Deutsche Bank fined by Hong Kong market regulator

HONG KONG Dec 16 (Reuters) - Hong Kong's market watchdog said Tuesday it had fined a local securities unit of Deutsche Bank (DBKGn.DE) HK$6 million ($769,230) and reprimanded the firm over activities on its facilitation trading desk.

The Securities and Futures Commission said that between May 2001 and September 2005, Deutsche Securities Asia Ltd had failed to "put in place an adequate system to identify and resolve potential conflicts of interest arising from commingled proprietary and client trades executed by the facilitation trading desk."

It said the firm had agreed to accept the reprimand and fine, and had taken steps to address the matter.

(US$=HK$7.8) (Reporting by Tony Munroe; Editing by Jonathan Hopfner)