Defendant Name: Deutsche Bank AG

Defendant Type: Public Company

Document Reference: 34-86740-s

Document Details

Legal Case Name In the Matter of Deutsche Bank AG
Document Name SEC Charges Deutsche Bank with FCPA Violations Related to Its Hiring Practices
Document Date 22-Aug-2019
Document Format Administrative Proceeding
File Number 3-19373
Allegation Type Foreign Corrupt Practices Act
Document Summary The SEC stated: "Deutsche Bank AG will pay more than $16 million to settle charges that it violated the FCPA by hiring relatives of foreign government officials in order to improperly influence them in connection with investment banking business."

Disgorgement & Penalty Information

Resolutions
None Specified
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:

Disgorgement

Individual:     $10,785,900.00 Shared:    

Civil Penalty

Individual:     $3,000,000.00 Shared:    

Pre-Judgment Interest

Individual:     $2,392,950.00 Shared:    

Related Documents:

34-86740 22-Aug-2019 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On August 22, 2019, the SEC instituted settled administrative and cease and desist proceedings against Deutsche Bank AG ("Deutsche Bank"). The SEC stated: "This matter concerns violations of the books and records and internal accounting controls provisions of the Foreign Corrupt Practices Act of 1977 (the "FCPA") by Deutsche Bank. Between at least 2006 and 2014, Deutsche Bank provided valuable employment to the relatives of foreign government officials in various parts of the world as a personal benefit to the officials in order to improperly influence them to assist the bank in obtaining or retaining business or other benefits."