BOOM!

NO more immunity for dirty Bankers!

Yuge.

But on Sunday, Bloomberg published a story that caught our attention because it promised something so far in the post- (and pre-) financial crisis world: the notion that a megabank CEO might find themselves in silver bracelets if the bank gets caught laundering money for drug cartels, or ripping off pension funds, etc…

President Trump's SEC, not exactly reknowned for taking corporate malfeasance to task, has imposed a new condition on Deutsche Bank CEO Christian Sewing. The CEO must now, on an annual basis, personally certify that the bank is abiding by an agreement with the federal government stemming from alleged violations of swaps reporting rules.

According to Bloomberg, DB sought a waiver from the DoJ at the end of last month to settle the swaps violations. But when approached, the SEC surprised Deutsche by adding an unexpected stipulation: that the bank's CEO and top attorney personally vouch that the bank is complying with its commitments to US prosecutors.

https://www.zerohedge.com/markets/sec-making-deutsche-banks-ceo-personally-responsible-banks-crimes

https://www.bloomberg.com/news/articles/2020-10-01/deutsche-bank-s-compliance-missteps-get-personal-for-ceo-sewing