Japan's Financial Services Agency on Friday ordered SMBC Nikko Securities Inc. to suspend part of its operations for three months, urging the brokerage to improve compliance following a market manipulation scandal that led to the indictment of former executives. The financial watchdog also ordered parent Sumitomo Mitsui Financial Group Inc. to strengthen its supervision of the subsidiary. The moves come after the Securities and Exchange Surveillance Commission found illegal trading practices at the brokerage in its probe and recommended last month that the agency impose administrative punishme...
