Violation Tracker Individual Record

Company: 
Deutsche Bank Securities, Inc.
Current Parent Company: 
Deutsche Bank
Penalty: 
$6,500,000
Year: 
2013
Date: 
December 19, 2013
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Violation Description: 

The Financial Industry Regulatory Authority fined Deutsche Bank Securities, Inc. $6.5 million and censured the firm for serious financial and operational deficiencies primarily related to its enhanced lending program. The violations, which were originally identified during a 2009 examination, included lack of transparency in the firm's financial records and inaccurate calculations resulting in overstated capitalization and inadequate customer reserves.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Financial Industry Regulatory Authority
Civil or Criminal Case: 
civil
HQ Country of Parent: 
Germany
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking & securities
Notes: 

FINRA is a securities industry self-regulatory body authorized by the federal government.

Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.