December 12, 2013 / 7:30 AM / in 4 years

Japan regulator orders Deutsche Sec to bolster compliance

TOKYO, Dec 12 (Reuters) - Japan’s financial regulator ordered the Tokyo investment banking unit of Deutsche Bank to improve its business practices after it was found to have entertained pension fund officials in violation of financial laws.

The order by the Financial Services Agency (FSA) was widely expected after the securities regulator last week recommended that Deutsche Securities Inc be sanctioned for the entertainment involving officials at three pension funds.

The order requires Deutsche Securities to come up with measures to prevent a recurrence and to periodically report on its compliance to the regulator, according to a statement issued by the FSA on its website.

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