3.7800 0.00 (0.00%)
After hours: 4:17PM EDT
|Bid||3.7500 x 3200|
|Ask||3.7800 x 4000|
|Day's Range||3.7700 - 3.8200|
|52 Week Range||3.0500 - 5.0500|
|Beta (3Y Monthly)||1.25|
|PE Ratio (TTM)||13.70|
|Forward Dividend & Yield||0.06 (1.49%)|
|1y Target Est||3.87|
(Bloomberg) -- Nomura Holdings Inc. said it received a European Union antitrust complaint over its involvement in a suspected bond trading cartel in the EU, one of a slew of probes that have already seen banks fined billions of euros.Nomura and its international unit received a so-called statement of objections reflecting the European Commission’s “initial views around certain historical conduct," the bank said in a regulatory filing on Friday, without giving details of the probe. The bank declined to comment further on the investigation.Eight lenders were charged in January over suspected collusion in the trading of euro government bonds from 2007 to 2012, a timespan covering the European sovereign debt crisis that saw bond yields soar. The EU didn’t identify the companies concerned. Only UniCredit SpA acknowledged its involvement in the probe. Royal Bank of Scotland Group Plc is also one of the banks, a person said in February.While the EU’s powerful antitrust arm often lags far behind financial authorities in the U.S. and the U.K. in punishing collusion between traders, its fines can be hefty. Citigroup Inc., Royal Bank of Scotland Group Plc and JPMorgan Chase & Co. are among five banks that agreed in May to pay European Union fines totaling 1.07 billion euros ($1.2 billion) for colluding on foreign-exchange trading strategies.Several authorities are investigating Nomura and others over "government, supranational, sub-sovereign and agency debt securities trading," Nomura said in the filing. It is also fighting related U.S. and Canadian class actions lawsuits.The EU also stepped up a cartel probe into the trading of U.S. dollar supra-sovereign, sovereign and agency bonds in December. Deutsche Bank AG, Credit Suisse Group AG and Credit Agricole SA said they were among the four banks in the probe. Bank of America Corp. was identified as the fourth bank, two people said at the time. Nomura didn’t receive objections in that case, it said in December.The European Commission didn’t respond to a request for comment.\--With assistance from Donal Griffin.To contact the reporter on this story: Aoife White in Brussels at firstname.lastname@example.orgTo contact the editors responsible for this story: Anthony Aarons at email@example.com, Peter Chapman, Christopher ElserFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Nomura Holdings Inc will pay $26.5 million to settle U.S. Securities and Exchange Commission charges that it failed to properly supervise five former traders who lied to customers about mortgage bond prices. The accord relates to allegations that the traders misled customers about prices at which they bought bonds, understated the profit Nomura stood to make and sometimes pretended they were still negotiating to buy bonds that Nomura had already purchased. Without admitting wrongdoing, Nomura agreed to pay $1.5 million in civil fines and make $25 million of restitution to customers who bought and sold commercial and residential mortgage-backed securities from roughly 2010 to 2014.
Foreign firms are set to benefit as China plans to end all ownership limits within its financial sector a year earlier than previously stated.
Japan's Nomura Holdings Inc won shareholder approval on Monday for the re-appointment of its chief executive officer, overcoming concerns about the leaking of market information and its first annual loss in a decade. CEO Koji Nagai kept his job despite opposition from influential proxy advisory firm Institutional Shareholder Services Inc, which had recommended shareholders vote against his re-appointment. The vote was in effect an endorsement of Nagai's efforts to turn around the investment bank, which reported an annual loss in April and said it would not pay out bonuses to directors.
Japan's financial watchdog on Tuesday ordered Nomura Holdings to improve its business practices after the country's biggest brokerage admitted an employee had leaked market information. The Financial Services Agency said it had issued one of its "business improvement orders" against Nomura, a regulatory punishment that requires firms to submit a plan detailing how they will improve internal controls. Nomura on Friday confirmed that information related to listing and delisting criteria now under review by the Tokyo Stock Exchange had been handled improperly.
The chief executive of Nomura Holdings will take a 30% pay cut for three months over its improper handling of market information, marking the latest headache for CEO Koji Nagai, as he struggles to turn around the Japanese investment bank. The incident comes a month after Nomura reported its first annual loss in a decade and said it would not pay out bonuses to directors. Nagai, under pressure as Nomura wrestles with a restructuring plan that includes cutting $1 billion in costs from its wholesale business, told a news conference that he accepted responsibility for the information leak but would not step down.