Deutsche Bank Spying Scandal Brewing

In a development reminiscent of the Hewlett Packard spying scandal from 2006, the German press is reporting that Deutsche Bank spied on certain of its board members and a “troublesome shareholder,” as well. According to Spiegel Online, an investigation commissioned by Deutsche Bank that resulted in a 150-page report by law firm Cleary Gottlieb Steen & Hamilton “has revealed that the bank spied on several of its management board members, supervisory board members and on at least one shareholder.”  Full details are available in this post on my Enforcement Action blog over at Compliance Week.