Reuters logo
Japan regulator probes asset manager over missing funds -source
April 26, 2013 / 1:35 AM / 5 years ago

Japan regulator probes asset manager over missing funds -source

TOKYO, April 26 (Reuters) - Japan’s securities regulator is investigating U.S.-based asset manager MRI International Inc on suspicion that it submitted false reports on its performance and that some of its client assets have disappeared, a source with knowledge of the probe said.

The Securities Exchange and Surveillance Commission will recommend penalties against MRI - which according to the company’s website had 136.5 billion yen ($1.4 billion) in client assets at the end of last year - as early as Friday, the source said.

No one at MRI could be reached for comment. At a press conference earlier on Friday, Japanese Finance Minister Taro Aso said he was aware of media reports about the MRI investigation but could not comment further.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below