Japan’s newly appointed Financial Services Minister Tadahiro Matsushita pledged to deepen his agency’s investigation into insider trading that has undermined confidence in the country’s financial markets.
Japanese Prime Minister Yoshihiko Noda reshuffled his Cabinet in an effort to win opposition backing for his bill to double the consumption tax, after his bid to heal a breach in the ruling party failed.
Nomura Holdings Inc., Japan’s biggest brokerage, fell in Tokyo trading following a report that the country’s financial watchdog will recommend a penalty for its role in cases of insider trading tied to share sales.
Japanese Financial Services Minister Shozaburo Jimi said companies in general should decide their executives’ pay, responding to a newspaper report that the government wants Shinsei Bank Ltd. to cap salaries.
Mizuho Financial Group Inc. ’s reported reshuffle of management and reorganization of its units following a computer systems glitch is “desirable,” said Japan’s Financial Services Minister Shozaburo Jimi .
Japan Financial Services Minister Shozaburo Jimi said he opposes a plan by Osaka prefecture to loosen regulations for consumer finance companies, arguing the same rules should be applied throughout the country.
Japan’s Financial Services Minister Shozaburo Jimi declined to comment on Olympus Corp.’s scandal over payments to acquisition advisers, adding that in general, if there are any rule breaches, necessary examinations will be carried out accordingly. He was speaking to reporters in Tokyo today.
Japan’s Financial Services Agency issued an order protecting the assets of MF Global Holdings Ltd.’s local operation and instructed the firm to improve its business, Financial Services Minister Shozaburo Jimi said.