Saturday June 30, 2012
Nomura halves CEO pay to close probe
TOKYO: Nomura Holdings has admitted to widespread failures in protecting confidential client information and will slash pay for top executives and shut down an equity sales operation for a week as Japan's largest brokerage tries to resolve a damaging insider trading probe.
Nomura said chief executive officer Kenichi Watanabe's pay would be halved for six months to take responsibility for the brokerage's third insider trading scandal since he took the helm four years ago. - Reuters