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Deutsche Bank Is Fined $500,000 By Sec Over Hedge Fund Disclosure

by bloomberg.com posted 3months ago 46 views
Deutsche Bank AG said it relied on a rigorous vetting process in selecting hedge fund investments for its wealth-management clients. It turns out, the only funds Deutsche Bank evaluated were those that agreed to share money with the German lender. The allegation was laid out in a Thursday order from the Securities and Exchange Commission, which fined a U.S. unit of Deutsche Bank $500,000. From 2009 through mid-2018, Deutsche Bank Trust Company Americas told investors in marketing materials that it had an in-house research group that used a multistep due diligence process.

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