| For immediate release |
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The Federal Reserve Board today announced the issuance of a combined Order to Cease and Desist and of Assessment of a Civil Money Penalty against Hogi Patrick Hyun, a former employee of BT Singapore, a wholly owned non-bank subsidiary of Bankers Trust New York Corporation, New York, New York. Mr. Hyun, without admitting to any allegations, consented to the issuance of the Order in connection with his involvement in the marketing and sale of leveraged derivative transactions to customers of BTNYC and its subsidiaries. Mr. Hyun paid a fine of $120,000. A copy of the Order is attached.
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| Order (297 KB PDF) |