMurdo declined to comment on the matter.

But the AFR says a spokesperson for Deutsche Bank confirmed that “the bank recently dismissed a trader after checks uncovered irregularities in how he recorded his trading activities”.

The bank says this is an internal issue only and “the sum involved was not material to the bank”.

The Australian Securities and Investment Commission and the Australian Prudential Regulation Authorities are working with Deutsche Bank to investigate.

There’s more HERE.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.