Japan SESC Files Complaint against Judge for Insider Trading

Economy

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Tokyo, Dec. 23 (Jiji Press)--Japan's Securities and Exchange Surveillance Commission on Monday filed a criminal complaint with public prosecutors against a judge seconded to the Financial Services Agency for alleged insider trading.

Also on the day, the securities market watchdog filed a complaint against a former employee of the Tokyo Stock Exchange and his father for alleged insider trading.

The commission had launched investigations into both cases earlier this year.

The FSA said the judge, Soichiro Sato, 32, was dismissed Monday. Japan Exchange Group Inc., the TSE's parent, also dismissed the employee, Keito Hosomichi, 26, the same day.

According to the commission, Sato was in charge of screening documents for companies planning to launch tender offers at the FSA's Corporate Accounting and Disclosure Division.

[Copyright The Jiji Press, Ltd.]

Jiji Press