Tokyo exchange employee under probe for alleged insider trading, Nikkei reports (updated)

Japan Exchange

22/10/2024 20:53

(Adds further details from paragraph 2 onwards)
       Oct 23 (Reuters) - 
    A Tokyo Stock Exchange employee is currently under
investigation by the country's financial watchdog for suspected
insider trading, the Nikkei reported on Wednesday, citing
sources.
  
        The Securities and Exchange Surveillance Commission is
investigating the employee, who allegedly bought and sold stocks
based on undisclosed corporate information, according to Nikkei
sources.
  
        The probe began around September.
  
        According to the report, both the watchdog and Japan
Exchange Regulation, which oversees certain operations for the
TSE under the Japan Exchange Group  8697.T , were aware of the
transactions. The Japan Exchange Group is the holding company
for the TSE.
  
        Insider trading violates Japan's Financial Instruments
and Exchange Act. Offenders face up to five years in prison, a
fine of up to 5 million yen ($33,097), or both.
  
        The Japan Exchange Group could not immediately be
reached for a request for a comment. 
  


($1 = 151.0700 yen)

 (Reporting by Sneha Kumar; Editing by Tasim Zahid)
 ((Sneha.Kumar@thomsonreuters.com;))