Defendant Name: Deutsche Bank Securities, Inc.

Defendant Type: Subsidiary of Public Company

Document Reference: 2016-213

Document Details

Legal Case Name In the Matter of Deutsche Bank Securities, Inc.
Document Name SEC: Deutsche Bank Failed to Properly Safeguard Research Information
Document Date 12-Oct-2016
Document Format Administrative Proceeding
File Number 3-17622
Allegation Type Broker Dealer
Document Summary On October 12, 2016, the SEC issued a press release announcing "that Deutsche Bank Securities has agreed to pay a $9.5 million penalty for failing to properly safeguard material nonpublic information generated by its research analysts. Deutsche Bank also published an improper research report and failed to properly preserve and provide certain electronic records sought by the SEC during its investigation."

Disgorgement & Penalty Information

Resolutions
Censured

Related Documents:

34-79083 12-Oct-2016 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934 and Section 203(e) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
The Commission stated: "This matter concerns three separate violations of the federal securities laws by DBSI: (1) the failure to establish, maintain, and enforce policies and procedures reasonably designed to prevent the misuse of material, nonpublic information generated by its equity research analysts, in violation of Section 15(g) of the Exchange Act; (2) the publication of a research report that was falsely certified as accurately reflecting the lead analyst's view regarding the covered company, in violation of Rule 501 of Regulation Analyst Certification ("Regulation AC"); and (3) the failure to preserve and furnish promptly to the Commission staff certain electronic communications relating to DBSI's business as a broker and dealer, in violation of Section 17(a) of the Exchange Act and Rule 17a-4 thereunder."

Related Actions:

In the Matter of Charles P. Grom
Charles P. Grom