JAPAN

Stock Manipulation Fines to Be Raised: The Finance Ministry plans to sharply raise the fines for manipulating stock prices and compensating investment losses after a major financial market scandal last year, officials said. Brokerages that manipulate stock prices will be fined up to 300 million yen, or $2.4 million, up from 3 million yen now, the ministry said. The maximum fine for loss compensation will be raised to 100 million yen from 1 million yen. Companies that receive reimbursement for investment losses will face up to 50 million yen in fines, up from 500,000 yen. Last year, more than a dozen securities firms, including the “Big Four” brokerages, were found to have repaid major clients a total exceeding $1 billion for stock trading losses, outraging individual investors whose losses were not covered.