The Japan Securities Dealers Association ordered SMBC Nikko Securities, a major securities company, to pay an administrative penalty of 300 million yen, the largest number ever, as a penalty for negligence. rice field.
SMBC Nikko Securities was ordered to suspend some operations for three months by the Financial Services Agency in October last year over market manipulation cases. A judgment of more than 4.4 billion yen was handed down.
Regarding this, the Japan Securities Dealers Association had an insufficient review system to prevent unfair transactions and a management system to ensure thorough legal compliance, and the operation of business conducted in cooperation with banks was also inappropriate. As such, on the 15th, the company was ordered to pay 300 million yen as the amount of fines for negligence, which was the most common case ever.
The Japan Securities Dealers Association is asking the company to submit a report that includes measures to prevent recurrence.
Regarding the disposal, SMBC Nikko Securities commented, "We will steadily implement measures to prevent recurrence and strive to restore trust."