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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.
The firm received an additional penalty of some ¥4.4 billion, while a former executive officer was given a suspended prison sentence.
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…
News consumption in Japan is characterised by high-circulation print newspapers and five nationwide TV networks. The continued strength of traditional media has reduced the urgency of digital transformation but the pandemic has accelerated change.