💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Deutsche Bank's U.S. brokerage fined $1.4 million for reporting problems

Published 06/27/2018, 05:33 PM
Updated 06/27/2018, 05:40 PM
© Reuters. FILE PHOTO:    A Deutsche Bank sign is seen on the floor of the New York Stock Exchange
DBKGn
-

NEW YORK (Reuters) - Deutsche Bank AG's (DE:DBKGn) U.S. securities division agreed to pay a $1.4 million fine to the Financial Industry Regulatory Authority on Wednesday to settle charges that it violated reporting and supervisory rules related to equity and municipal bond trades.

Deutsche Bank declined to comment on the matter. The German bank did not admit nor deny the charges.

© Reuters. FILE PHOTO:    A Deutsche Bank sign is seen on the floor of the New York Stock Exchange

FINRA, the U.S. securities industry's self-regulator, said that between June 2006 and April 2017 the bank's "systemic deficiencies" and lack of supervisory procedures led to billions of Order Audit Trail System violations. The regulator uses information fed into the Order Audit Trail System to monitor the fair handling and execution of securities orders.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.