SEC Division of Corporation Finance no-action letter: Deutsche Bank AG

PAUL, WEISS, RIFKIND, WHARTON & GARRISON LLP
1285 AVENUE OF THE AMERICAS
NEW YORK, NEW YORK 100 19-6064
TELEPHONE (212)373-300 0
LLOYD K GARRISON (1946-1991 )
RANDOLPH E PAUL (1946-1956 )
SIMON H RIFKIND (1950-1995 )
LOUIS S WEISS (1927-1950 )
JOHN F WHARTON (1927-1977 )
WRITER'S DIRECT DIAL NUMBER
212-373-3124
WRITER S DIRECT FACSIMILE
212-492-0124
WRITER'S DIRECT E-MAIL ADDRESS dhuntington@paulweiss.com UNIT 360 1 , OFFICE! TOWER A, BEIJING FORTUNE PLAZA NO 7 DONGSANHUAN ZHONGLU CHAOYANG DISTRICT BEIJING 10002 0 PEOPLE'S REPUBLIC OF CHINA TELEPHONE (86-10) 5828-630 0 1 2TH FLOOR, HONG KONG CLUB BUILDING 3A CHATER ROAD, CENTRAL HONG KONG TELEPHONE (852) 2846-030 0 ALDER CASTLE 10 NOBLE STREET LONDON EC2V 7JU , U K TELEPHONE (44 20) 736 7 1 60 0 FUKOKU SEIMEI BUILDING 2-2 UCHISAIWAICHO 2-CHOME CHIYODA-KU TOKYO 1 OO-OO 1 1 , JAPAN TELEPHONE (81-3) 3597-810 ' TORONTO-DOMINION CENTRE 7 7 KING STREET WEST, SUITE 3 1 OO PO BOX 22 6 TORONTO, ONTARIO M5K 1J3 TELEPHONE (416) 504-052 0 200 1 K STREET, NW WASHINGTON, DC 20006- 1 04 7 TELEPHONE (202) 223-730 0 50 0 DELAWARE AVENUE, SUITE 20 0 POST OFFICE BOX 3 2 WILMINGTON, DE 1 9899-003 2 TELEPHONE (302) 655-441 0 April 23, 2015 MATTHEW W ABBOTT EDWARD T ACKERMAN ALLA N J ARFFA ROBERT A ATKINS DAVID J BAL L JOHN F BAUGHMAN LYNN B BAYARD DANIEL J SELLER CRAIG A BENSON MITCHELL L BERG MARK S BERGMAN BRUCE BIRENBOIM H CHRISTOPHER BOEHN1NG ANGELO BONVINO JAMES L BROCHIN RICHARD J BRONSTEIN DAVID W BROWN SUSANNA M BUERGEL PATRICKS CAMPBELL * JESSICA S CAREY JEANETTE K CHAN YVONNE Y F CHAN LEW'S R CLAYTON JAY COHEN KELLEY A CORNISH CHRISTOPHERJ CUMMINGS CHARLES E DAV'DOW DOUGLAS R DAVIS THOMAS V DE LA BASTIDE III ARIEL J DECKELBAUM ALICE BELISLE EATON ANDREW J EHRLICH GREGORY A EZRING LESLIE GORDON FAGEN MARC FALCONE ROSS A FIELDSTON ANDREW C FINCH BRAD J FINKELSTEIN BRIAN P F1NNEGAN ROBERTO FINZI PETER E FISCH ROBERTC FLEDER MARTIN FLUMENBAUM ANDREW J FOLEY HARRIS B FREIDUS MANUEL S FREY ANDREW L GAINES KENNETH A GALLO MICHAEL E GERTZMAN ADAM M GIVERTZ SALVATORE GOGLIORMELLA ROBERTO GOLDBAUM NEIL GOLDMAN CATHERINE L GOODALL ERIC GOODISON CHARLES H GOOGE, JR ANDREW G GORDON UDI GROFMAN NICHOLAS GROOMBRIDGE BRUCE A GUTENPLAN GAINES GWATHMEY, III ALA N S HALPERIN JUSTIN G HAMIL L CLAUDIA HAMMERMAN GERARD E HARPER BRIAN S HERMANN MICHELE HIRSHMAN MICHAEL S HONG DAVID S HUNTINGTON AMRAN HUSSEIN LOR ETTA A IPPOLITO BRIAN M JANSON JAREN JANGHORBANI NOT ADMITTED TO THE NEW YORK BAR MEREDITH J KANE ROBERTA A KAPLAN BRAD S KARP PATRICK N KARSNITZ JOHN C KENNEDY BRIAN KIM ALA N W KORNBERG DANIEL J KRAMER DAVID K LAKHDHIR STEPHEN P LAMB JOHN E LANGE DANIEL J LEFFEL L XIAOYU GREG LIU JEFFREY D MARELL MARCO V MASOTTI EDWIN S MAYNARD DAVID W MAYO ELIZABETH R MCCOLM MARK F MENDELSOHN WILLIA M B MICHAEL TOBY S MYERSON CATHERINE NYARADY JANE B O'BRIEN ALEX YOUNG K OH BRAD R OKUN KELLEY D PARKER MARC E PERLMUTTER VALERIE E RADWANER CARL L REISNER LORIN L REISNER WALTER G RICCIARDI WALTER R1EMAN RICHARD A ROSEN ANDREW N ROSENBERG JACQUELINE P RUBIN RAPHAEL M RUSSO ELIZABETH M SACKSTEDER JEFFREY D SAFERSTEIN JEFFREY B SAMUELS DALE M SARRO TERRY E SCHIMEK KENNETH M SCHNEIDER ROBERTS SCHUMER JOHN M SCOTT STEPHEN J SHIMSHAK DAVID R SICULAR MOSES SILVERMAN STEVEN SIMKIN JOSEPH J SIMONS AUDRA J SOLOWAY SCOTT M SONTAG TARUN M STEWART ERIC ALA N STONE AIDAN SYNNOTT ROBYN F
TARNOFSKY MONICA K THURMOND DANIEL J TOAL LIZA M VELAZQUEZ MARIA T VULLO ALEXANDRA M WALSH * LAWRENCE G WEE THEODORE V WELLS, JR BETH A WILKINSON STEVEN J WILLIAM S LAWRENCE I WITDORCHIC MARK B WLAZLO JULIA MASON WOOD JENNIFER H WU JORDAN E YARETT KAYE N YOSHINO TONG YU TRACEYA ZACCONE T ROBERT ZOCHOWSKI, JR FIRST CLASS MAIL AND EMAIL Mary J. Kosterlitz, Esq. Chief, Office of Enforcement Liaison Division of Corporation Finance Securities and Exchange Commission 100 F Street, N.E. Washington, DC 20549 Re: Deutsche Bank LIBOR Settlement - Waiver Request under Rule 405 Dear Ms. Kosterlitz:
We submit this letter on behalf of our client, Deutsche Bank Aktiengesellschaft ("Deutsche Bank AG"! in connection with a plea agreement (the "Plea Agreement") to be entered into by DB Group Services (UK) Ltd. (the "Settling Firm"), a subsidiary of Deutsche Bank AG, as described below. The Settling Firm is expected to enter a plea of guilty (the "Guilty Plea") on or about April 23, 2015 in the U.S. District Court for the District of Connecticut (the "District Court"). At a later time, the District Court is expected to enter a final judgment in relation to the conviction of the Settling Firm pursuant to the Plea Agreement (the "Judgment"). The terms of the Judgment will require remedies that are materially the same as those set forth in the Plea Agreement.