South Korea gives Deutsche Bank's (DB) Seoul branch a slap on the wrist for "systematically...

|About: Deutsche Bank AG (DB)|By:, SA News Editor

South Korea gives Deutsche Bank's (DB) Seoul branch a slap on the wrist for "systematically violating" the country's capital market laws. In what "amounts to a first strike" for the Korean unit, the Financial Supervisory Service issued an "institutional warning" citing Deutsche Securities Korea's alleged role as an unlicensed intermediary for foreign debt issuance. Companies are allowed three such warnings before the government can "order a partial or full business suspension," WSJ notes.