Reuters: Regulatory News: Japan watchdog seeks fine on First New York for insider trading

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Japan watchdog seeks fine on First New York for insider trading Jun 8th 2012, 07:17 TOKYO, June 8 | Fri Jun 8, 2012 3:17am EDT TOKYO, June 8 (Reuters) - Japan's securities regulator said on Friday it has recommended a fine by imposed on First New York Securities for insider trading in a public share offering by Tokyo Electric Power Co in 2010. The Securities and Exchange Surveillance Commission (SESC) has recommended First New York be slapped with a penalty of 14.68 million yen ($184,500). The penalty is the first against an overseas fund since the SESC launched a series of probes in 2010 to stamp out insider trading ahead of public share offerings.

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