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Nomura Employees Who Leaked Insider Information to Leave

Jan. 10 (Bloomberg) -- Nomura Holdings Inc., Japan’s largest brokerage, said two employees who leaked client information used for insider trading three years ago will leave the firm.

Nomura penalized the employees, who gave confidential data on public share offerings to three asset management firms in 2010, Kenji Yamashita, a Tokyo-based company spokesman, said in a phone interview today.

Japan’s securities watchdog last month recommended fining the funds, including a unit of Nippon Life Insurance Co., for trading on the tips. Nomura said on Dec. 2 it will take “strict action” against the two workers.

“We are aware of our responsibility and will continue to make efforts to develop and support healthy financial markets,” Chief Executive Officer Koji Nagai said at the bank’s investor forum in Tokyo on Dec. 3.

Nagai replaced Kenichi Watanabe in August 2012 after the nation’s financial regulator found that Tokyo-based Nomura failed to prevent staff from leaking information about share sales it managed.

To contact the reporter on this story: Takahiko Hyuga in Tokyo at thyuga@bloomberg.net

To contact the editor responsible for this story: Chitra Somayaji at csomayaji@bloomberg.net

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