The bank failed to properly acknowledge the Equity Swap transactions between November 2007 and April 2013.
The Financial Conduct Authority, which issued the fine, said the failures affected all of the company’s equity swap CFD transaction reports in the period and breached its rules on transaction reporting.
The bank agreed to settle at an early stage of the investigation, and received a 30% reduction of their fine.
Director of enforcement and financial crime, Tracey McDermott, said effective market surveillance is “critical to maintain the integrity of our markets,” and is reliant on “accurate and timely” reporting of transactions.
“Deutsche is a major market participant, responsible for reporting millions of transactions every year,” she added. “We have repeatedly highlighted the importance of accurate transaction reporting and taken enforcement action against a number of firms.”
She said there was “simply no excuse” for the bank’s failure, adding that other firms should be in “no doubt” about its continued focus on the issue.
The FCA uses equity swap CFD transaction reports to identify and investigate suspected market abuse.
It has previously issued Deutsche with a private warning in relation to other similar transaction reporting failures.
In May, Hong Kong’s Securities and Futures Commission (SFC) reprimanded and fined Deutsche Bank HK$1.6m for regulatory breaches and internal control failings.
An SFC investigation into the bank found that it had failed to implement adequate internal controls to ensure its positions in listed companies were properly monitored and disclosed to the Stock Exchange of Hong Kong.
