Investment Banking

Deutsche tells clients they could be cut off in compliance effort

Latest Deutsche Bank letters seek documentation from around 1,000 investment bank clients

Deutsche Bank has given around 1,000 investment-banking clients a month or less to hand over company-ownership information and other documentation in the bank’s protracted effort to close compliance gaps, according to the bank and people familiar with the demands.

The “know your customer,” or KYC, letters have gone to asset managers and corporate clients in recent weeks as part of an continuing, multiyear effort, some of the people said.

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