The Bankwatch

Tracking the consumer evolution of financial services

Insider trading case at Nomura Securities

In a story that has not hit the english press yet, there is an insider trading situation involving employees of Nomura Trading in Japan. it appears from what I can glean, to involve Argo 21, which has some involvement apparently with Canon.

Nomura were recently involved in purchasing assets of AIG.

Nomura Securities – insider trading

Courtesy Google Translate:
It is assumed that a certified public accountant in his/her thirties repeated an illegal stock trading based on information of the unmaking public on merger/acquisition (M&A) of the listed company that obtains it from the employee of The Nomura Securities of the bond biggest business. The Securities and Exchange Surveilance Commission recommended the Financial Services Agency to order the accountant the payment of the charges 2.58 million yen on the suspicion of the violation of Financial Instruments and Exchange Law (insider transaction) on the 22nd.

The employee in Nomura was accountant’s senior according to The Securities and Exchange Surveila at the junior high school and high school days, and it was on the register in “Corporate information part” that took charge of mediation and the advice of M&A. The Securities and Exchange Surveila recognized to the investigation of The Securities and Exchange Surveila from speaking etc. that the accountant had heard information from the employee the employee , saying that “Not leaked information” though it seemed to deny taking part that the obtaining informational destination was a Nomura employee.

On the other hand, the employee did not do to the disposal object as “It doesn’t meet the composition requirement for the insider transaction” because the stock trading was not done and he or she had not received remuneration from the accountant.

The accountant is a doubt of information on takeover bid (TOB) of the listed company that connects Nomura with mediation and the advice contract of M&A of buying 7800 stocks of five companies such as information system company “Argo 21” in the stocks total by the account of my name for 6,833,900 yen in total before hearing from others and information are made public from the employee by calling according to the examination of The Securities and Exchange Surveila in November four ? for 07 years. It is assumed that the profit of about two million yen was obtained by selling it off when stock prices rise after it makes it public.

インサイダー容疑の公認会計士、課徴金258万円勧告
Researched by Nobuyo Henderson

Written by Colin Henderson

May 22, 2009 at 18:32

Posted in Uncategorized

Tagged with ,

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