Tokyo prosecutors arrested four high-ranking officials of SMBC Nikko Securities Inc., including two executive officers, on suspicion of market manipulation in breach of the Financial Instruments and Exchange Law.
Alleged stock manipulation at SMBC Nikko Securities Inc involved several sections, raising a possibility the misconduct had been organizational, investigative sources said Saturday, after four of the company's employees were arrested. The four employees, including the head of the company's equity department, are suspected of trying to prevent a decline…
The four employees are suspected of trying to prevent a decrease in share prices for five individual stocks on the First Section of the Tokyo Stock Exchange.
Tokyo prosecutors on Friday arrested four employees of SMBC Nikko Securities Inc in connection with alleged stock manipulation and searched the Tokyo headquarters of the major Japanese brokerage. The four employees, including Trevor Hill, the 51-year-old head of the company's equity department, are suspected of trying to prevent a decrease…