New York’s financial-services regulator said it fined Deutsche Bank $205m over allegations it sought to manipulate currency prices and mislead clients while failing to protect confidential customer information.

The German lender agreed to the fine in a consent order with New York’s Department of Financial Services. In a statement Wednesday, the regulator said Deutsche Bank traders and salespeople sought to skew foreign-exchange prices and charge excessive spreads. The regulator cited other control failures that it said had “the potential to improperly disadvantage customers and improperly affect markets”.