Deutsche Bank AG agreed to pay a $425 million fine and hire an independent compliance monitor to settle New York Department of Financial Services charges alleging that traders in a Moscow affiliate of the bank conducted a money laundering "mirror-trading" scheme.

The Board of Governors of the Federal Reserve System adopted a final rule to revise the capital plan and stress test requirements for bank holding companies with total consolidated assets ranging between $50 billion and $250 billion, on-balance sheet foreign exposure of less than $10 billion and nonbank assets of less than $75 billion.

SEC Division of Trading and Markets Associate Director Wenchi Hu will leave the Commission in February 2017.

In a speech titled "Transitions Present Opportunities," CFTC Commissioner Sharon Y. Bowen outlined her views on Regulation Automated Trading, cybersecurity, position limits and diversity.

The First Department of the New York Appellate Division found that the seller of protection under a credit default swap ("CDS") did not act in bad faith when it took certain actions affecting the price of a security that effectively reduced the settlement amount owed by the seller under the CDS.