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Jun 19, 2012

Insight: Nomura collides with Japan’s insider trading crackdown

TOKYO (Reuters) – Japanese regulators reached breaking point in March after months of stonewalling by the country’s largest broker, which they suspected of leaking confidential information to clients ahead of share sales.

A trail of evidence in a near 2-year probe into pre-sale tip-offs, the most extensive in Japan for years, had taken investigators deep inside Nomura Securities, part of the 87-year-old group (8604.T: Quote, Profile, Research, Stock Buzz) at the heart of Japan’s capital markets, but the firm’s top executives kept stalling, say people involved in the investigation.

Jun 19, 2012

Nomura collides with Japan’s insider trading crackdown

TOKYO, June 20 (Reuters) – Japanese regulators reached
breaking point in March after months of stonewalling by the
country’s largest broker, which they suspected of leaking
confidential information to clients ahead of share sales.

A trail of evidence in a near 2-year probe into pre-sale
tip-offs, the most extensive in Japan for years, had taken
investigators deep inside Nomura Securities, part of the
87-year-old group at the heart of Japan’s capital
markets, but the firm’s top executives kept stalling, say people
involved in the investigation.

Jun 18, 2012

Nomura excluded from $6 billion Japan Tobacco share sale

TOKYO (Reuters) – Japan has excluded Nomura Holdings (8604.T: Quote, Profile, Research, Stock Buzz) from working on the government’s sale of roughly $6 billion worth of Japan Tobacco (2914.T: Quote, Profile, Research, Stock Buzz) shares, in a blow to Japan’s largest broker as it grapples with an insider trading scandal.

The Ministry of Finance said in a statement on Monday it had chosen JPMorgan Chase & Co (JPM.N: Quote, Profile, Research, Stock Buzz), Daiwa Securities (8601.T: Quote, Profile, Research, Stock Buzz), Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) and Mizuho Securities as underwriters for the share sale by the world’s third-largest cigarette company.

Jun 11, 2012

Japan calls for tougher insider trading rules

TOKYO, June 11 (Reuters) – Japan’s securities watchdog
flexed its muscles by fining a foreign financial institution for
insider trading for the first time, but punishments overall
remain modest by global standards, sparking calls for tougher
laws to deter a practice that has gone unchecked for years.

Since March, the Securities and Exchange Surveillance
Commission (SESC) has sought fines against three investment
firms in a total of four cases brought so far in its probe into
insider trading ahead of public share offerings, a near endemic
problem in Japan.

Jun 8, 2012

First New York faces fine in Japan insider probe

TOKYO, June 8 (Reuters) – Japan’s securities regulator on
Friday recommended a fine of more than $180,000 against First
New York Securities for insider trading in a 2010 share offering
by Tokyo Electric Power Co, the first foreign firm to face such
a penalty in a widening probe.

The case is also the third linked to Nomura Holdings
, which was the sole underwriter on Tokyo Electric’s
$6 billion stock offering. As in two other cases, an
employee at Japan’s largest broker was the source of the leak.

Jun 8, 2012

First New York faces fine over Japan insider trading

TOKYO, June 8 (Reuters) – Japan’s securities regulator said
on Friday it had recommended a fine of more than $180,000
against First New York Securities for insider trading in a 2010
public share offering by Tokyo Electric Power Co.

The penalty proposed to the Financial Services Agency is the
first against an overseas fund since the Securities and Exchange
Surveillance Commission (SESC) launched a series of probes in
2010 to stamp out insider trading ahead of public share sales.

Jun 1, 2012

Nomura replaces sales head amid insider probe

TOKYO, June 1 (Reuters) – Nomura Holdings has
replaced the head of institutional sales at its core securities
unit, following an escalating investigation by regulators into
its suspected role in insider trading.

A source with knowledge of the matter said Kenichi Ishitomi
had been asked to relinquish his post to focus on cooperating
with the probe by the Securities and Exchange Surveillance
Commission (SESC).

May 28, 2012

Nomura insider probe spotlights common Japan practice

TOKYO, May 28 (Reuters) – The escalating probe into insider
trading at Nomura highlights one of the worst-kept secrets in
the Japan market: for years brokers have fed clients
confidential information on stock offerings with little fear of
a regulatory crackdown.

The spotlight is on Nomura after the emergence this weekend
of a second case in which sources say an employee at the broker
told a fund manager about a share offering before it was made
public, giving its client an unfair advantage to unload those
shares.

Apr 27, 2012

Nomura Q4 net jumps 86 pct, beats view on market boost

TOKYO, April 27 (Reuters) – Nomura Holdings posted
on Friday a better-than-expected 86 percent jump in
fourth-quarter profit on a pick-up in Japanese stocks and mutual
fund sales, while cost cuts and overseas deals lay the
foundation for an expected jump in profitability this year.

The second straight quarterly profit from Japan’s top
investment bank shows it has stabilised operations after a rocky
2011 when tough conditions prompted Nomura to launch a $1.2
billion cost-cutting plan and Moody’s to cut its credit rating
to one notch above junk.

Apr 26, 2012

Nomura to post Q4 profit, deals show headway overseas

TOKYO, April 27 (Reuters) – Nomura Holdings is
expected to post on Friday a second straight quarterly profit
and highlight a handful of overseas deals that signal progress
in its strategy to expand its business beyond the home market.

Japan’s top investment bank remains vulnerable to a further
pullback in the Nikkei stock average, which has slipped 5
percent since the start of April, and faces the risk of
sanctions in an ongoing insider-trading probe.