TSE Orders Barclays Capital To File Business Improvement Plan -Kyodo
March 15 2012 - 9:41AM
Dow Jones News
The Tokyo Stock Exchange on Thursday directed Barclays Capital
Japan Ltd. to file a business improvement plan after the brokerage
was ordered by the Financial Services Agency last October to
suspend operations for nearly two weeks for a trading rules
violation, Kyodo News reported.
The Japan Securities Dealers Association also ordered the
Japanese arm of the U.K. brokerage house to pay a Y10 million fine.
Last October, the Osaka Securities Exchange ordered the brokerage
to pay a Y20 million penalty.
The FSA barred Barclays Capital from conducting any stock trades
for its U.K. parent last Oct. 11-24 as punishment for not reporting
its short sales to the Osaka Securities Exchange. The failure
occurred because of a design error in connecting its server to the
bourse.
-Dow Jones Newswires; 212-416-2900
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