Compliance Radar
Who was sanctioned, and for what?
Fines, court rulings and incidents from Europe, North America, Latin America, Asia-Pacific, Middle East and Africa: 2,033 cases from 44 jurisdictions, each with an official source and checked against that source before publication. Filter by country, area of law and sector. Click a chart to drill down one level.
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Where?
by authority- Financial Services Agency (FSA, 金融庁) auf Empfehlung der Securities and Exchange Surveillance Commission (SESC, 証券取引等監視委員会) €131,155 100 % · 1 case
What for?
by action- Fine €131,155 100 % · 1 case
Who?
by sectorAll sectors
When?
per quarter, by date of decision| Period | Cases | Total |
|---|---|---|
| Q4 2023 | 0 | – |
| Q1 2024 | 0 | – |
| Q2 2024 | 0 | – |
| Q3 2024 | 0 | – |
| Q4 2024 | 1 | €131,155 |
| Q1 2025 | 0 | – |
| Q2 2025 | 0 | – |
| Q3 2025 | 0 | – |
| Q4 2025 | 0 | – |
| Q1 2026 | 0 | – |
| Q2 2026 | 0 | – |
| Q3 2026 | 0 | – |
| Q4 2026 | 0 | – |
1 case
30 Oct 2024 野村證券株式会社 (Nomura Securities Co., Ltd.)Nomura Securities: 21.76 million JPY for layering in Japanese government bond futures €131,155
A person engaged in the firm’s proprietary trading had, on 9 March 2021, repeatedly placed several layered orders in the order book for the long-term JGB future (March 2021 contract) on the Osaka Exchange to create a false impression of active trading, and then bought lower or sold higher. After administrative proceedings were opened, Nomura admitted the facts and the amount; an administrative monetary penalty (kachōkin) of 21,760,000 JPY was imposed, made up of 6,940,000 JPY for the matched volume and 14,820,000 JPY for the excess purchases.
Trade surveillance must detect layering patterns in proprietary trading, including in bond futures and not only in equities.
Spoofing and layering in proprietary trading
- Authority / court
- Financial Services Agency (FSA, 金融庁) auf Empfehlung der Securities and Exchange Surveillance Commission (SESC, 証券取引等監視委員会)
- Area of law
- Capital markets and financial supervision · Market abuse and insider dealing
- Legal basis
- Financial Instruments and Exchange Act (FIEA, 金融商品取引法) Art. 174-2 Abs. 1 und 8, Art. 159 Abs. 2 Nr. 1; FIEA Enforcement Order Art. 33-13 Nr. 2; Art. 185-7 Abs. 1
- Action
- Fine
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Employees
- 10,000 or more
- Published
- 31 Oct 2024
Original amount 21,760,000 JPY, converted at the ECB reference rate of 30 Oct 2024.
- 金融庁 – 長期国債先物に係る相場操縦に対する課徴金納付命令の決定について（令和６年10月31日） Press release of an authority
- 金融庁 – 決定要旨 令和６年度（判）第19号 (Entscheidung vom 30.10.2024) Decision of an authority
- SESC – 野村證券株式会社による長期国債先物に係る相場操縦に対する課徴金納付命令の勧告について（令和６年９月25日） Press release of an authority
Checked against the official source on 4 Oct 2026 · Direct link