Deutsche Bank closes crude oil double long ETN

Deutsche says it will redeem all the outstanding PowerShares DB Crude Oil Double Long ETN, as these limitations have caused a 'regulatory event', meaning it must redeem the notes. The bank states that none of its other notes are affected, nor are PowerShares DB ETFs offered by DB Commodity Services LLC. Despite this, Deutsche says it will continue to maintain and develop new commodity exchange-traded products, while providing a full range of commodity trading services, in line with the changing regulatory environment. The bank expects to provide notice of the redemption on Septembe...