Securities

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Bank Leumi charged with conducting unregistered cross-border U.S. business

Pointing Finger

The Securities and Exchange Commission has announced that Israeli-based Bank Leumi has agreed to pay $1.6m and admit wrongdoing to settle charges that it provided investment advice and induced securities transactions for U.S. customers for more than a decade without registering as an investment adviser or broker-dealer as required under U.S. securities laws.

Deutsche Bank said to probe securities marketing

Deutsche Bank - Foyer Bridge

Deutsche Bank officials are reviewing whether some employees exaggerated demand as they marketed new securities backed by risky auto loans, potentially suppressing yields for investors, according to a person with knowledge of the matter.

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