Defendant Name:
Deutsche Bank Trust Company Americas
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Deutsche Bank AG
Document Reference:
2018-138_3-18605
Document Details
Legal Case Name
In the Matter of Deutsche Bank Trust Company Americas
Document Name
Deutsche Bank to Pay Nearly $75 Million for Improper Handling of ADRs
Document Date
20-Jul-2018
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
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."
Disgorgement & Penalty Information
Resolutions
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Disgorgement
Individual:
$44,400,000.00
Shared:
Civil Penalty
Individual:
$22,200,000.00
Shared:
Pre-Judgment Interest
Individual:
$6,600,000.00
Shared: