The Securities and Exchange Surveillance Commission called on the finance minister March 20 to take administrative action against Nikko Securities Co. for allegedly violating the Securities and Exchange Law and a ministry ordinance.
The brokerage is suspected of channeling roughly 291 million yen in profits from securities transactions to Shokei Arai, a House of Representatives lawmaker who committed suicide last month only hours before he was to be arrested for allegedly demanding the preferential treatment.
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