Deutsche Bank, trader settle U.S. SEC charges over bond prices
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.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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