Deutsche Bank AG agreed to pay $15.3 million to settle charges of "yield burning" at a unit of Bankers Trust Corp., which it bought this year.

The Securities and Exchange Commission said Monday that Alex. Brown was charged with illegally marking up municipal bonds for resale to government entities. The SEC's settlement was one of seven actions the SEC brought against 10 individuals and companies for fraud and other securities violations in connection with two 1994 Pennsylvania refunding bond offerings.

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