Influential shareholder advisory group ISS is recommending that shareholders attending Deutsche Bank's shareholder meeting vote for a special audit on whether management at the lender breached legal obligations in connection with various legal and regulatory matters.
The headquarters of Germany's Deutsche Bank are photographed early
evening in Frankfurt, Germany, January 26, 2016. REUTERS/Kai
Pfaffenbach/File Photo
FRANKFURT: Influential shareholder advisory group ISS is
recommending that shareholders attending Deutsche Bank's shareholder
meeting vote for a special audit on whether management at the lender
breached legal obligations in connection with various legal and
regulatory matters.
"The recent sudden resignation of the supervisory board member in
charge of these internal investigations, and the circumstances
surrounding his resignation, raise significant doubts about the
supervisory board's ability to investigate potential wrongdoing by its
own members, which highlights a conflict of interest," ISS said on
Tuesday.Last week, Deutsche Bank announced the departure of the supervisory board's member tasked with clearing up past scandals.
ISS also recommended that shareholders vote against the lender's remuneration system for managers.
(Reporting by Arno Schuetze; Editing by Maria Sheahan)
- Reuters
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