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Japan’s securities regulator will seek a fine on Nissan Motor Co. of more than ¥2 billion ($19 million) for allegedly underreporting the pay of the company’s former chairman, Carlos Ghosn, according to a person familiar with the matter.

The Securities and Exchange Surveillance Commission will start an investigation into the carmaker in July or August, the person said, asking not to be identified because the matter is private.

Depending on the outcome of that probe, the watchdog will recommend the Financial Services Agency impose a fine on Nissan, the person said.

Representatives for the SESC and Nissan declined to comment. The Asahi Shimbun daily first reported the fine being sought on June 26.

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