Japan’s Financial Services Agency has reportedly accepted the recommendation of the country’s Securities and Exchange Surveillance Commission to fine a former employee of Goldman Sachs Japan Co. Y230,000 for insider trading. On December 12, SESC made the recommendation which relates to a tender offer for REX Holdings Inc. in 2006. The SESC said the employee bought shares of now-delisted REX Holdings, which the person audited, before the news became public.
Nikkei reports that yesterday, the FSA announced that it had imposed a fine of 230,000 yen on the former employee of Goldman Sachs Japan Co. “for insider trading committed during his tenure with the financial institution.”
