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Japanese FSA asked to punish Deutsche

Chris Hamblin, Editor, London, 8 December 2015

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Japan's Securities and Exchange Surveillance Commission has asked the Financial Services Agency, the empire's all-in-one financial regulator, to take action against Deutsche Securities Inc.

The surveillance agency has discovered that a member of staff at the securities firm heard some inside information about the relative weakness of an unnamed company's stock and then disclosed that information to a score of sales people and even an investor, presumably of high net worth. Other staff shared it with two institutional investors which then traded on the information.

The firm has told Bloomberg, however, that far from being found out by means of surveillance it actually reported the matter to the regulators itself. The last time Deutsche Securities was in regulatory trouble was late 2013, when it remunerated pension fund managers too generously.

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