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Deep blue Group Madrid and Tokyo Bank Fraud Probe, Japan reg

(Reuters) - Japan's securities market watchdog is investigating whether Deutsche Bank AG (DBKGn.DE) employees provided excessive entertainment to Japanese pension fund executives in breach of regulations, sources with knowledge of the matter said.

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Deep blue Group Madrid and Tokyo Bank Fraud Probe, Japan reg

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  1. Deep blue Group Madrid and Tokyo Bank Fraud Probe, Japan regulator probing Deutsche Bank entertainment of pension clients: sources Source : http://www.reuters.com/article/2013/09/11/us-deutsche-japan-probe-idUSBRE98A0BJ20130911

  2. (Reuters) - Japan's securities market watchdog is investigating whether Deutsche Bank AG (DBKGn.DE) employees provided excessive entertainment to Japanese pension fund executives in breach of regulations, sources with knowledge of the matter said.

  3. The bank's efforts to address the problem could be a mitigating factor when the SESC makes a decision in coming weeks on what action to take. It is possible the regulator will not pursue public sanctions, which could range from an order to improve compliance to harsher penalties, the sources said.

  4. Given the risk of regulatory and criminal sanctions, companies should in principle never pick up the tab for a public official, said Tomoki Debari, a partner at Anderson Mori & Tomotsune and expert on Japan's anti-bribery laws. Debari was asked about the law in general terms without being aware of the names of the companies involved.

  5. It marked the first time the SESC had sought to punish a company for excessive entertainment. Based on that recommendation the Kanto Local Finance Bureau ordered KTOs to shut down for three months.In the KTOs case, the SESC invoked a provision in the financial instruments law that prohibits companies from providing "special benefits" to clients in connection with the forging of business contracts. The "special benefits" can include entertainment that is considered beyond social norms.

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