More Corporate Criminals (collect ‘em all)
How many Japanese brokerages indulge in illegal practices? Ten percent? A quarter? Guess again, folks.
Illegal Practices Found at 60% of Japanese Brokerages: Sesc
Yahoo.com, via NikkeiJapan’s Securities and Exchange Surveillance Commission (SESC) has uncovered some form of illegal trading practice at 60 per cent of the brokerage houses operating in the country, SESC chief Takeo Takahashi said Wednesday.
“Creating a network of local offices with absolute power requires a great deal of manpower and funds. It is nearly impossible today to create such a structure,” he said.
So let’s get this straight; not only do more than half of the brokerages in the country operate with some degree of illegality, the chief of the regulatory body admits that it is practically impossible to address the problem. Wow.
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Posted to General Rants • 2002.06.28 (Fri) • 09:19
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