P.M. BRIEFING : Japan Punishes 4 Brokerages
Japan’s Ministry of Finance today slapped the wrists of four brokerages for their involvement in a stock manipulation case. A ministry official said the brokerages have been ordered to suspend operations at certain branches for periods of one or two days.
The two-day suspensions, effective Monday and Tuesday, affect Daiwa Securities’ Hibiya branch in Tokyo, National Securities’s Toranomon branch in Tokyo and Ace Securities’ Yokohama branch, he said.
Citicorp Scrimgeour Vickers International was ordered to suspend business at its Tokyo branch for one day on Sept. 3.