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Nomura Fined 21 M. Yen for Alleged JGB Futures Manipulation

Nomura Fined 21 M. Yen for Alleged JGB Futures Manipulation

   Tokyo, Nov. 1 (Jiji Press)--Japan's Financial Services Agency has fined Nomura Securities Co. 21.76 million yen for manipulating the Japanese government bond futures market.
   The brokerage giant made profits by placing many orders without intending to actually trade, in violation of the financial instruments and exchange law.
   The Securities and Exchange Surveillance Commission advised the agency Sept. 25 to fine Nomura Securities.
   According to an announcement Thursday, the FSA said that a Nomura Securities trader manipulated long-term JGB futures prices on the Osaka Exchange on March 9, 2021, by placing numerous sell and buy orders.
   As punishment for the practice, the Finance Ministry has started a one-month suspension of the company's status as a JGB market special participant.

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AFP-JIJI PRESS NEWS JOURNAL


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