TOKYO -- A Japanese court has imposed the largest-ever financial penalty on SMBC Nikko Securities for systemic stock price manipulation, reflecting a harsh view of the scandal that has raised doubts about market integrity.
Markets
SMBC Nikko faces heavy price for betraying market trust
Japanese brokerage ordered to pay a total of $38m for price manipulation
SMBC Nikko was ordered to pay a fine of 700 million yen ($5.3 million) and a forfeiture of 4.47 billion yen for illegally propping up prices of certain stock issues.
Read Next
Latest on Markets
