Japanese Insider Trading Crackdown Touches ‘Tip of the Iceberg’

Japanese Insider Trading Crackdown Touches ‘Tip of the Iceberg’

Kiyoshi Ota/Bloomberg

Kenichi Watanabe, chief executive officer of Nomura Holdings Inc., left, and Koji Nagai, president of Nomura Securities Co., bow in apology during a news conference at the company's headquarters in Tokyo. Nomura said in a June 29 statement that it had cut top executives’ pay, forced two managers to step down and suspended some operations following an internal probe into leaks ahead of 2010 equity offerings by Mizuho Financial Group Inc., Inpex Corp. and Tokyo Electric Power Co.