Deutsche Bank and the FSA: A good, clean fight?
Having been fined £6,363,643 in April by UK regulator the Financial Services Authority for failing to observe proper standards of market conduct and failing to conduct its business with due skill, care and diligence, Deutsche Bank must be keen to promote a spotless reputation in all aspects of its business.
As FSA managing director for wholesale business Hector Sants said when the fine was imposed, being aware of such issues is “fundamental to maintaining efficient, orderly and clean markets”.
But maintaining clean London offices also became an issue for the bank during the month when its Winchester Street headquarters in the City of London were faced on several occasions by a group of striking cleaners, complaining about their terms of employment with the cleaning firm subcontracted to the building.
Although the curmudgeonly cleaners have no gripe with Deutsche Bank itself, placard-waving strikers circling its front and back doors is probably not the corporate image that any bank is really going for.