Japan securities watchdog seeks penalties against Deutsche Securities
Japan‘s securities watchdog recommended on Tuesday that Deutsche Bank‘s brokerage unit be punished after it provided information about a Japanese company to clients ahead of an earnings release.
The Securities and Exchange Surveillance Commission said Deutsche clients were encouraged to trade shares of the company after an analyst obtained information in December 2014 and passed it on to sales officials.
The watchdog did not identify the company.
The penalties will be decided by the Financial Services Agency in the coming weeks.
Deutsche said in a statement that it had identified and reported the issue to the watchdog. The unit has since implemented remedial measures and would continue to reinforce internal controls, it added.
Source: Reuters – Japan securities watchdog seeks penalties against Deutsche Securities
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