The Tokyo Stock Exchange has directed Barclays Capital Japan Ltd. to file a business improvement plan after the brokerage was ordered by the Financial Services Agency in October to suspend operations for nearly two weeks for a trading rules violation.
The Japan Securities Dealers Association also ordered the Japanese arm of the British brokerage to pay a ¥10 million fine. The Osaka Securities Exchange ordered the brokerage in October to pay a ¥20 million penalty.
The FSA barred Barclays Capital from conducting any stock trades for its British parent from Oct. 11 to 24 as punishment for not reporting its short sales to the OSE.
The failure occurred because of a design error in connecting its server to the bourse.