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Report: Deutsche Bank managers turned blind eye to bribing culture in Japan

Jun 18, 2014 - SNL European Financials Daily

An internal report by Japan's Securities and Exchange Surveillance Commission illustrates the extent to which higher management at Deutsche Bank AG's Tokyo-based Deutsche Securities Inc. was involved in the practice of spending on entertaining pension fund officials to potentially win business from them, Reuters reported June 16.

Norimichi Kanari, chairman of the unit, not only failed to report his own involvement in pension fund entertainment but maintained that he was not aware of the pr...