Prosecutors plan to indict a former SMBC Nikko Securities Inc. deputy president on April 13 over alleged market manipulation at the major Japanese brokerage, sources familiar with the matter said.
<p><span>Enforcement directors of securities regulators from the International Organization of Securities Commission (IOSCO)’s Asia-Pacific Regional Committee (APRC) met in a virtual format on March 10th, 2022. The Securities and Exchange Surveillance Commission of Japan (SESC) chaired and organized the meeting.</span></p>
An indictment against SMBC Nikko Securities Inc. and the arrest of its deputy chief are likely just the start of the penalties the company will face for alleged market manipulation.