SESC Proposes $1.9m Fine for Morgan Stanley MUFG over Market Manipulation
Finance Magnates, 12 June 2016
Japan’s financial market watchdog, the Securities and Exchange Surveillance Commission (SESC), today recommended fining Morgan Stanley MUFG Securities for alleged market manipulation related to shares of railway operator, Seibu Holdings, according to a Reuters report.
SESC has recommended that the Financial Services Agency (FSA) imposes a penalty of ¥220 million ($1.9 million), as revealed in a statement posted on its website.
