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[TOKYO] Japan's market watchdog on Tuesday recommended fining Morgan Stanley MUFG Securities Co Ltd for alleged market manipulation related to shares of Seibu Holdings Inc.
The Securities and Exchange Surveillance Commission (SESC) made the recommendation to the Financial Services Agency.
The SESC recommended imposing an administrative penalty of 220 million yen (S$2.7 million), the watchdog said in a statement posted on its website.