FSA fines Deutsche £6.3m for market misconduct

The breaches arose from two separate transactions conducted by Deutsche during March 2004. The first was in relation to a book build in Scania AB B shares, while the second involved the stabilisation of Cytos Biotechnology shares. The FSA has also fined David Maslen, Deutsche’s former head of European cash trading, £350,000 for being knowingly concerned in the failure to observe proper standards of market conduct in the Scania transaction. The FSA found Deutsche breached Principle 5 – by failing to observe proper standards of market conduct – because Maslen, who had an active role in th...