{"id":6050,"date":"2016-10-12T19:19:58","date_gmt":"2016-10-13T00:19:58","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1136"},"modified":"2021-09-20T15:43:06","modified_gmt":"2021-09-20T20:43:06","slug":"deutsche-bank-reaches-9-5b-settlement-sec-not-properly-safeguarding-information","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/deutsche-bank-reaches-9-5b-settlement-sec-not-properly-safeguarding-information\/","title":{"rendered":"Deutsche Bank Reaches $9.5B  Settlement With the SEC For Not Properly Safeguarding Information"},"content":{"rendered":"<p>\t\t\t\tDeutsche Bank Securities (DB) will pay a $9.5B penalty to the U.S. Securities and Exchange Commission for not properly safeguarding material nonpublic research information. Even though it is settling, Deutsche Bank is not denying or admitting to the findings.<\/p>\n<div class=\"WordSection1\">\n<div class=\"\">According to the regulator, Deutsche Bank urged its equity research analysts to communicate often with trading personnel, sales staff, and customers, but it did not have in place the proper procedures and policies to stop analysts from disclosing certain information, such as analyses and views that hadn\u2019t been published yet, estimate changes, trading day squawks, short-term trading recommendations, non-deal road shows, and idea dinners. The SEC\u2019s order also found that the bank had put out a research report that had a \u201cBUY\u201d rating for Big Lots, the discount retailer, but that the rating did not line up with the perspective of the analyst who had prepared and certified it as accurate.<\/div>\n<div class=\"\"><\/div>\n<div class=\"\">This particular individual, analyst Charles G<span class=\"\">rom<\/span>, had told others that the discount retailer should have gotten a downgrade.\u00a0<span class=\"\">Grom<\/span>\u00a0was eventually charged by the SEC with certifying a stock rating in a manner that was not consistent with his own views. He settled the charges with a suspension from the securities industry and by agreeing to pay a $100K penalty.<\/div>\n<div class=\"\"><\/div>\n<div class=\"\"><\/div>\n<\/div>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/deutsche-bank-reaches-9-5b-settlement-sec-not-properly-safeguarding-information\/#more-6050\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Deutsche Bank Securities (DB) will pay a $9.5B penalty to the U.S. Securities and Exchange Commission for not properly safeguarding material nonpublic research information. Even though it is settling, Deutsche Bank is not denying or admitting to the findings. According to the regulator, Deutsche Bank urged its equity research analysts to communicate often with trading [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3818,3752,3760,3795,3761],"tags":[3680],"class_list":["post-6050","post","type-post","status-publish","format-standard","hentry","category-deutsche-bank","category-financial-firms","category-sec-enforcement","category-sec-settlements","category-securities-and-exchange-commis","tag-charles-grom"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Deutsche Bank Reaches $9.5B Settlement With the SEC For Not Properly Safeguarding Information &#8212; Investor Lawyers Blog &#8212; October 12, 2016<\/title>\n<meta name=\"description\" content=\"Deutsche Bank Securities (DB) will pay a $9.5B penalty to the U.S. Securities and Exchange Commission for not properly safeguarding material nonpublic &#8212; October 12, 2016\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/deutsche-bank-reaches-9-5b-settlement-sec-not-properly-safeguarding-information\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Deutsche Bank Reaches $9.5B Settlement With the SEC For Not Properly Safeguarding Information &#8212; Investor Lawyers Blog &#8212; October 12, 2016\" \/>\n<meta name=\"twitter:description\" content=\"Deutsche Bank Securities (DB) will pay a $9.5B penalty to the U.S. Securities and Exchange Commission for not properly safeguarding material nonpublic &#8212; October 12, 2016\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Deutsche Bank Reaches $9.5B Settlement With the SEC For Not Properly Safeguarding Information &#8212; 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