Nomura denies report of probe into its India fixed-income business
Japanese investment bank Nomura Holdings on Monday denied a Bloomberg report claiming the firm was investigating its India fixed-income unit for allegedly inflating profits in recent years.
Bloomberg had reported that senior officials in Nomura’s rates division were being asked to review whether profits had been overstated, News.Az reports, citing Reuters.
But Nomura rejected the claims, telling: “We categorically deny that there is any investigation by compliance… Nor have any such issues been identified in routine reviews of the STRIPS business.”
STRIPS — a method allowing interest and principal on securities to be traded separately — has recently drawn scrutiny after India’s central bank permitted its use for state government bonds in June.
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