Japan Nomura Clients Suspend Trading with Nomura for Manipulation of 10-Year Japan Government Bond (JCB) Futures, Japan Finance Ministry Plans to Suspend Nomura from Primary Group of Government Bond Dealers, Nomura Faces $150,000 Fine for Manipulation of 10-Year Japan Government Bond (JCB) Futures by Trader in 2021 March, Nomura Trader Placed Large Orders with No Intention to Buy or Sell, Nomura is Japan Largest Brokerage & Investment Bank
19th October 2024 | Hong Kong
Japan Nomura Holdings clients are suspending trading with Nomura for manipulation of 10-Year Japan Government Bond (JCB) Futures by a trader in 2021 March, with Japan Finance Ministry planning to suspend Nomura from the list of primary group of Japan government bond dealers. In 2024 September, Japan Nomura Holdings is facing $150,000 fine for manipulation of 10-Year Japan Government Bond (JCB) Futures by a trader in 2021 March, with the Nomura trader placing large orders with no intention to buy or sell. Nomura is Japan largest brokerage & investment bank. Japan Securities and Exchange Surveillance Commission (25/9/24): “The Securities and Exchange Surveillance Commission, today, made a recommendation to the Prime Minister and the Commissioner of the Financial Services Agency that an administrative monetary penalty payment order be issued in regard to market manipulation by Nomura Securities Co., Ltd. (Corporate Number: 6010001074037, “Nomura”) pursuant to Article 20(1) of the Act for Establishment of the Financial Services Agency. This recommendation is based on the findings of an investigation into market manipulation, whereby the following violation of laws and ordinances was identified … … Nomura is a broker-dealer that has been registered with the Commissioner of the Kanto Local Finance Bureau as a Type I Financial Instruments Business operator. Nomura, through its trader during the course of his duties, engaged in manipulative trading typically known as “layering” in 10-year Japanese Government Bond Futures in March 2021 (“JGB Futures”) listed on the Osaka Exchange (“OSE”) for the purpose of inducing others to buy or sell JGB Futures during the period from 8:45:49 a.m. to 2:16:59 p.m. on March 9, 2021. Specifically, Nomura bought a total of 462 units at a lower price while placing a total of 2,466 unit sell orders layered at the best offer or inferior prices, and it also sold a total of 462 units at a higher price while placing a total of 1,619 unit buy orders layered at the best bid or inferior prices. This constituted a series of derivative transactions that would potentially mislead others into believing that derivative transactions are thriving and cause fluctuations in prices of the financial instrument on the OSE. The act by Nomura was found to constitute “a series of purchase and sales of securities, etc.” and “make an offer” conducted “in violation of Article 159(2)(i)” as stipulated under Article 174-2(1) of the Financial Instruments and Exchange Act (“FIEA”). Pursuant to the FIEA, the amount of the administrative monetary penalty applicable to the above violation is a total of 21,760,000 yen.” Nomura (25/9/24): “Japan’s Securities and Exchange Surveillance Commission today issued a recommendation that the Prime Minister and the Commissioner of the Financial Services Agency impose an administrative monetary penalty against Nomura Securities for unlawful trading of Japanese government bond futures in March 2021. We take this matter very seriously and apologize to our clients and all other concerned parties for the trouble this has caused. We have been working to revise our JGB futures trading operations since these transactions occurred. We will continue to further enhance our compliance framework and internal controls to prevent similar incidents occurring in the future and to regain.”
“ Japan Nomura Clients Suspend Trading with Nomura for Manipulation of 10-Year Japan Government Bond (JCB) Futures, Japan Finance Ministry Plans to Suspend Nomura from Primary Group of Government Bond Dealers, Nomura Faces $150,000 Fine for Manipulation of 10-Year Japan Government Bond (JCB) Futures by Trader in 2021 March, Nomura Trader Placed Large Orders with No Intention to Buy or Sell, Nomura is Japan Largest Brokerage & Investment Bank “
Japan Nomura Faces $150,000 Fine for Manipulation of 10-Year Japan Government Bond (JCB) Futures by Trader in 2021 March, Nomura Trader Placed Large Orders with No Intention to Buy or Sell, Nomura is Japan Largest Brokerage & Investment Bank
26th September 2024 – Japan Nomura Holdings is facing $150,000 fine for manipulation of 10-Year Japan Government Bond (JCB) Futures by a trader in 2021 March, with the Nomura trader placing large orders with no intention to buy or sell. Nomura is Japan largest brokerage & investment bank. Japan Securities and Exchange Surveillance Commission (25/9/24): “The Securities and Exchange Surveillance Commission, today, made a recommendation to the Prime Minister and the Commissioner of the Financial Services Agency that an administrative monetary penalty payment order be issued in regard to market manipulation by Nomura Securities Co., Ltd. (Corporate Number: 6010001074037, “Nomura”) pursuant to Article 20(1) of the Act for Establishment of the Financial Services Agency. This recommendation is based on the findings of an investigation into market manipulation, whereby the following violation of laws and ordinances was identified … … Nomura is a broker-dealer that has been registered with the Commissioner of the Kanto Local Finance Bureau as a Type I Financial Instruments Business operator. Nomura, through its trader during the course of his duties, engaged in manipulative trading typically known as “layering” in 10-year Japanese Government Bond Futures in March 2021 (“JGB Futures”) listed on the Osaka Exchange (“OSE”) for the purpose of inducing others to buy or sell JGB Futures during the period from 8:45:49 a.m. to 2:16:59 p.m. on March 9, 2021. Specifically, Nomura bought a total of 462 units at a lower price while placing a total of 2,466 unit sell orders layered at the best offer or inferior prices, and it also sold a total of 462 units at a higher price while placing a total of 1,619 unit buy orders layered at the best bid or inferior prices. This constituted a series of derivative transactions that would potentially mislead others into believing that derivative transactions are thriving and cause fluctuations in prices of the financial instrument on the OSE. The act by Nomura was found to constitute “a series of purchase and sales of securities, etc.” and “make an offer” conducted “in violation of Article 159(2)(i)” as stipulated under Article 174-2(1) of the Financial Instruments and Exchange Act (“FIEA”). Pursuant to the FIEA, the amount of the administrative monetary penalty applicable to the above violation is a total of 21,760,000 yen.” Nomura (25/9/24): “Japan’s Securities and Exchange Surveillance Commission today issued a recommendation that the Prime Minister and the Commissioner of the Financial Services Agency impose an administrative monetary penalty against Nomura Securities for unlawful trading of Japanese government bond futures in March 2021. We take this matter very seriously and apologize to our clients and all other concerned parties for the trouble this has caused. We have been working to revise our JGB futures trading operations since these transactions occurred. We will continue to further enhance our compliance framework and internal controls to prevent similar incidents occurring in the future and to regain.”
Nomura is a global financial services group with an integrated network spanning approximately 30 countries and regions. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Wealth Management, Investment Management, and Wholesale (Global Markets and Investment Banking). Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership.
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