SYDNEY, March 30 (AsiaPulse) - Financial firm Nomura
Australia has been fined $A30,000 (US$31,069) for trades it
made that improperly affected the price of shares in miner and
aluminium refiner, Alumina.
The Australian Securities and Investments Commission (ASIC)
issued Nomura with an infringement notice after a Nomura trader
accidentally made two trades of one million shares each on
March 18, instead of just one trade of one million shares, ASIC
The trades contributed to a 22 cent, or nine per cent, fall
in Alumina's share price.
The incident breached the Corporations Act as it resulted in
the market for Alumina shares not being fair and orderly, ASIC