Deutsche Bank Nepotism Settlement Shows Policies Are Not Enough

Deutsche Bank has agreed to pay disgorgement and a civil penalty to the SEC to resolve allegations that it hired the relatives of government officials in China and Russia in order to land big deals. The German bank has had policies in place to prevent this type of nepotism but senior executives were able to creatively use joint ventures and lax lateral hiring rules to skirt those policies. In this article, we examine this failure of compliance execution and extract lessons for companies.

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