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The regulator on Friday said the proposed fine is for the alleged involvement of First New York Securities in an insider trading case in 2010 with Tokyo Electric Power Co. (TEPCO), Japan's largest utility and the operator of the ravaged Fukushima Daiichi nuclear power plant.

First New York Securities (FNYS) is the first foreign company to be charged with such a fine in the investigation, and it is also the largest fine the SESC has proposed. Until now, convictions for insider trading have been rare in Japan, while fines have been as low as $1,500.
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Osaka News.Net is a major resource for news about the city, and the nation.
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Osaka News.Net has been providing news on the city, and Japan, for well over a decade. Built in 1999, the site displays news as it happens locally and from around the nation together with world news, and business, and local Osaka weather. RSS feeds, links to local media, and news release functionality also feature.