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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
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- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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NEWSLETTERS & ALERTS
Deutsche Bank Settles Research Charges - SEC
[Photo - Squawk Box, CNBC.com ]
Deutsche Bank Securities agreed to pay a $9.5Mn penalty to settle SEC charges that the firm; (i) failed to properly safeguard material nonpublic information generated by its research analysts; (ii) published an improper research report; and, (iii) failed to preserve and provide certain e-records to the regulator.
Deutsche Bank allegedly encouraged its equity research analysts to communicate frequently with customers and DB sales and trading personnel without having adequate pols and procedures to prevent analysts from disclosing yet-to-be-published views and analyses, etc. - e.g., DB issued a research report with a “BUY” rating for discount retailer Big Lots that was inconsistent with the personal view of the analyst who prepared and certified it as true despite privately telling others that Big Lots should have been downgraded. The analyst was charged by the SEC earlier this year.
As for DB’s electronic records, the firm could not represent that it had recovered all DB Chats on its internal messaging system for the period under investigation.