SBI Securities receives administrative punishment, announces measures to prevent recurrence and reduction in remuneration for president and others. SBI Securities, a major online securities company, received an administrative penalty from the Financial Services Agency for accepting buy orders that it knew were intended to inflate the "initial price" after listing.
The company will no longer solicit pre-listing IPO stocks, and will establish an internal business improvement committee. President Masato Takamura's remunerations will be reduced by 30% for three months, as he has a heavy management responsibility.