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Deutsche Bank Is Fined $500,000 by SEC Over Hedge Fund Disclosures

  • Bank will pay $500,000 over misleading disclosures, SEC says
  • Bank didn’t reveal it only evaluated funds that shared fees
Updated on

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.