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: