Japanese Banking Minister Dies
Financial Services Minister Tadahiro Matsushita of Japan, who was at the helm of the insider trading crackdown that brought down Nomura Holdings' top to executives, has died. His death was ruled a suicide by police.
Insider Trading Scandal Fells Nomura Chief
Kenichi Watanabe stepped down as head of Japan’s top investment bank over an insider trading scandal as the bank's internal investigation found a "high possibility" that more cases would emerge.
AIJ Chief Denies Cheating, Admits Loss Cover-up
Speaking publicly for the first time since AIJ made headlines for losing client funds, the company president, Kazuhiko Asakawa, said that while he did cover up losses of $1.3 billion, he had never intended to cheat his customers and had been confident that the firm could recover the money.
Regulators Ask Singapore Authority for Help in Libor Probe
Interbank rates, including Libor, are under investigation by a number of countries amid suspicion of bank misconduct. The U.S. has launched a criminal investigation and European authorities are looking into allegations that banks may have colluded to trade derivatives based on the rate.
Japanese Regulators Broaden AIJ Investigation
Japanese regulators widened their investigation of AIJ Invesment Advisors Co. to Hong Kong as they considered extending the suspension of AIJ’s activities. At the same time, a client of the advisory firm said as its own shares tumbled that it will seek to recover its losses.
$2.6 Billion in Losses Prompts Closing of Japanese Advisory Firm
AIJ Investment Advisors was temporarily shut down by Japanese regulators on Friday over fears that it may have concealed substantial losses in the $2.6 billion it manages, mostly for the pension plans of small- and medium-size corporations.
Japanese Regulators Study Hedge Funds
Hedge fund interest in Japanese markets continues to increase, as does that of local regulators who want to know exactly what impact hedge funds are having on the investment landscape.
Cerberus, Quayle Work to Rehabilitate Japanese Ban
NEW YORK (HedgeWorld.com)--A company affiliated with distressed fund manager Cerberus Capital Management LP enlisted the help of former U.S. Vice President Dan Quayle in its...