Predictions and Analysis.
Der Wochenchart ist an einem wichtigen Resistance-Level.
Nach dem letzten Run erwarte ich einen Pullback zur Trendlinie.
Nachdem der Preis einige Tage lang rückläufig war, ist er jetzt von der Resistance-Zone gestoppt worden.
Ich erwarte eine Korrektur zum letzen Hoch und sehe das Paar auf lange Sicht Long.
Nach der starken Aufwärtsbewegung hat der Markt auf die Resistance-Zone reagiert.
Hallo Freedom-Trader, um nicht aus dem Bauch heraus zu handeln, basieren wir bei trading4freedom unsere Trading-Entscheidungen auf Fakten und Wahrscheinlichkeiten.
Nur wenn wir einen Gewinn-Vorteil haben, werden wir im Markt akiv.
Aktuell bietet sich eine solche Trading-Chance im EUR-JPY Devisenpaar.
Unser Gewinn-Vorteil - das Bearish Gartley Pattern Ein.
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n Exchange division of the UBS Investment Bank in Zurich, as well as scrutinizing the internal management processes and internal organisation of controls.
The ruling of 11 November 2014 issued by FINMA concludes the proceedings.
FINMA investigated three other Swiss banks regarding misconduct in foreign exchange trading.
The shortcomings that emerged there can be remedied by corrective supervisory measures without requiring enforcement.
FINMA s investigations are thus concluded.
Excellent international cooperation.
Numerous investigations into foreign exchange trading have been initiated against banks around the world.
During its investigation of UBS, FINMA coordinated closely with a number of foreign authorities.
The cooperation was excellent and was particularly close with the Financial Conduct Authority FCA in the UK.
Improper business conduct at the bank.
During its comprehensive investigations, FINMA found serious misconduct of employees in foreign exchange trading and in precious metals trading.
This comprised .
Manipulation of benchmarks The bank s foreign exchange traders repeatedly, and over extended periods of time, attempted to manipulate foreign exchange benchmarks so as to generate profits either for the bank or third parties.
In this context, there was also collusion with other banks.
Acting against the interests of clients and counterparties Foreign exchange traders acted unacceptably frequently against the interests of their clients and counterparties.
This conduct was partly coordinated with other banks.
Several foreign exchange traders actively triggered client stop-loss orders to the advantage of the bank engaged in front-running engaged in risk-free speculation at the clients expense when making partial fills, where at least part of clients profitable foreign exchange transactions were credited to the bank disclosed confidential client identifying information to third parties in individual cases engaged in deception regarding sales mark-ups and excessive mark-ups associated with an internal product of the bank.
In the improper business conduct in foreign exchange and precious metals trading, electronic communication platforms played a key role.
The abusive practices were evidenced in the information exchanged between traders in chat groups.
FINMA examined thousands of suspicious chat group conversations between traders at multiple banks see detailed report .
Severe violation of organisational requirements.
The unacceptable behaviour revealed by the investigation violated rules against manipulative conduct, as well as the duty to safeguard client interests and to comply with internal directives.
Severe organisational shortcomings in foreign exchange trading at UBS facilitated those violations .
Insufficient risk assessment UBS s risk assessment of foreign exchange trading was insufficient.
Conducting proprietary and client trading simultaneously and managing the information obtained from clients can lead to conflicts of interest.
These risks were heightened by the incentive system in which variable compensation was on average triple the basic salary.
Compliance was of little relevance to performance evaluation.
Neither conflicts of interest, specific incidents such as the LIBOR case, nor notifications from whistleblowers resulted in the introduction of appropriate measures to capture or limit these risks.
Insufficient controls The bank did not have adequate control instruments in place to identify violations of market conduct rules, manipulative conduct or breaches of the bank s duty to act in the interest of its clients.
There were no adequate internal directives for foreign exchange trading.
The desk supervisors ignored their monitoring functions.
Insufficient compliance The compliance function within the Foreign Exchange division was insufficiently developed.
Compliance issues were not stressed enough in internal training or the evaluation of staff.
Neither were employees sufficiently sensitised nor were there compliance controls in place at the trading desk.
Conclusion and measures imposed by FINMA.
FINMA has concluded that UBS severely violated the requirements for proper business conduct owing to the bank s insufficient internal controls and the intolerable conduct of its employees.
FINMA has therefore imposed the following corrective measures .
Disgorgement of illegally generated profits and avoided costs The severe breaches of supervisory law allowed the bank to generate unjustified revenues or avoid costs.
FINMA has therefore ordered the disgorgement of illegally generated profits and avoided costs amounting to CHF 134m.
Measures on variable compensation FINMA has for a period of two years limited the maximum annual variable compensation to 200 of the basic salary for foreign exchange and precious metals employees globally.
A special review and approval process will be introduced for other high earners of the Investment Bank in Switzerland who receive variable compensation that exceeds 200 of the basic salary.
Automating foreign exchange trading UBS is obliged to automate at least 95 of its global foreign exchange trading.
Separation of client and proprietary trading FINMA has ordered that effective measures must to be taken to manage conflicts of interest.
In particular an organisational separation of client and proprietary trading should be introduced.
Measures already imposed Complementing actions already taken by UBS itself, FINMA had ordered initial supervisory measures in April 2014.
They included strengthening of the compliance function introduction of monitoring and analysis tools limiting the utilisation of certain communication media a prohibition of certain employee transactions, and strengthening of the whistleblowing process.
Third party review FINMA will appoint a third party to check the full implementation of the measures.
The bank displayed cooperation during the enforcement proceedings.
Proceedings against eleven employees and managers.
FINMA has initiated enforcement proceedings to determine the knowledge and conduct of involved persons up to the highest level of the Investment Bank s foreign exchange business.
This concerns eleven of the bank s former and current employees.
Tobias Lux, Media Spokesperson, phone 41 31 327 91 71, tobias.
FINMA sanctions foreign exchange manipu-lation at UBS.
The current situation relating to the coronavirus also affects the financial sector.
Important information published by FINMA on this topic can be found here.
FINMA Annual Report 2019.
FINMA s Annual Report highlights its supervisory activities in 2019.
In addition, FINMA is providing data on enforcement cases in a database as well as statistics in an Excel document on its website.
Too big to fail dossier.
FINMA has confirmed that the large Swiss banks emergency plans are effective.
It has also published a report which provides a comprehensive overview of the Swiss TBTF regime.
FINMA Risk Monitor.
The risk monitor provides an overview of what FINMA believes are the most important risks currently facing supervised institutions and of FINMA s supervisory focus.
FinSA and FinIA.
Financial Services Act FinSA and Financial Institutions Act FinIA new requirements for financial service providers.
International Financing Review Awards 2012.
International Financing Review IFR recognized Deutsche Bank as its Equity House of the Year and Bond House of the Year 2012.
This is the first time the Bank has been named Equity House of the Year and the sixth time that it has won the top Bond award more than any other bank.
Deutsche Bank is also the only European bank to have been awarded the top Equity and Bond awards in the same year.
Deutsche Bank won a further seven IFR awards .
GreenIT Best Practice Award 2012.
Deutsche Bank has clinched the 2012 German GreenIT Best Practice Award in the category of Visionary Concept for its eight-point eco-efficient in information technology IT program.
China Business News Financial Value Ranking 2012.
Best Foreign Forecasting Organization Economist of the Year Dr.
metrixLAB Website of the Year 2012.
Deutsche Bank website has been voted Beliebteste Website Most Popular Website by German internet users in the financial category.
Global Finance Beste Institute im Devisenhandel weltweit.
Bestes Institut im Devisenhandel weltweit zum neunten Mal in Folge Beste Bank im Devisenhandel in Westeuropa Beste Bank im Devisenhandel in Deutschland Beste Bank im Devisen-Research für Strategie und Hedging Bestes online System für den Devisenhandel für Autobahn .
League of American Communications Professionals 2012 Spotlight Awards.
Global Competition Gold Award for results.
Structured Products magazine Europe Awards 2012.
Businessworld Best Banks Survey 2012.
Financial News Awards for Excellence in Trading Technology.
Financial News has awarded Deutsche Bank Best Single Dealer FX Platform in its Awards for Excellence in Trading Technology, celebrating the Bank s achievement of working across the spectrum in alternative trading platforms.
The Financial News Awards for Excellence in Trading Technology honor the most innovative and visionary players in the European trading and technology industry.
An independent panel of 50 judges determine the awards.
The FX trading platform is accessible through Deutsche Bank s Autobahn App Market.
The platform is the first App-based electronic client offering in the financial services industry.
It acts as a central access point to the bank s full suite of electronic services as well as research, real-time market commentary, charting applications, analytics and market data.
Read more about Autobahn on autobahn.
AsianInvestor Service Provider Awards 2012.
Prime Broker of the Year Best in Client Service Prime Services Best directory custody, Southeast Asia.
Global Finance Global Bank Award 2012.
Deutsche Bank won six accolades at prestigious annual awards .
Best Corporate Bank in the magazine s list of The World s Best Banks 2012 Best Foreign Exchange Bank World s largest bank by assets Best Interest Rate Derivatives Provider, Europe Best Credit Derivatives Provider, Europe Best FX Derivatives Provider, Europe.
Euromoney Cash Management Survey 2012 Corporates .
1 in Western Europe No.
1 in Germany No.
1 in Portugal No.
Euromoney Cash Management Survey 2012 Financial Institutions .
1 for EUR and No.
1 for USD Latin America No.
1 for EUR Europe No.
1 for EUR and No.
1 for USD Middle East No.
PASS Online-Banking Award 2012.
Coveted awards for maxblue .
Best Broker for the second time in a row Best Usability.
Finance Asia Structured Products Awards 2011.
Best FX Structured Products House.
Continuity, Insurance and Risk Award 2012.
Euromoney Awards for Excellence 2012.
For the second time in three years, Deutsche Bank has been named Best Global Investment Bank by Euromoney magazine at its annual Awards for Excellence 2012 and won four additional global Awards for Excellence .
Best Global Commodities House Best Global High Yield House Best Global Prime Broker Best Global Risk Management House.
Deutsche Bank also received the following 19 country and regional awards including more regional Best Investment Bank accolades than any other bank .
Best Risk Management House in the Middle East Best Investment Bank in Saudi Arabia Best Cash Management House in Western Europe Best Equity House in Western Europe Best Equity House in Germany Best Debt House in Germany Best Bank in Germany Best Investment Bank in Western Europe Best Investment Bank in Denmark Best Investment Bank in Germany Best Risk Adviser in Central Eastern Europe Best Investment Bank in Central Eastern Europe Best Investment Bank in Austria Best Equity House in Best M A House in Poland Best Debt House in the Nordics and Baltics Best Investment Bank in the Nordics and Baltics Best Risk Management House in the Middle East Best Investment Bank in Saudi Arabia Best Investment Bank in Africa Best Equity House in South Africa Best Flow House in the United States of America Best Risk Management House in Latin America.
Trade Forfaiting Review Excellence Awards 2012.
Best Trade Bank in Oil and Energy.
Cannes Lions 2012.
Cannes Lions Gold Design Lion in the category Environmental Design Exhibitions Live Events for the Anamorphic Mirror Cannes Lions Silver Design Lion in the category Environmental Design Exhibitions Live Events .
Euromoney FX Survey 2012.
Clients have once again acknowledged Deutsche Bank s leading position in Foreign Exchange by voting the Bank No.
1 in Euromoney s annual FX survey for the eighth consecutive year.
In its survey results, Euromoney said Deutsche Bank has become the unquestioned market leader in FX during the last decade with its astute combination of superior trading technology and market making.
The survey results, compiled from over 15,000 corporate and institutional client votes, showed that Deutsche Bank has a 14.
6 share of the overall FX market.
It was also voted No.
1 in 10 sub categories including Swap, Spot Forward and E-Trading.
A full list of No.
1 positions is below .
By market share .
Overall market share Spot Forward market share Swap market share Options market share E-trading.
By institution type .
By market share by region .
Institutional Investor All-Asia Survey.
1 Currency Foreign Exchange, Sameer Goel Team No.
1 Economics, Michael Spencer, Jun Ma Team No.
1 Gaming Lodging, Karen Tang Team No.
1 Indonesia, Raymond Kosasih Team.
The Asset Triple A Awards 2012.
Best Electronic Banking Solution in Thailand Integrated Clearing Bank solutions for payments and collections IATA Thailand Role Provider .
Best in Treasury and Working Capital Best Multinational Corporation Large Corporate Bank in Pakistan.
Asiamoney Best Domestic Bank Awards 2012.
Best Domestic Equity House The Philippines Deutsche Regis.
Profit Loss Digital FX Awards 2012.
Winner One to Watch Best Leveraged Sector Platform.
AsianInvestor Investment Performance Awards 2012.
Best ETF Provider for Asia Pacific with db X-trackers ETFs, 3rd year running .
It s the 3rd consecutive year that Deutsche Bank receives this award, which reconfirms the success of Deutsche s platform year after year.
Deutsche Bank is one of the world s largest ETF providers with more than US 40 billion in assets under management.
With more than 240 ETFs in 10 stock exchanges globally on various asset classes including equities, fixed income, credit long short , money market, currencies and commodities, investors are able to implement a wide range of market strategies in a transparent, flexible and efficient manner.
For more information please visit etf.
The Asian Banker Transaction Banking Awards 2012.
Best Transaction Banking Product, Asia Pacific FX4Cash The Asian Banker Achievement Award for Euro Clearing, Asia Pacific.
Financial-i Leaders in Innovation Awards 2011.
Leader in Innovation Cash Management Provider, Asia.
Décideurs Leaders de la Finance 2012.
Deutsche Bank has been named Best Foreign Investment Bank and received a Special Prize for Capital Markets at the Leaders League Awards by magazine Décideurs, a French publication for bankers and senior business executives.
Business Continuity Institute Disaster Recovery Awards 2012.
Deutsche Bank won the Recovery of the Year award at BCI s annual Disaster Recovery Awards for its successful response to protect staff and maintain business operations during Hurricane Irene in August 2011.
BCI is one of the world s leading business continuity organizations.
More about Deutsche Bank and Risk.
Middle East Awards 2012 Hedge Funds World, Middle East conference.
Deutsche Bank s Alternative Fund Services business received the Best Fund Administrator award at the Hedge Funds World Middle East conference as part of its Middle East Awards 2012 Ceremony.
The Hedge Funds World Middle East Awards highlight institutions that have demonstrated an unparalleled ability and continually set standards of excellence in the industry.
The Best Fund Administrator category, which recognizes administrators and custodians, was judged on diversification of products and services, approach to back office services as well as responsive and professional customer service.
FinanceAsia Japan Achievement Awards 2011.
Best FX House for the 5th consecutive year Best Derivatives House for the 4th consecutive year Best International M A House of the Year Best Cross-Border M A Deal of the Year Role Sole financial advisor Best Secondary Equity Offering Japan Retail Fund Role joint bookrunner .
AsianInvestor Korean Awards 2012.
Best Korean Fixed Income, Small Fund House Total AUM below USD 10 billion .
Korea Fund Awards 2012.
Best Global Emerging Market Equity Fund for 2011.
Best Broad Emerging Market Equity Fund for 2011.
Hedgeweek Awards 2012.
Best Asian Prime Broker.
The Asset Triple A Transaction Banking Awards 2012.
Best E-solutions and Technology Partner Bank Pan Asian Best in Treasury Cash Management North Asia Specialist award Technology Implementation Best Cash Management Solution with workflow project management technology.
The Asset Triple A Securities and Fund Services Awards 2012.
Best Subcustodian India for the 7th consecutive year Best Subcustodian Pakistan.
Best Domestic Custodian India for the 3rd consecutive year Best Domestic Custodian Indonesia for the 5th consecutive year Best Domestic Custodian Pakistan Best Domestic Custodian Philippines Best Domestic Custodian Sri Lanka.
Best Depository Receipt Bank Vietnam.
Best in Corporate Trust Malaysia Best in Corporate Trust Singapore for the 3rd consecutive year .
Best Fund Administrator Retail Funds India for the 3rd consecutive year Best Fund Administrator Retail Funds Singapore for the 3rd consecutive year Best Fund Administration Retail Funds Mandate Eastspring Investments.
Best MNC Large Corporate Bank Pakistan Best MNC Large Corporate Bank Sri Lanka Best MNC Large Corporate Bank Thailand.
Best Electronic Banking Solution Thailand.
The Asset Triple A Asian Awards.
Regional House Awards 2011.
Best Equity House Best Emerging Markets Bond House.
Regional Deal Awards.
Best Secondary Offering Best Sovereign Bond Best Liability Management.
The jury of the Immobilien Manager publishing company, rewarding particularly successful or innovative construction projects in Germany, Austria and Switzerland, gave this years immobilienmanager.
AWARD to Deutsche Bank for the refurbishment of its headquarters.
Euromoney Private Banking Survey 2012.
Deutsche Bank Wealth Management was ranked number one globally for Foreign Exchange and number 2 for Lending Financing Solutions in the yearly private banking survey of the renowned specialized magazine Euromoney.
And Deutsche Bank Wealth Management has been named the Best Private Bank in Germany for the second time in a row.
Overall, Deutsche Bank was ranked number one in the following 19 categories for the German market .
Best private banking services overall Net-worth-specific services Ultra High Net Worth Greater than US 30 million Net-worth-specific services High Net Worth II US 10 million to US 30 million Net-worth-specific services High Net Worth I US 1 million to US 10 million Bespoke Wealth Planning Equity portfolio management Fixed income portfolio management Range of investment products Range of advisory services Real estate investment Lending Financing Solutions Foreign exchange Structured products Philanthropy services Specialized services Corporate executives Specialized services Inherited wealth and business Corporate advisory for private banking clients Yacht and Aircraft Financing Tax guidance and services.
Euromoney Deals of the Year.
Six Deutsche Bank deals featured in Euromoney magazine s Deals of the Year awards for outstanding transactions in 2011.
These awards highlight the Bank s debt, equity and advisory expertise across regions.
FONDS professionell German Fund Award 2012.
The magazine FONDS professionell in collaboration with the Institut für Vermögensaufbau and the Frankfurter Allgemeine Zeitung published a ranking of the best fund companies, broker pools and investment products.
For the sixth consecutive year DWS was awarded with the Deutscher Fondpreis for outstanding service.
In addition, DWS Deutschland fund and DWS Top Dividende fund were awarded the best ranking in Aktien Deutschland and Aktien Dividenden respectively.
Euro Fund Innovation of the Year.
DWS received the Golden Bull by the editors of the Finanzen publishing company for the DWS TRC Top Dividende fund in the category Innovation Fund of the Year .
In addition, several DWS funds were awarded by the editors of the magazines uro, uro am Sonntag and uro fondsxpress with the uro Fund Award.
They analyzed the performances of more than 3,000 funds in 68 categories over a period of one, three, five and ten years DWS received 21 awards in total within 14 categories.
Institutional Investor All-Europe Research Team.
Deutsche Bank has been ranked No 1 for the second consecutive year on Institutional Investor s All-Europe Research Team, the benchmark 2012 survey of the region s best sell-side equity research analysts.
Deutsche Bank achieved 17 No 1 positions, a record in the history of the survey.
Global Finance World s Best Treasury Cash Management Providers 2012.
Best Overall Bank for Cash Management Western Europe Best Bank for Risk Management Western Europe Best Bank for Payments and Collections Western Europe Best Provider of Money Market Funds Western Europe for DB Advisors, for the second consecutive year .
Euromoney 2012 Trade Finance Survey.
Deutsche Bank s Trade Finance franchise in the Americas has been named by its clients as the Best Domestic Trade Finance Provider in both the US and Brazil.
The accolades, just two of 36 won by the Bank in the Euromoney 2012 Trade Finance Survey, underline the progress made by Global Transaction Banking in the Americas region.
Deutsche Bank was also ranked number one for Domestic Trade Finance Provider in Germany, Poland and Saudi Arabia.
Deutsche Bank was also named Best Regional Trade Finance Provider for Western Europe.
Risk Awards 2012.
Credit Derivatives House of the Year Hedge Fund Derivatives House of the Year for the fourth consecutive year Interest Rate Derivatives House of the Year.
Asia Asset Management Best of the Best 2011 Awards.
ETF Manager of the Year Hong Kong ETF Manager of the Year Singapore Best New ETF db X-trackers MSCI Asia ex-Japan High Dividend Yield Index ETF Singapore Best New ETF db X-trackers MSCI Asia ex-Japan High Dividend Yield Index ETF in Asia ETF Market Leader in Asia Best ETF Manager for Investor Education.
Benchmark Fund of the Year Awards 2011.
Outstanding Achiever Provider of the Year ETF Best-in-Class Best Investor Education ETF.
GOOD DESIGN Awards 2011.
Deutsche Bank magazine results for small and midcaps in Germany received for the second time in a row the renowned GOOD DESIGN AWARD in the category Graphics Identity Packaging.
The GOOD DESIGN AWARD is organized by the Chicago Athenaeum Museum of Architecture and Design and the European Centre for Architecture Art Design and Urban Studies.
It is the world s oldest design competition.