The government wants the Nomura brokerage to clean its "wounds" and uphold higher ethical standards after it leaked information used for insider trading, the deputy head of the Financial Services Agency said.
"I urge Nomura's executives and employees to re-evaluate their professional ethics and identify the problems with their internal controls and business practices," Ikko Nakatsuka said Tuesday. "I want Nomura to drain the pus from its wounds."
The Securities and Exchange Surveillance Commission is continuing to inspect the nation's biggest brokerage after finding that Nomura employees gave tips to traders on share sales it managed. As part of its efforts to crack down on insider trading, the regulator this month asked Nomura Holdings Inc., Goldman Sachs Group Inc. and 10 other brokerages to review how they handle confidential information.