The Hong Kong financial watchdog fined Japanese bank Nomura HK$4.5 million ($600,000, £384,000) for hiding a rogue trader. The trader, referred to as "Mr. X," falsified his positions to hide a HK$3.3 million ($425,000, £272,5000) loss on May 23 2013.The bank sent him back to Japan on June 5 and took a further six days to inform the Hong Kong Securities and Futures Commission, which hampered the regulator's investigation. It's not the first time Nomura has been in trouble for failing to police rogue traders.
by "Bussines insider"
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