Deutsche Bank, UBS targeted in high-speed trading inquiry

U.S. regulators are targeting German-based Deutsche Bank and Switzerland-based UBS, reports Reuters.

It adds the banks say they’re “caught up in an inquiry” but that they’re cooperating. The investigation is based on allegations that the institutions are “allowing high-speed traders to make a profit at the expense of institutional investors, such as pension funds and insurance companies.”

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The staff of Advisor.ca have been covering news for financial advisors since 1998.