Company: ADZCF
Filing Date: 2025-03-13
Form Type: 20-F
Source: 0001159508-25-000020
Chunk: 102

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-03-13
Form: 20-F
Chunk 102
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 financial trading institution ( Finanzhandelsinstitut). The separation requirement applies if certain thresholds are exceeded, which is the case for Deutsche Bank. In addition, the German Separation Act authorizes the BaFin to prohibit the deposit-taking bank and its affiliates, on a case-by-case basis, from engaging in market-making and other activities that are comparable to the activities prohibited by law, if these activities may put the solvency of the deposit-taking bank or any of its affiliates at risk. In the event that the BaFin orders such a prohibition, the respective activities must be discontinued or transferred to a separate financial trading institution. The financial trading institution may be established in the form of an investment firm or a bank and may be part of the same group as the deposit-taking bank. However, it must be economically and organizationally independent from the deposit-taking bank and its other affiliates, and it has to comply with enhanced risk management requirements. Deutsche Bank has established a compliance and control framework to ensure that no prohibited activities are conducted. As a result, Deutsche Bank has not established a financial trading institution.

| 60 |

| Deutsche Bank                   |
| Annual Report 2024 on Form 20-F |

Anti-Financial Crime, Money Laundering, Sanctions, Fraud, Bribery and Corruption Financial sector participants are required to take steps to prevent the abuse of the financial system through money laundering and other financial crime. The European Union has continually sought to strengthen its framework for anti-money laundering and combating the financing of terrorism, in line with international standards set by the Financial Action Task Force. On July 20, 2021, the European Commission presented a new package of legislative proposals to strengthen the existing rules (the “AML/CFT Package”). Upon completion of the legislative process for the AML/CFT Package, the legal instruments forming the AML/CFT Package were published in the EU Official Journal with a July 2024 effective date. One key element of the AML/CFT Package is the establishment of an integrated European AML supervisory system closely involving national supervisors and the newly established EU Anti-Money Laundering Authority (“AMLA”) as well as the creation of the single rulebook expanding the list of obliged entities and including harmonized, more detailed and granular rules on, among other things, customer due diligence, beneficial ownership, and AML/CFT risk management. The requirements of the Anti-Money Laundering Regulation and the Anti-Money Laundering Directive 6 will be applicable from 10 July