The firm was found to have breached short-selling rules between April 2001 and February 2002 and also conducted derivatives transactions without Japan's Financial Services Agency's approval.
The Dresdner unit in Tokyo has been ordered to suspend stock trading on behalf of its affiliates from June 17th for 10 days. It has also been asked to refrain from undertaking derivative transactions for four days from the same date.
The sanctions were applied following a four-month investigation by Japanese regulators.
Dresdner is not the only bank to have suffered at the hands of the Japanese regulator recently. In February, penalties were imposed on Credit Lyonnias, Bear Stearns, Deutsche Securities and Nikko Salomon Smith Barney for violating short-selling regulations.
Dresdner Suspended
Reuters reports that Dresdner Bank's Tokyo securities operation, Dresdner Kleinwort Wasserstein (Japan) Ltd, has been ordered to temporarily suspend business by Japan's regulator as it found the unit guilty of breaching Japanese trading rules.
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