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BRIEF-NY A.G. Schneiderman says Deutsche Bank will pay $37 mln penalty for fraudulent order routing practices
December 16, 2016 / 4:00 PM / 7 months ago

BRIEF-NY A.G. Schneiderman says Deutsche Bank will pay $37 mln penalty for fraudulent order routing practices

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Dec 16 (Reuters) - New York A.G. Schneiderman

* New York A.G. Schneiderman announces Deutsche Bank will pay $37 million penalty for fraudulent order routing practices

* NY A.G. Schneiderman says "as part of agreement, Deutsche Bank admits that it misled investors and violated new york state and federal securities laws"

* NY A.G. Schneiderman says investigation of Deutsche Bank found, and bank has admitted, that bank's "marketing of dprm was materially misleading"

* NY A.G. Schneiderman-Payment to settle investigations into false statements, omissions made relating to marketing of bank's routing services

* NY A.G. Schneiderman says Deutsche Bank "failed to inform its clients that its "dark pool ranking model" was not functioning for over two years"

* NY A.G. Schneiderman says "misleading and self-serving marketing about order routing services will not be tolerated" Source text (on.ny.gov/2hrWDCl) Further company coverage:

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