Japan Watchdog Seeks ¥21.76 Mil. Fine For Nomura Securities;Manipulation of Govt Bond Futures Market Suspected
20:00 JST, September 25, 2024
Japan’s financial watchdog recommended Wednesday a ¥21.76 million fine for Nomura Securities Co. for allegedly manipulating the government bond futures market.
The Securities and Exchange Surveillance Commission made the recommendation to the Financial Services Agency, suspecting that the nation’s largest securities firm violated the Financial Instruments and Exchange Law.
According to the commission, a manager in the Global Markets division, which trades with the company’s funds, was suspected of fraudulently causing prices to fluctuate in 2021 to make a profit by placing large orders for long-term government bond futures trading without intending to buy or sell, and then canceling them.
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