Nomura gets Tokyo Stock Exchanges' biggest trading fine

Newly appointed Chief Executive of Nomura, Koji Nagai Koji Nagai was made the new chief executive after Kenichi Watanabe stepped down over the scandal

Related Stories

Japan's biggest brokerage, Nomura Holdings, has been fined 200m yen ($2.5m; £1.5m) by the Tokyo Stock Exchange for insider trading.

The fine is the largest meted out by the exchange.

Nomura has admitted that its staff leaked information about share sales to clients before it was made public.

The brokerage had previously been told to bolster internal controls by the Financial Services Agency.

Earlier this month, the Japan Securities Dealers Association fined Nomura 300m yen.

Nomura released a report in June that said the firm had "serious systemic defects that would erode confidence".

The company admitted its sales staff had tipped off clients and said the information was being shared between Nomura's investment banking arm and its sales teams, a practice that is not allowed in most financial institutions.

Chief Executive Kenichi Watanabe stepped down earlier this year after taking responsibility for the scandal.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Business stories

RSS

Features

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.