New York regulators on Tuesday fined Deutsche Bank $150 million for its dealings with Jeffrey Epstein. This came five days after the arrest of Epstein confidant Ghislaine Maxwell on sex trafficking charges.

Axios Re:Cap digs into what secrets Maxwell might know about Epstein's business dealings, and why it's causing some sleepless nights in the Hamptons, with Business Insider's Meghan Morris.

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Deutsche Bank pays New York $150 million for dealings with Jeffrey Epstein

Photo: Stephanie Keith/Getty Images

Deutsche Bank has agreed to pay the state of New York a $150 million penalty for "significant compliance failures" related to its dealings with now-dead convicted sex offender Jeffrey Epstein, the State Department of Financial Services announced Tuesday.

Why it matters: Deutsche Bank "failed to properly monitor account activity conducted on behalf of the registered sex offender despite ample" public information about Epstein's criminal history, according to regulators. It's the first time any financial institution has been penalized for its dealings with Epstein.

The U.S. is now playing by China's internet rules

Illustration: Aïda Amer/Axios

President Trump's crackdown on TikTok suggests that the U.S. government is starting to see the internet more like China does — as a network that countries can and should control within their borders.

The big picture: Today's global internet has split into three zones, according to many observers: The EU's privacy-focused network; China's government-dominated network; and the U.S.-led network dominated by a handful of American companies. TikTok's fate suggests China's model has U.S. fans as well.

GOP plans "nightly surprise" for revamped convention

President Trump at the 2016 Republican National Convention. Photo: Bill Clark/Getty Images

The reworked Republican National Convention will be a four-night spectacle including still-under-wraps venues, a 10 p.m. "nightly surprise" and guests and themes playing to "the forgotten men and women of America," two senior Trump campaign officials involved tell Axios.

Driving the news: The messaging will focus heavily on "very granular details" of what a second term for President Trump would look like — answering a question Trump left hanging in a Fox News event earlier this summer — and attack cancel culture, "radical elements" of society and threats to public safety.