Losses and lawsuits
Our monthly review of fraud management failure, human error and other operational hazards at financial firms around the world, distilled from the First database of operational risk loss events and case studies
Nikko Salomon charged with share price manipulation
In a people risk case, the Financial Services Agency (FSA) in Japan concluded in March 2003 that Nikko Salomon, a joint venture between USfinancial services firm Citigroup and Nikko Cordial Corp, a Tokyo-based securities firm, manipulated
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