In connection with the SMBC Nikko Securities market manipulation incident, the Securities and Exchange Surveillance Commission (SESC) has determined that illicit trading was conducted in order to maintain the stock price of a specific stock, and has recently decided to recommend administrative action to the Financial Services Agency. rice field.
Regarding this, the Financial Services Agency has begun coordination to order companies to suspend operations for a certain period of time and to issue a business improvement order to strengthen internal control systems.
At SMBC Nikko Securities, executives and corporations were indicted for market manipulation in violation of the Financial Instruments and Exchange Act, alleging that they engaged in illegal trading to avoid a decline in the stock price of a specific stock.
According to people involved, the Securities and Exchange Surveillance Commission, as a result of the inspection, recognized the series of transactions as fraudulent transactions prohibited by the Financial Instruments and Exchange Act, and will soon recommend that the Financial Services Agency take administrative action. I fixed my policy.
Regarding this, the Financial Services Agency will order the company to suspend business related to the transaction in question for a certain period of time next month as well as to issue a business improvement order to strengthen the internal control system. entered.
The Financial Services Agency (FSA) is considering the extent of its supervisory responsibility for its parent company, Sumitomo Mitsui Financial Group.
In addition, according to the person concerned, the inspection by the monitoring committee found that SMBC Nikko Securities had been sharing customer information with Sumitomo Mitsui Banking Corporation, a member of the same financial group, in violation of regulations. It seems that the attitude of compliance with laws and regulations will also be questioned.