Nikko apologises for ôanxiety and inconvenienceö
Japanese authorities recommend disciplinary action against Nikko Asset Management.
The Securities and Exchange Surveillance Commission SESC, JapanÆs securities watchdog, has recommended the Financial Services Agency take administrative disciplinary action against Nikko Asset Management for inappropriately handling purchase orders for an investment trust that left some customers at a disadvantage.
In a statement, Nikko AM says, ôAlthough Nikko Asset Management, as an investment trust management company, has made its best efforts to protect investors, it intends to take the recommendation with utmost seriousness, and will endeavour to ensure sound...
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