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作成日: 2022/10/11 06:51

更新日: 2025/12/09 12:53

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Japanese financial regulators have hit SMBC Nikko Securities with a partial business suspension order over the firm&#039;s manipulation of stocks.
                
The Financial Services Agency on Friday ordered the brokerage firm to suspend some stock-trading operations for three months. It also ordered SMBC Nikko Securities to improve the supervision and management of stock trading.
                
The agency took the action after an SMBC Nikko vice president, five senior employees, and the firm itself were indicted for illegally purchasing specific stocks in bulk in April 2021 to prevent the prices from falling.
                
Separately, the agency says it determined that the brokerage firm and its group unit, Sumitomo Mitsui Banking Corporation, shared information about corporate buyouts and other matters in breach of laws. The regulators issued a business improvement order over this practice.
                
In response to misconduct by the firms, the government agency also ordered their parent company, Sumitomo Mitsui Financial Group, to take the steps that are necessary to improve the operations of its group units.
                
This is said to be the first time that such a disciplinary order has been issued to a parent firm over illegal practices carried out by a subsidiary.
                
The agency has told the securities firm to clarify the management&#039;s responsibilities and submit a business improvement plan within one month.

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