The Globe and Mail reports in its Thursday edition that Deutsche Bank will pay $9.5-million (U.S.) to settle Securities and Exchange Commission allegations that the bank failed to properly safeguard non-public information generated by its research analysts. A Bloomberg dispatch to The Globe says that one of the violations highlighted by the SEC was related to a high-profile case from earlier this year in which the agency accused a Deutsche Bank Securities analyst of maintaining a "buy" rating on Big Lots Inc. while advising clients privately to sell the stock. The bank also encouraged its analysts to communicate often with its trading desks and clients, and did not have policies and procedures in place to prevent disclosure of market-moving information. The company agreed to resolve the claims without admitting or denying the agency's findings. In February, the SEC fined Deutsche Bank analyst Charles Grom for recommending Big Lots to clients in 2012 while telling colleagues he did not downgrade the company because he wanted to maintain his relationship with its management. Mr. Grom, who no longer works for Deutsche Bank, agreed to a one-year industry ban and a $100,000 (U.S.) fine.