SMBC Nikko market manipulation does not warrant prosecution

Context of criminal intent and market practice should not be ignored

Avatar
20220310 SMBC Nikko Securities logo.jpg

The logo of SMBC Nikko Securities outside its head office in Tokyo, pictured on Mar. 4: how to regulate block trades involves complex issues. (Photo by Koji Uema)

Stephen Givens is a corporate lawyer based in Tokyo.

Just one day after being rebuked by the Tokyo District Court for overreach in the Greg Kelly case, Japanese prosecutors doubled down against white collar defendants whose benign motives and objectives should not warrant criminal sanctions.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.