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 16-Dec-2016
Initial Filing Format Administrative Action
File Number 3-17730
Allegation Type Broker Dealer

Violations Alleged

Securities Act
• Sec 17(a)(2)
Other
• Rule 301(b)(2) Regulation ATS

Resolutions

First Resolution Date 16-Dec-2016
Headline Total Penalty and Disgorgement $18,500,000

Related Documents:

33-10272 16-Dec-2016 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Section 8A of the Securities Act of 1933, 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
On December 16, 2016, the SEC instituted a settled proceeding against Deutsche Bank Securities Inc. According to the SEC: "this case arises from Deutsche Bank’s material misstatements and omissions, during the period January 2012 through February 2014 (the “Relevant Period”), regarding its operation of SuperX+, an order router that primarily routes equity orders to venues known as “dark pools.”
2016-264 16-Dec-2016 Press Release--Administrative Proceeding
Deutsche Bank Settles Charges of Misleading Clients About Order Router
On December 16, 2016, the SEC announced in a press release that Deutsche bank agreed to admit that "it misled clients about the performance of a core feature of its automated order router that primarily sent client orders to dark pools." According to the SEC: "Deutsche Bank made materially misleading statements and omissions concerning the Dark Pool Ranking Model feature of one of its order routers, known as SuperX+."