Nomura Faces Fine for Alleged Bond Futures Manipulation in Japan

Japan`s financial regulator is preparing to recommend a fine against Nomura Holdings Inc. for alleged manipulation of government bond futures. A manager in Nomura`s Global Markets division is suspected of placing large buy and sell orders in 2021 without intending to complete the transactions, thereby artificially influencing prices for profit. This practice, known as spoofing, has resulted in fines and penalties for other securities firms in the past. Nomura`s shares dipped following the report.