Arrow Artboard Created with Sketch. Artboard Created with Sketch. Title Chevron Title Chevron Icon Facebook Icon Linkedin Icon Mail Contact Path Layer Icon Mail Positive Arrow Icon Print Opinion SMBC Nikko case shows that Japanese rules are not made to be broken Local prosecutors have a tin ear for nuance and context
April 12, 2022 05:00 JST | Japan The sign of SMBC Nikko Securities outside its head office in Tokyo on March 24: The prohibition against market manipulation is not a one-size-fits-all rule. (Photo by Suzu Takahashi)
Stephen Givens is a corporate lawyer based in Tokyo.
In the U.S., the securities transactions at SMBC Nikko Securities that led to
criminal indictments of five employees for "market manipulation" would at most deserve modest administrative sanctions. Take your reading anywhere with offline reading functions Never miss a story with breaking news alerts Customize your reading experience
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