Six brokerages, including the Japanese unit of Switzerland's UBS group, have agreed to relinquish the 16.8 billion yen windfall from the settlement of Mizuho Securities Co.'s erroneous sell order for J-Com Co. shares, industry sources said Wednesday.
The move comes after financial services minister Kaoru Yosano and other politicians criticized several securities houses Tuesday for taking advantage of Mizuho's blunder.
The profits from the six brokerages probably will be placed in a fund to be used for such activities as research and promotions related to the securities industry, the sources said without elaborating.
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