For the first time ever, the Japanese government has fined an established bank (Shuo Mitsui) for insider trading. How much was the fine for such an offence in Japan? 50,000 Yen, or about $600.
$600?! That amount is laughable when compared to American fines, sometimes exceeding $100 million.
Many are concerned that Japan is just not willing or able to regulate banks in this area, which could be worrisome. Still others believe that the expanding global market will eventually even itself out, and that such an event is really irrelevant.
Amy Collyer
That really does seem like a slap on the wrist! $600. I wonder if a lot of corruption and insider trading takes place in Japan, because of the lack of punishment? In the U.S., executives are sentenced to years in prison for insider trading. Maybe the Japanese culture is more trustworthy than the U.S., and they haven't had need for punishments with insider trading, but I kind of doubt it.
ReplyDeleteBen Rindlisbacher