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The panel made a series of recommendations to prevent such incidents in the future, including banning conversations with clients about rumors regarding financing transactions and using personal cellphones for business. Nomura is reportedly losing underwriting business in wake of the scandal. The company is still being investigated by the Securities and Exchange Surveillance Commission and could face penalties. Nomura's share price has more than halved since word of the investigation first surfaced in March, falling from 417 yen to 259 yen. It was up 5.7 percent Thursday on reports of Watanabe's resignation.
[Associated
Press;
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