Violation Tracker Individual Record

Company: 
Deutsche Bank AG
Current Parent Company: 
Deutsche Bank
Penalty: 
$208,000,000
Year: 
2006
Date: 
December 21, 2006
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Secondary Offense: 
securities issuance or trading violation
Violation Description: 

The New York Attorney General announced a $208 million settlement -- $102 million in restitution, $20 million in penalties and $86 million in fee reductions -- with Deutsche Bank to resolve allegations of unlawful trading of mutual funds through market timing. Part of the settlement was negotiated together with the SEC, which issued its own announcement; see the Violation Tracker entry at https://ag.ny.gov/press-release/state-resolves-trading-issues-deutsche-bank

Level of Government: 
state
Action Type: 
agency action
Agency: 
New York Attorney General
Civil or Criminal Case: 
civil
Facility State: 
New York
HQ Country of Parent: 
Germany
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking & securities
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.