Kentaro Okuda announced an immediate pay cut of 20% for himself and a portion of executives following an employee's involvement in bond market manipulation.
An employee at Nomura allegedly engaged in layering by placing misleading orders in Japan's bond market, resulting in unauthorized profits without intentions to execute trades.
A former Nomura employee has been arrested on serious charges, including robbery and attempted murder, unsettling both the firm and its stakeholders.
Japan's Financial Services Agency reported that the manipulation involved placing multiple sell orders to affect the bond market, demonstrating significant risks in trading practices.
#nomura-holdings #bond-market #executive-pay-cuts #criminal-activities #japans-financial-services-agency
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