May 28, 2019 / 8:07 AM / 6 months ago

Japan's financial watchdog orders Nomura to improve business after leak

TOKYO, May 28 (Reuters) - Japan’s financial watchdog on Tuesday ordered Nomura Holdings to improve its business practices after the brokerage admitted that an employee leaked market information.

The Financial Services Agency said it had issued one of its “business improvement orders” against Nomura. Japan’s top brokerage on Friday confirmed that information related to listing and delisting criteria now under review by the Tokyo Stock Exchange had been handled improperly. It has said that its chief executive would take a 30% pay cut for three months. (Reporting by Takahiko Wada; Writing by Junko Fujita; Editing by David Dolan)

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