German watchdog says Deutsche Bank has catching up to do

Deutsche Bank (DBKGn.DE) has some "catching up" to do under its new leadership to ensure its systems and processes are up to the requirements of international financial rules, the head of Germany's financial watchdog Bafin said. "It's not enough to have a good strategy," Bafin president Felix Hufeld told the Frankfurt business journalists' club. Deutsche Bank under its new chief executive John Cryan needs to ensure that reliable processes and controls are in place that fit the international regulatory environment, including the training of thousands of employees and investing billions in IT.

German watchdog says Deutsche Bank has catching up to do source: http://finance.yahoo.com/news/german-watchdog-says-deutsche-bank-100318844.html