Fired Nomura Trader Turns to ‘Toilet Graffiti' to Argue His Case
Nomura Holdings Inc. had fired the former managing director in September 2024 after regulators determined that he engaged in spoofing three years earlier, placing large orders in the futures market for Japanese government bonds only to quickly cancel them. The brokerage had admitted to market manipulation and paid a ¥21.8 million ($150,000) fine. The company also lost its special entitlements as a primary dealer at government debt auctions for about a month last year.
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