Deutsche Bank to Pay $6.5M in FINRA Civil Charges


A unit of Deutsche Bank AG will pay $6.5 million to settle civil charges stemming from "serious and operational deficiencies" uncovered by regulators in its enhanced lending program, Wall Street's self-funded regulator said on Thursday.

The Financial Industry Regulatory Authority (FINRA) said that Deutsche Bank Securities Inc is settling the matter without admitting or denying the charges.

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FINRA said it uncovered problems during a 2009 examination of the bank, in which regulators found problems with Deutsche's financial records. Those problems led to an "overstated capitalization and inadequate customer reserves" FINRA said.