Japan SESC to announce Deutsche Japan sanctions on Thursday-sources
TOKYO Dec 5 (Reuters) - Japan's securities watchdog will announce recommended sanctions against a Tokyo-based unit of Deutsche Bank for excessive entertainment of pension fund executives later on Thursday, sources with knowledge of the matter said.
The Securities Exchange and Surveillance Commission (SESC) plans to recommend that Deutsche's Japan operations be ordered to bolster compliance after finding that employees lavishly entertained pension fund clients in breach of regulations, the sources said.
The SESC makes the recommendation to the Financial Services Agency, which later carries out the punishment.
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