MADRID (Reuters) -Spain’s stock market supervisor said on Thursday it had opened disciplinary proceedings against Deutsche Bank for the advisory service to Spanish clients related to highly complex and risky financial derivative instruments on currencies.
The CNMV said its move was based on facts that had also been determined by internal investigations carried out by the Deutsche Bank Group.
Potential non-compliances with the applicable regulation have been identified within the scope of structured OTC currencies derivatives, in particular regarding Spanish clients, the supervisor said.
The CNMV said that the opening of proceedings did not prejudge their final outcome.
Deutsche Bank declined to comment.
(Reporting by Jesús Aguado, editing by Andrei Khalip)
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