Tokyo Stock Exchange impose biggest ever fine

The Tokyo Stock Exchange has slapped a fine of 200m yen (€1.93m) against Nomura Securities as a penalty for an insider trading scandal in which top executives resigned at the Japanese brokerage.

The fine, imposed on Wednesday, was the highest ever by the exchange. It represents the latest action calling for better controls at Japan’s biggest brokerage.

Nomura chief executive Kenichi Watanabe resigned earlier this year to take responsibility for the scandal in which information was leaked ahead of securities offerings.

Nomura has acknowledged that some employees were involved and has promised to take steps to prevent recurrences, such as reviewing internal rules and practices.

Under Japanese law, leaking inside information is not penalised as heavily as profiting from insider trading, although some are advocating the law be revised.

  • Click to stay connected with more stories like this
  • Sign up here to receive news by email. Once per day, no spam.

Most Read in Business

  • Pic: Danielle Walquist Lynch / CC

    Penneys heads stateside

    Primark is opening stores in the north east of the USA.

  • Moyes 'given less time due to debt'

    Manchester United's mountainous debt pile and wage bill meant its owners could ill afford to give David Moyes the same amount of time to succeed as his predecessor Alex Ferguson, it was claimed today.

  • Netflix announces summer price rise as profits surge

    Netflix is preparing a sequel unlikely to be a hit with subscribers – the internet video service is about to raise its prices for the first time in three years to help pay for more programming such as its popular political drama House Of Cards.

  • GSK and Novartis agree tie-up deal

    GlaxoSmithKline and Swiss rival Novartis are to create a consumer healthcare powerhouse as part of a string of deals in the pharmaceuticals sector today.

  • Ryanair increases baggage allowance on flights

    Ryanair is to allow passengers bring a second small carry-on bag on board, in addition to a free 10kg cabin bag allowance from Sunday.

World Market

Currency Rates