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Bloomberg

Japan Prosecutors to Seek Penalties for Ex-SMBC Nikko Executives

Japanese prosecutors are set to seek penalties against former executives at SMBC Nikko Securities Inc. accused of stock market manipulation, in a long-running case that's being closely watched by the expat financial community in Tokyo. Former head of equity Trevor Hill, his ex-deputy Alexandre Avakiants and three others are expected to hear the prosecution's requests in the Tokyo District Court on Thursday, roughly three years after they were indicted.