A court ordered SMBC Nikko Securities Inc. to pay a fine of 700 million yen ($5.3 million) and an additional penalty of around 4.47 billion yen for manipulating stock prices.
A Japanese court on Monday ordered SMBC Nikko Securities Inc to pay a fine of 700 million yen and a forfeiture of 4.47 billion yen for manipulating the market by illegally propping up certain stock prices to stabilize them. The Tokyo District Court also sentenced the major brokerage's former executive…