Japanese regulators recommend $22 million fine on Nissan
Added 12-10-19 04:22:02am EST - “Japanese securities regulators are recommending that automaker Nissan be fined 2.4 billion yen ($22 million) over the under-reporting of compensation of its former chairman, Carlos Ghosn.” - Washingtontimes.com
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TOKYO (AP) - Japanese securities regulators are recommending that automaker Nissan be fined 2.4 billion yen ($22 million) over the under-reporting of compensation of its former chairman, Carlos Ghosn.
The watchdog, the Securities and Exchange Surveillance Commission, said Tuesday it made the recommendation to the government’s Financial Services Agency on the disclosure documents from 2014 through 2017.
Nissan Motor Co. said it accepted the penalty and had corrected its securities documents in May, although its final decision will come after it receives official notice.
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Ghosn was arrested in November 2018 and is out on bail. He has been charged with under-reporting is compensation and other financial misconduct. He says he is innocent and has said the future compensation was never agreed upon or paid.
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