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Deutsche Bank to pay $9.5 million penalty over research information -SEC
October 12, 2016 / 3:31 PM / a year ago

Deutsche Bank to pay $9.5 million penalty over research information -SEC

WASHINGTON, Oct 12 (Reuters) - Deutsche Bank Securities has agreed to pay a $9.5 million penalty for failing to properly safeguard material non-public information generated by its research analysts, the U.S. Securities and Exchange Commission said on Wednesday.

It said Deutsche Bank “lacked adequate policies and procedures” to prevent analysts from disclosing to customers “yet-to-be-published views and analyses, changes in estimates, and short-term trade recommendations during morning calls, trading day squawks, idea dinners, and non-deal road shows.” (Reporting by Mohammad Zargham)

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