Japan watchdog files new market manipulation charges against SMBC Nikko

TOKYO : Japan's Securities and Exchange Surveillance Commission on Tuesday filed new criminal charges with Tokyo prosecutors against SMBC Nikko Securities, a former executive and three of its employees over alleged market manipulation.

The watchdog alleges that SMBC Nikko, the brokerage unit of Sumitomo Mitsui Financial Group Inc, bought five individual stocks on the market to push up their prices so that block trade deals for those stocks would not fall through.The fresh charges come after the brokerage house and five of its former executives were indicted last month for similar alleged market manipulation of different stocks.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bayan Resources subsidiaries file lawsuit against Indonesia investment ministryJAKARTA : Five subsidiaries of coal miner PT Bayan Resources have filed a lawsuit against Indonesia's investment ministry over changes to their mining permits, the company said in a filing to the local exchange on Monday.Bayan said a decision by the ministry had resulted in reduction of mining area sizes
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »