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February 12, 2018

Posted  June 1, 2018

The SEC announced an enforcement action against Deutsche Bank Securities, Inc. that resulted in a repayment of more than $3.7 million to consumers, including $1.48 million in disgorgement payments. The enforcement action was based on an SEC investigation that found traders and salespeople making false and misleading statements when negotiating sales of commercial mortgage-backed securities. The false and misleading statements led customers to overpay  for the securities and Deutsche Bank failed to have an adequate compliance program to prevent and detect the misconduct by its employees. SEC

Tagged in: Financial Institution Fraud, Housing and Mortgage Fraud, Misrepresentations,