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An employee of Deutsche Bank AG’s Japanese brokerage unit was arrested Thursday on suspicion of bribery as the securities watchdog recommended penalties against the firm for excessive entertainment spending.

Shigeru Echigo, a director of Deutsche Securities Inc.’s pension solution sales department, is suspected of entertaining a client at a Mitsui & Co. unit in exchange for purchases of investment products, a Tokyo police official said. A former Mitsui pension executive was also detained, the official said.

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