Defendant Name:
Deutsche Bank Trust Company Americas
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Deutsche Bank AG
SIC Code:
6029
CUSIP:
D1819089
Document Reference:
33-10523
Document Details
Legal Case Name
In the Matter of Deutsche Bank Trust Company Americas
Document Name
Order Instituting Cease-and-Desist Proceedings, Pursuant to Section 8A of the Securities Act of 1933, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
Document Date
20-Jul-2018
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
According to the SEC, "These proceedings arise out of DBTCA's improper practices involving the pre-release of American Depositary Receipts ("ADRs") . . . Contrary to how pre-release transactions were supposed to work, DBTCA at times pre-released ADRs to Pre-Release Brokers in circumstances where DBTCA was negligent with respect to whether the Pre-Release Brokers, or the parties on whose behalf the pre-released ADRs were being obtained, actually beneficially owned the corresponding number of ordinary shares, as they represented to DBTCA in their Pre-Release Agreements. The result of this conduct was the issuance of ADRs that in many instances were not backed by ordinary shares as required by the ADR facility."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Disgorgement
Individual:
$44,458,001.08
Shared:
Civil Penalty
Individual:
$22,229,000.54
Shared:
Pre-Judgment Interest
Individual:
$6,597,826.59
Shared:
