Osaka Exchange fines Nomura Securities 60 million yen and suspends trading over improper government bond futures transactions.
Osaka Exchange fines Nomura Securities 60 million yen and suspends trading over improper government bond futures transactions.
Osaka Exchange fines Nomura Securities 60 million yen following an investigation into improper transactions involving Japanese government bond futures in March 2021. The penalty is part of a series of regulatory actions against the securities firm for its role in the violations.
In addition to the monetary fine, the OSE announced that Nomura Securities will face a suspension of its proprietary trading in government bond futures and options for three days, from December 25 to December 27, 2024. This suspension will impact the company’s government bond futures market activities.
The Tokyo Stock Exchange, Inc. also issued a formal reprimand to Nomura Securities in connection with the duplicate transactions, further compounding the regulatory consequences faced by the firm. This development follows an administrative monetary penalty order issued earlier this year by Japan’s Financial Services Agency (FSA), which directed Nomura to pay a penalty related to its involvement in the March 2021 bond futures trading.
The FSA’s order, announced on October 30, 2024, emphasized the seriousness of the infractions. In response to these regulatory actions, Nomura Securities issued a statement expressing regret for the incident.
The company acknowledged the gravity of the situation and apologized to clients and all concerned parties. “We take this matter very seriously,” Nomura’s statement read. “We apologize to our clients and all other concerned parties for the trouble this has caused.” The firm also committed to enhancing its internal controls and compliance framework to prevent similar incidents in the future.
“By fully implementing the measures announced on October 31, 2024, we will work to regain trust and ensure that this type of situation does not occur again,” Nomura said. This fine and the suspension of trading serve as a reminder of the strict regulatory environment in Japan’s financial markets, particularly regarding government bond transactions.
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