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Japan calls for penalties on Deutsche Securities Tokyo branch
REUTERS
Tokyo, May 15: Japan's top securities watchdog on Monday called for penalties to be imposed on the Tokyo branch of Deutsche Securities, saying it had evidence the branch had sold products that helped companies hide their financial losses. The Securities and Exchange Surveillance Commission said it recommended the Financial Supervisory Agency (FSA) take administrative action against the branch of Deutsche Securities, an affiliate of Deutsche Bank Group. The FSA will likely order Deutsche Securities by the end of this month to suspend some business, such as bond trading, for several weeks and to improve its operations, industry sources said.Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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