Japan FSA to Order Biz Improvement to Nomura

Politics

Tokyo, May 23 (Jiji Press)--Japan's Financial Services Agency will order business improvement to Nomura Securities Co. and its parent, Nomura Holdings Inc. <8604>, over alleged information leaks, informed sources said Thursday.

The financial industry watchdog will strictly urge the brokerage group to take preventive measures after meting out a business improvement order to the group in 2012 for insider trading in stocks based on information leaked by group employees, the sources said.

In a statement released Thursday, Nomura Holdings said it recognizes improper handling of information at Nomura Securities. "We take this matter very seriously," the statement said.

The group has started probes involving outside experts. It will release a report on the findings and disclose preventive measures. Punishment of related officials will also be considered.

The leaked information is connected with a plan to realign the four sections of the Tokyo Stock Exchange into three.

[Copyright The Jiji Press, Ltd.]

Jiji Press