DrKW gets five-day OTC derivatives trading ban in Japan

Japan's financial market regulator, the Financial Services Agency (FSA), has suspended Dresdner Kleinwort Wasserstein (DrKW) from trading over-the-counter (OTC) derivatives for five days. This follows an inspection that resulted in claims the German bank had breached the country’s securities and exchange rules.

The investigation, which was conducted by the inspection bureau of the FSA between February and June this year, found DrKW had begun trading OTC derivatives in December 1998 while only receiving regulatory approval in August 1999. DrKW also started trading credit derivatives in May 1999, six months prior to receiving approval in November 1999, according to Atsushi Sasagawa, deputy director at the FSA in Tokyo.

During the period April 2001 to February 2002, DrKW had also placed a number of its

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