SEC charges Deutsche Bank subsidiary to pay US$4m for failing to file certain suspicious activity reports on time

Deutsche Bank Securities has been fined US $4 million for failing to file suspicious activity reports on time between April 2019 and March 2024 despite receiving requests linked to law enforcement investigations. The SEC found the company took more than two years in some cases to file SARs undermining their usefulness. The bank has agreed to a censure a cease-and-desist order, and the penalty without admitting…