The Japan Securities and Exchange Surveillance Commission recommends imposing an insider trading fine on a former Goldman Sachs employee

This individual obtained important non-public information in 2021 regarding a tender offer for Nippo Corp. and traded the company's stock through a securities account opened under the name of a relative. The proposed fine amounts to approximately 19 million yen. A spokesperson for Goldman Sachs stated that if the relevant allegations are true, this would constitute egregious misconduct, and the company condemns such behavior. The company is fully cooperating with the investigation by the Japan Securities and Exchange Surveillance Commission. (Bloomberg)