(June 30 – 11:45 ET) – Japanese regulators are nailing Merrill Lynch & Co. Inc. with a week’s suspension, The Financial Times is reporting
The Financial Supervisory Agency on ordered Merrill Lynch’s Tokyo branch to suspend some of its operations between July 10 and July 14 as punishment for unapproved transactions.
Earlier this month the FSA slapped the Tokyo branch of TD Securities Inc. with a week’s suspension, too. Yesterday the FSA hit Garban International, the world’s largest derivatives and money broker, with a week’s suspension. Garban was also banned from Japanese bond auctions.
Merrill was also turfed from executing foreign exchange intervention orders after it was reported that Merrill leaked information about the Bank of Japan’s trading. Neither Merrill Lynch nor the Ministry of Finance confirmed these reports.