The Japan Securities Dealers Association will ask all members to give up profits they earned on Tuesday's settlement of Mizuho Securities Co.'s erroneous Dec. 8 sell order for J-Com Co. shares, industry sources said Thursday.
JASDA is expected to put forward the unusual request at its next meeting on Dec. 20, concerned that the public image of the securities industry could deteriorate with the discovery that some brokerages took advantage of the error and raked in huge profits, the sources said.
Some brokerages, however, are reportedly reluctant to give up their profits, saying they could be sued by shareholders if they can't offer a sound reason for doing so.