The Japan Securities and Exchange Surveillance Commission recommends imposing insider trading fines on a former Goldman Sachs employee.

The Japan Securities and Exchange Surveillance Commission has recommended imposing an administrative fine on a former employee of a subsidiary of Goldman Sachs. The individual obtained important non-public information regarding a tender offer for Nippo Corp. in 2021 and traded the company's stocks through a securities account opened in the name of a relative. The recommended fine amount is approximately 19 million yen. A spokesperson for Goldman Sachs stated that if the allegations are true, it would constitute serious misconduct, and the company condemns such behavior. The company is fully cooperating with the investigation by the Japan Securities and Exchange Surveillance Commission.