Defendant Name: Deutsche Bank Securities, Inc.

Defendant Type: Subsidiary of Public Company
Public Company Parent: Deutsche Bank AG
SIC Code: 6021
CUSIP: D1819089

Initial Case Details

Legal Case Name In the Matter of Deutsche Bank Securities Inc.
First Document Date 12-Oct-2016
Initial Filing Format Administrative Action
File Number 3-17622
Allegation Type Broker Dealer

Violations Alleged

Other
• Sections 15(g), 17(a) Exchange Act; Rule 17a-4 Exchange Act; Rule 501 Regulation AC

Resolutions

First Resolution Date 12-Oct-2016
Headline Total Penalty and Disgorgement $9,500,000

Related Documents:

34-79083 12-Oct-2016 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934 and Section 203(e) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
The Commission stated: "This matter concerns three separate violations of the federal securities laws by DBSI: (1) the failure to establish, maintain, and enforce policies and procedures reasonably designed to prevent the misuse of material, nonpublic information generated by its equity research analysts, in violation of Section 15(g) of the Exchange Act; (2) the publication of a research report that was falsely certified as accurately reflecting the lead analyst's view regarding the covered company, in violation of Rule 501 of Regulation Analyst Certification ("Regulation AC"); and (3) the failure to preserve and furnish promptly to the Commission staff certain electronic communications relating to DBSI's business as a broker and dealer, in violation of Section 17(a) of the Exchange Act and Rule 17a-4 thereunder."
2016-213 12-Oct-2016 Press Release--Administrative Proceeding
SEC: Deutsche Bank Failed to Properly Safeguard Research Information
On October 12, 2016, the SEC issued a press release announcing "that Deutsche Bank Securities has agreed to pay a $9.5 million penalty for failing to properly safeguard material nonpublic information generated by its research analysts. Deutsche Bank also published an improper research report and failed to properly preserve and provide certain electronic records sought by the SEC during its investigation."

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