Scandal-tainted Nikko Cordial Corp. announced on Tuesday measures to boost the group's internal controls to prevent accounting irregularities, including creation of a new section to prevent fraudulent deals involving affiliated companies.
The new section, to be called the "group risk management office," will have a staff of 10 employees to check transactions already approved by management.
Nikko Cordial, the nation's third-largest brokerage, will also set up an "internal controls office" to monitor ongoing projects involving the affiliates.