Defendant Name: Deutsche Bank Securities, Inc.

Defendant Type: Subsidiary of Public Company
Public Company Parent: Deutsche Bank AG
SIC Code: 6029
CUSIP: D1819089

Initial Case Details

Legal Case Name In the Matter of Deutsche Bank Securities Inc.
First Document Date 20-Jul-2018
Initial Filing Format Administrative Action
File Number 3-18606
Allegation Type Broker Dealer

Violations Alleged

Other
• Section 15(b)(4)(E) Exchange Act

Resolutions

First Resolution Date 20-Jul-2018
Headline Total Penalty and Disgorgement $1,650,513

Related Documents:

34-83677 20-Jul-2018 Administrative Proceeding
Order Instituting Administrative Proceedings, Pursuant to Section 15(b)(4) of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions
The SEC stated that: "These proceedings arise out of DBSI's improper practices with respect to securities lending transactions involving pre-released American Depositary Receipts ("ADRs"). . . Since at least April 2012 until approximately June 2015, DBSI received from Pre-Release Brokers pre-released ADRs (American Depositary Receipts) where neither the Pre-Release Brokers nor DBSI had taken reasonable steps to satisfy the Pre-Release Brokers' obligations under the Pre-Release Agreements."
2018-138_3-18606 20-Jul-2018 Press Release--Administrative Proceeding
Deutsche Bank to Pay Nearly $75 Million for Improper Handling of ADRs
According to the SEC, "The case stems from a continuing SEC investigation into abuses involving pre-released ADRs. In proceedings against Deutsche Bank Trust Co. Americas (DBTCA), a depositary bank, and Deutsche Bank Securities Inc. (DBSI), a registered broker-dealer, the SEC found that their misconduct allowed pre-released ADRs to be used for abusive practices, including inappropriate short selling and inappropriate profiting around dividend payouts."