Insider Trading / Rogue Trader Latest

Reuters reports that Nomura Holdings has come out and confirmed that Japan's market regulator, the Securities and Exchange Surveillance Commission, is investigating one of its employees who, with two others, is suspectd of making $485,000 from insider trading.

The employee, 30, who is said to be currently work in Hong Kong, is a Chinese national who previously worked at Nomura Securities' corporate information division, where he is alleged to have leaked confidential information in 2006 and 2007 ahead of M&A deals. A Nomura spokesperson said that the firm 'deeply regrets this. We will cooperate fully with the inspection'.

In the meantime, The Times reports that Eric Cordelle, one of SocGen rogue trader Jerome Kerviel's supervisors and head of the Delta One desk where Kerviel worked, has filed a claim hoping to join an action for damages brought against the trader by the French bank and some of its investors. Cordelle, 36, is apparently blaming Kerviel's actions (his unauthorized trading losses of $7.8bn nearly brought down the bank) for ruining his career - he is one of a number of people subject to disciplinary procedure over the affair, and even faces the sack.Until Kerviel's trading exploits came to light, Cordelle had a bright future in the industry.