Defendant Name: Deutsche Bank Securities, Inc.

Defendant Type: Subsidiary of Public Company

Document Reference: 2018-13

Document Details

Legal Case Name In the Matter of Deutsche Bank Securities Inc. and Benjamin Solomon
Document Name Deutshe Bank to Repay Misled Customers; Firm and Former Head Trader Settle SEC Charges
Document Date 12-Feb-2018
Document Format Administrative Proceeding
File Number 3-18367
Allegation Type Broker Dealer
Document Summary In a press release issued on February 12, 2018, the SEC "instituted an enforcement action against Deutsche Bank Securities Inc., which has agreed to repay more than $3.7 million to customers, which includes $1.48 million that was ordered as disgorgement."

Disgorgement & Penalty Information

Resolutions
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:

Disgorgement

Individual:     $1,480,000.00 Shared:    

Civil Penalty

Individual:     $750,000.00 Shared:    

Related Documents:

34-82686 12-Feb-2018 Administrative Proceeding
Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions
According to the SEC: "These proceedings arise out of the failure of DBSI and Solomon reasonably to supervise DBSI traders, and for DBSI reasonably to supervise DBSI salespeople, to prevent and detect violations of the antifraud provisions of the federal securities laws in connection with DBSI's secondary market transactions in non-agency commercial mortgage-backed securities ("CMBS")."

Other Defendants in Action:

Benjamin Solomon