Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.
BREAKING NEWS

Japan financial watchdog mulls fine for Nissan over Ghosn pay issue

Japan financial watchdog mulls fine for Nissan over Ghosn pay issue
FILE PHOTO: Former Nissan Motor Chariman Carlos Ghosn leaves the Tokyo Detention House in Tokyo, Japan April 25, 2019. REUTERS/Issei Kato -
Copyright
ISSEI KATO(Reuters)
Euronews logo
Text size Aa Aa

TOKYO (Reuters) – Japan’s markets watchdog will likely recommend that the financial regulator fine Nissan Motor Co up to 4 billion yen (29.4 million pounds) over the alleged underreporting of former Chairman Carlos Ghosn’s compensation, a source said.

The Securities and Exchange Surveillance Commission (SESC) will likely recommend the fine on the basis that Ghosn’s alleged underreported salary had a “significant” impact on investor decisions regarding the company, the source said, declining to be identified.

A spokesman for the SESC declined to comment on specific cases, while Nissan was not immediately available for comment.

The SESC is expected to formally start investigating the issue before the end of the month, when it examines Nissan’s latest annual filings, the source said.

If Nissan files documentation to the SESC before the formal investigation begins and recognises that previous reporting was incorrect, it may receive a reduced fine of around 2.4 billion yen, the source said.

(Reporting by Takahiko Wada; Writing by Naomi Tajitsu; Editing by David Dolan)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.