Deutsche Bank Securities, Inc. (CRD #2525, New York, New York) recently submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $65,000. Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that it submitted to NASD short interest position reports in NASDAQ securities that were incorrect, and submitted to the New York Stock Exchange (NYSE) a short interest position report in securities listed on the NYSE that was incorrect. The findings stated that the firm transmitted ROEs to OATS that OATS rejected for context or syntax errors and were repairable; but the firm failed to repair some of them, so they were not transmitted to OATS. The findings also stated that the firm transmitted reports to OATS that reported ROEs with a “Y” resubmission flag when no previous ROE had been submitted to OATS. The findings also included that the firm failed to timely file with NASD accurate Large Options Position Reports (LOPRs) covering numerous separate positions in conventional options. FINRA found that the firm failed to accept or decline in the NASD/NASDAQ Trade Reporting Facility (NNTRF) or the FINRA/NASDAQ Trade Reporting Facility (FNTRF) transactions in reportable securities within 20 minutes after execution that the firm had an obligation to accept or decline as the order entry firm (OEID).
This information which is publicly available on FINRA’s website has been provided by The White Law Group, LLC.
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