Deutsche Bank's Record Fine Reveals Its Rotten Heart (And Regulatory Uncoordination)

``Unfortunately, the EU has chosen to pursue its own investigation into Libor & Euribor manipulation, which is not yet complete. The slower pace of the EU investigation has undermined the NY DFS's attempts to ensure that everyone involved in rate manipulation is "terminated and banned" from employment in financial markets... It is also unfortunate that the German regulator BAFIN's preliminary findings, released last year, were not shared directly with the US and UK regulators. BAFIN left it to Deutsche Bank to disclose them, which -- unsurprisingly -- it failed to do. Indeed according to the UK's FCA, Deutsche Bank went to considerable lengths to conceal BAFIN's findings:''