White Collar Crime
Japan Changing Corporate Rules
Posted Jul 19, 2007 11:40 AM CDT
By Debra Cassens Weiss
A two-year sentence for a Japanese fund manager who traded on inside information shows Japan’s growing resolve to police its markets.
Yoshiaki Murakami received a two-year prison sentence for buying shares in Nippon Broadcasting System Inc. based on knowledge a suitor planned to acquire the company, the Wall Street Journal (sub. req.) reports.
The newspaper reports that the sentence comes as Japan seeks to clarify rules for corporate acquisitions and governance.