Deutsche Bank AG will pay nearly $4.5 million to settle U.S. Securities and Exchange Commission charges that its traders and salespeople misled customers about prices of commercial mortgage-backed securities, the regulator said on Monday.
The SEC said Deutsche Bank will distribute more than $3.7 million to customers and pay a $750,000 fine, while Benjamin Solomon, the bank`s former global head of securitized products, will pay a $165,000 fine and accepted a 12-month suspension from the securities industry.
Deutsche Bank and Solomon did not admit or deny wrongdoing, and provided substantial cooperation during the SEC`s probe.
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Updated: Mon, Feb 12, 2018
08:50 PM IST
08:50 PM IST
Reuters