Japan watchdog to seek punishment for Chiba Bank for high-risk bond sales -Nikkei (updated)
08/06/2023 15:00
(Adds details)
TOKYO, June 8 (Reuters) - Japan's securities watchdog is
set to advise that the Financial Services Agency impose an
administrative punishment on Chiba Bank 8331.T and its
securities subsidiary over sales of high-risk structured bonds,
the Nikkei business daily said on Thursday.
The Financial Services Agency (FSA) will consider such steps
as issuing a business improvement order for selling the
high-risk bonds to those who have no experience in purchasing
such financial products without enough explanation, the Nikkei
said.
No one was available for comment at the watchdog Securities
and Exchange Surveillance Commission, the FSA or the regional
bank headquartered near Tokyo.
(Reporting by Kiyoshi Takenaka; Editing by Hugh Lawson)
((kiyoshi.takenaka@thomsonreuters.com; +81 3 4563 2788;))