Investigation on Nomura’s inside trading continues. CEO Kenichi Watanabe is not leaving the executive seat, but he faces serious challenges from the shareholders on the ethics of the firm. Nomura was accused of tipping off selected clients on the offerings of Tokyo Electric Power and Mizuho Financial Group. The CEO publically apologized for the scandal in a shareholders meeting in Tokyo, admitting the sales standard has been sliding.
Nomura is regarded as the top investment bank in Japan. It’s best known for having acquired Lehman Brothers in Europe and Asia in 2008.
For more news and updates, keep it right here at the Financial News Network. I’m Julia Sun.