Insider trading clouds confidence in Japanese financial market

Mainichi Daily Monday 14th May, 2012

"The securities market is like a mirror. You can polish it, but never stain it." The president of Nomura Securities Co. said this about four years ago, after one of the firm's traders was caught insider trading. The incident was called an "individual crime," and the industry moved on. Fast forward to 2010, and foreign hedge funds connected to capital raised by Japanese firms were short-selling stocks, causing artificial price drops. Understandab...

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