Japanese financial services provider Nomura Holdings, Inc. (NMR) on Friday said it regrets that its employees were found to leak non-public information in some insider trading cases announced by Japan's Securities and Exchange Surveillance Commission.
"Nomura expresses its regret concerning the findings that non-public information was received from Nomura employees in such cases and we sincerely apologize for the trouble this has caused," the company said in its statement.
Japan's Securities regular today recommended that the Prime Minister and the Commissioner of the Financial Services Agency order an administrative monetary penalty against U.S.-based First New York Securities LLC. This is based on a finding that the firm had engaged in insider trading in connection with an equity offering by Tokyo Electric Power Co. in September 2010. Nomura was the underwriter on that offering.
In a separate case, a Third Party Committee established by Sumitomo Mitsui Trust Holdings, Inc. today released a report on insider trading conducted by the former Chuo Mitsui Asset Trust and Banking Co., Limited.
Nomura said it will continue to cooperate fully in the ongoing inspection by the Commission. An extensive internal investigation by a group of outside attorneys is also being conducted in light of the Commission's findings of involvement by Nomura employees, the company noted.
Nomura expects the findings of the internal investigation to be announced by the end of June.
"Nomura takes this matter seriously and will implement improvement measures and disciplinary action in accordance with the results of the internal investigation and the Commission's inspection," the company said.
In Japan, Nomura shares closed today's trading at 268 yen, down 6 yen or 2.19 percent.
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