Deutsche Bank Probes if Client Data Compromised After Firings:FT

(Bloomberg) -- Deutsche Bank is investigating whether confidential client data were compromised after the bank didn’t deactivate the accounts of fired staff from the close of its global equities business, the Financial Times reports citing people briefed.

• About 50 traders in London, New York were able to access bank’s systems and emails for weeks after the first round of layoffs, with one equity salesperson sending 450 messages remotely after she was let go
• Deutsche Bank’s global compliance surveillance is investigating whether price-sensitive data were accessed, or if there was collusion between current and former staff
• The bank’s head of global compliance surveillance Jeremy Kirk told the FT that almost all the emails sent were reviewed and so far there has been no evidence found of price sensitive information being communicated or other wrongdoing
• Access to work emails now fully revoked, Kirk told the FT
• NOTE: July 24, Deutsche Bank Now Wants to Keep Some Equities Revenue After All

To contact the reporter on this story: Polina Noskova in New York at pnoskova@bloomberg.net

To contact the editor responsible for this story: Sarah Kopit at skopit@bloomberg.net

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