Regarding the SMBC Nikko Securities market manipulation incident, the Financial Services Agency issued an administrative disposition, such as ordering the company to suspend the problematic business for three months.


With this disposition, the Financial Services Agency is requesting that management responsibility be clarified, and the focus will be on how the company will demonstrate management responsibility through internal dispositions.

On the 7th, the Financial Services Agency ordered SMBC Nikko Securities to suspend the business that became a problem in the market manipulation case for three months, and issued a business improvement order to strengthen the internal control system.



It also ordered its parent company, Sumitomo Mitsui Financial Group, to take necessary measures to improve the operations of its subsidiaries.



In this disposition, the Financial Services Agency is asking companies to clarify their management responsibilities along with reporting on business improvement plans.



At a press conference on the 7th, Finance Minister Suzuki said, ``We should take the matter seriously and independently consider specific measures to clarify management responsibility.''



The company plans to take disciplinary action against those involved in the company in the future. The focus will be on how effective recurrence prevention measures can be formulated and how the company will demonstrate management responsibility through internal disciplinary action.