12:14 PM EST, 12/20/2024 (MT Newswires) -- Deutsche Bank's ( DB ) broker-dealer unit Deutsche Bank Securities was charged by the US Securities and Exchange Commission for failing to file certain suspicious activity reports, or SARs, on time, the regulator said Friday.

Under the Bank Secrecy Act, broker-dealers must file SARs for transactions they suspect involve illegal activity or have no lawful purpose. The SEC found that between April 2019 and March 2024, Deutsche Bank Securities failed to complete SAR investigations promptly, including delays of over two years in some cases, the regulator said.

Deutsche Bank Securities agreed to pay a $4 million civil penalty to settle the charges but did not admit or deny the agency's findings, the SEC said.

Deutsche Bank ( DB ) didn't immediately reply to MT Newswires' request for comment.

Price: 16.95, Change: -0.17, Percent Change: -0.99