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Deutsche Bank to pay $9.5 mil. penalty www3.nhk.or.jp
US regulators say Germany's leading lender has agreed to pay a fine of 9.5 million dollars. They say Deutsche Bank failed to properly safeguard non-public information generated by its analysts.
The officials at the Securities and Exchange Commission say the bank encouraged its equity research analysts to disclose unpublished reports to certain customers.
The commission has also accused the bank of issuing a report that is inconsistent with the opinions of the analysts who prepared it.
The SEC officials point out that information generated by research analysts, including ratings and estimates, has the power to move markets.
The commission says broker-dealers must enforce policies to prevent the abuse of such information.
The bank may face another huge penalty over the allegedly illegal sales of mortgage-backed securities before the financial crisis. The US Justice Department is investigating those allegations.
Published Date:2016-10-13
