We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

SEC Grants Deutsche Bank WKSI Waiver After Guilty Plea

Law360, New York (May 4, 2015, 1:33 PM EDT) -- A divided U.S. Securities and Exchange Commission voted Friday to allow Deutsche Bank AG to keep its status as a well-known seasoned issuer, following last month’s $2.5 billion settlement in which a unit of the German lender also pled guilty to charges related to Libor manipulation.

Friday's decision lets Deutsche Bank and its subsidiaries to retain their privileges for automatic shelf registration of securities, allowing their registration statements and amendments to be automatically effective without waiting for staff review.

The commission's two Democratic members, Kara Stein and Luis Aguilar, voted against the relief. 

"It is unclear to me how this waiver...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!