SMBC Nikko chief hit with pay cut
News On Japan via Japan Times -- Aug 08
SMBC Nikko Securities Inc. said Tuesday it will cut the executive compensation of President Eiji Watanabe by 30 percent for four months after a former corporate officer at the brokerage was indicted over an insider trading scandal.
Chairman Shigenobu Aikyo will be hit with the same pay cut, while three other executives will receive lesser pay cuts.
The former officer has been indicted for leaking unpublished information on stock tender offers between 2010 and 2011 and reaping trading gains in conspiracy with an acquaintance.
Source: Japan Times
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