Defendant Name:
Deutsche Bank Securities, Inc.
Defendant Type:
Subsidiary of Public Company
Document Reference:
2016-264
Document Details
Legal Case Name
In the Matter of Deutsche Bank Securities Inc.
Document Name
Deutsche Bank Settles Charges of Misleading Clients About Order Router
Document Date
16-Dec-2016
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
On December 16, 2016, the SEC announced in a press release that Deutsche bank agreed to admit that "it misled clients about the performance of a core feature
of its automated order router that primarily sent client orders to dark pools." According to the SEC: "Deutsche Bank made materially misleading statements and omissions
concerning the Dark Pool Ranking Model feature of one of its order routers, known as SuperX+."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured