Defendant Name: Deutsche Bank AG

Defendant Type: Public Company

Document Reference: 2021-3

Document Details

Legal Case Name In the Matter of Deutsche Bank AG
Document Name SEC Charges Deutsche Bank With FCPA Violations Related to Third-Party Intermediaries
Document Date 08-Jan-2021
Document Format Administrative Proceeding
File Number 3-20200
AAER 4201
Allegation Type Foreign Corrupt Practices Act
Document Summary The SEC "announced charges against Deutsche Bank AG for violations of the Foreign Corrupt Practices Act (FCPA). As part of coordinated resolutions with the SEC and the Department of Justice, Deutsche Bank has agreed to pay more than $120 million, which includes more than $43 million to settle the SEC’s charges. "

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Monetary Penalties:

Disgorgement

Individual:     $35,000,000.00 Shared:    

Pre-Judgment Interest

Individual:     $8,000,000.00 Shared:    

Total Penalty

Individual:     $43,000,000.00 Shared:    

Related Documents:

34-90875 08-Jan-2021 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 January 8, 2021, the SEC instituted settled cease-and-desist proceedings against Deutsche Bank AG. The Commission stated "This matter concerns the improper use, from at least 2009 through 2016, by Deutsche Bank of third-party intermediaries, business development consultants, and finders (collectively "BDCs") to obtain and retain global business. Hundreds of BDCs were used during this timeframe, and their use was approved by past members of Deutsche Bank's senior management and various regional committees. Among those engaged were foreign officials, their relatives and associates in circumstances where bribery risks were neither assessed nor sufficient steps taken to mitigate bribery risks posed by such engagements . . . As a result of this conduct, Deutsche Bank violated the internal accounting control and books and records provisions of the Foreign Corrupt Practices Act of 1977. During this period approximately $7 million in payments to BDC's were improperly booked as legitimate expenses, and Deutsche Bank was unjustly enriched by approximately $35 million."
34-90875-s 08-Jan-2021 Administrative Summary
SEC Charges Deutsche Bank with FCPA Violations Related to Third Party Intermediaries
The SEC stated: "Deutsche Bank AG will pay more than $43 million to settle charges that it violated the Foreign Corrupt Practices Act (FCPA) in connection with its improper use of third-party intermediaries."