JSDA Said to Probe Brokerages on Unsuitable Japanese Bond Sales
The Japan Securities Dealers Association is probing brokerages on inappropriate bond selling practices such as overstating to issuers how much demand there is for their debt, according to people familiar with the matter.
The securities industry group, which helps oversee the sector, sent questionnaires to nine major local and foreign brokerages that also asked whether they contacted investors about future bond offerings before official filings were submitted, said the people, who asked not to be identified because they were discussing private matters. Responses were due by the end of May.
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