Charles Grom, a former managing director and equity research analyst at Deutsche Bank Securities Inc., agreed to settle charges brought by the Securities and Exchange Commission that, in 2012, he rated in a certification and promoted a company stock as a “buy” at the same time his personal view was that the stock rating should be downgraded. According to the SEC, this certification caused Mr. Grom to violate an SEC regulation that requires research analysts to certify research reports, attesting that all of the views expressed in a report accurately reflect the analyst’s personal views (click here to access SEC Rule 242.501). According to the SEC, on March 29, 2012, Mr. Grom issued a research report on Big Lots, Inc. where he recommended the company as a “buy.” On the prior day, Mr. Grom allegedly recommended selling the stock to four hedge funds because of his personal concerns about the company’s financial performance. According to the SEC, Mr. Grom rated the company as a “buy” to maintain a good relationship with the company’s management. Mr. Grom agreed to pay a fine of US $100,000 to resolve the SEC’s charges.