Japan Prosecutors Seek Prison Terms for Ex-SMBC Nikko Executives

Japanese prosecutors are seeking multi-year prison terms for former executives at SMBC Nikko Securities Inc. accused of stock market manipulation, in a long-running case that’s being closely watched by the expat financial community.

At a Tokyo District Court hearing on Thursday, prosecutors asked that former head of equity Trevor Hillreceive a two-and-a-half year sentence for his alleged role in trying to boost prices of stocks ahead of so-called block trades. The court has yet to deliver a verdict in the case against the five defendants, including Hill, who have denied wrongdoing.

Other penalties sought include four years ...