Nomura Faces Fine for Alleged Bond Futures Manipulation in Japan

Japan`s securities watchdog is expected to recommend fining Nomura Holding`s brokerage unit for alleged market manipulation. The watchdog suspects a Nomura dealer of manipulating government bond futures prices in 2021 through "spoofing," placing and cancelling large orders without intending to trade. The recommendation will be made to the Financial Services Agency, which has the authority to issue penalties. The watchdog is targeting the company, not just the individual, due to the dealer`s managerial role.