The Commodity Futures Trading Commission fined Deutsche Bank Securities Inc.—a registered futures commission merchant—US $3 million for violations of its requirements related to recordkeeping, investment of segregated customer funds, financial reporting and supervision from October 1, 2009, through March 14, 2013. According to the CFTC, between June 18 and August 15, 2012, DBSI failed to comply with newly adopted CFTC regulations that restricted the amount of customer funds it could invest in money market mutual funds. However, the CFTC noted that at all times DBSI maintained sufficient funds in segregation for its customers. In addition, the CFTC cited DBSI for inaccurately reporting its financial condition in various required financial reports filed with it between June 2011 and August 2012. During this time, claimed the CFTC, DBSI was “well aware” that its “ongoing problems with its [financial] reports were unacceptable to the Commission.” In response, the FCM retained an independent consultant to help it prepare its financial reports and “assured” the CFTC that the problems that caused its problematic reports would be fixed. However, the firm subsequently submitted three more financial reports to the CFTC that the Commission claimed had “unacceptable errors.” The CFTC also charged DBSI with failing to create and retain order tickets for various block trades it cleared for customers from October 1, 2009, through March 16, 2012. In February 2014, according to the CFTC, DBSI paid a fine of US $900,000 assessed by CME’s Clearing House Risk Committee “for financial reporting deficiencies related to the firm’s computation, recording, and reporting of segregated and secured customer fund balances.” In settling the CFTC’s complaint, DBSI did not admit or deny any of the Commission’s findings or conclusions. (Click here to access more information on DBSI's CME Clearing House Risk Committee fine.)