Cantor Fitzgerald Shoken Kaisha, Tokyo Branch, has been
slapped with an administrative punishment by Japan's regulator,
Financial Services Agency.
FSA's inspection unit, Securities and Exchange Surveillance
Commission, said Cantor violated securities law when, in 2002
and 2003, the firm executed "many sale or purchase orders of
securities which [it] had received from [its] customers as a
broker, by acting as a broker and at the same time as a
principal to such sales or purchases for many times."
Cantor has been instructed to strengthen its internal control
systems to prevent recurrence of such violations.
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