Nomura Engages in Attempted Murder

Nomura Engages in Attempted Murder

Nomura’s CEO was forced to apologize and take a pay cut after one of its employees was charged with attempted murder. The wealth manager tried to drug an old couple in Hiroshima. The investment bank has also taken steps to increase supervision of client visits and amend employee evaluations.

South Korean Regulator Pledges Support

Following the South Korean’s President’s failed attempt to introduce martial law, the country’s regulator has pledged to support markets. The stabilization fund will be triggered to support the currency and jump in if market participants are in trouble. Careful scrutiny of margin calls will be a key area of focus. The Kospi Stock index was down 1.4 per cent but the Won appreciated 1.2 per cent against the US dollar.

NatWest Plans for Full Privatization

NatWest CEO, Paul Thwaite, has stated that he hopes the bank will be back in full private hands in the next twelve months. The bank was bailed out at a cost of £46 billion to the UK taxpayer during the global financial crisis. The state has reduced its holing from 36 to 11 per cent in the last twelve months. Thwaite hopes to use the newfound freedom to invest in wealth management.

PCAOB Under Threat

The Public Company Accounting Oversight Board, created to oversee the US audit profession after the Enron debacle, is under threat. Current chair, Erica Williams, has made many enemies by increasing the level of fines and scrutiny for shoddy external audit work in the last four years. The FT speculates that Trump may seek to wrap the agency into the SEC.