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Markets

Market manipulation? SMBC Nikko probe hinges on intent

Brokerage and 6 ex-execs face lengthy courtroom battle

SMBC Nikko Securities is the first major brokerage in Japan to be charged with market manipulation. (Photo by Karina Nooka)

TOKYO -- Ten months after Japanese authorities first raided the headquarters of SMBC Nikko Securities, the company and six former executives have been indicted over allegations of market manipulation.

With the criminal investigation concluding, the focus shifts to whether prosecutors can prove that those involved had intentionally violated the law.

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