• Kyodo

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The brokerage industry watchdog was expected to recommend that the Financial Services Agency order a Nippon Life Insurance Co. subsidiary to pay a fine for insider trading on unreleased information, market sources said Monday.

The Securities and Exchange Surveillance Commission was expected to make the recommendation on the fine, estimated at hundreds of thousands of yen, Monday afternoon against Nissay Asset Management Corp., which was set up in Tokyo in 1995, the sources said.

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