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.

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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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