Japan’s financial watchdog has recommended a fine of ¥21.76 million for Nomura Securities Co. The firm is accused of manipulating the government bond futures market, violating the Financial Instruments and Exchange Law. The recommendation was made by the Securities and Exchange Surveillance Commission to the Financial Services Agency. It is alleged that a manager in Nomura’s Global Markets division engaged in fraudulent activity by causing prices to fluctuate in order to profit from large orders for long-term government bond futures trading, which were later canceled without any intention of buying or selling.
Japan’s watchdog seeks ¥21.76 million fine for Nomura Securities over suspected manipulation of government bond futures market
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