Former Deutsche Bank analyst to pay $100k and suspended for a year

Former Deutsche Bank Securities analyst, Charles Grom, is to pay a $100,000 penalty and be suspended from the financial industry for a year as he issued a key stock rating that clashed with his personal forecasts, says the Securities and Exchange Commission (SEC). Grom has accepted the charges while neither admitting or denying the charges. 

The Securities and Exchange Commission said former Deutsche Bank research analyst Charles Grom issued a stock rating that was inconsistent with his personal view, a violation of SEC rules.

Grom will settle the case by paying a $100,000 penalty and will be suspended from the securities industry for one year. Grom neither admitted nor denied the SEC’s findings.