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FINRA fines Deutsche Bank $6 million for submitting inaccurate trade data

Jaclyn Jaeger | July 5, 2016

The Financial Industry Regulatory Authority has fined Deutsche Bank Securities $6 million for failing to provide complete and accurate trade data in an automated format in a timely manner when requested by FINRA and the SEC. As part of the settlement, Deutsche Bank has agreed to retain an independent consultant to improve its policies, systems and procedures related to blue sheet submissions.

FINRA and the SEC regularly request certain trade data, also known as “blue sheets,” to assist in the investigation of market manipulation and insider trading. Federal securities laws and FINRA rules require firms to provide this information to FINRA and other regulators electronically upon request.

Blue sheets provide regulators with critical detailed information about securities transactions, including the security, trade date, price, share...

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