U.S. fines Deutsche Bank $16 million to settle China, Russia corruption charges

WASHINGTON (Reuters) - Deutsche Bank has agreed to pay more than $16 million (£13 million) to settle charges that it violated U.S. corruption laws by hiring relatives of foreign government officials in order to win or retain business, the U.S. regulator said in a statement. The Securities and Exchange Commission (SEC) alleged that Germany's largest lender hired poorly qualified or unqualified relatives of officials in Asia and Russia at their request, in violation of the Foreign Corrupt..