Deutsche Warns Clients of Cutoff

This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (June 12, 2019).

Deutsche Bank AG 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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