Mitsui Trust Bank has terminated an employee suspected of insider trading. As the fifth-largest bank in Japan, the institution is fully cooperating with authorities in the ongoing investigation. A committee will be formed to further examine the incident.
A spokesperson from Mitsui Trust Bank stated that a former employee from the core trust banking division engaged in trading based on information obtained in the course of their duties. After reporting these trades to the company, the individual was dismissed. While specific details are withheld due to the ongoing investigation, the former employee held a managerial position and was involved in multiple illegal transactions.
Kazuya Oyama, the president of the department, expressed profound regret over any doubts raised among clients, shareholders, and other stakeholders due to this incident. He refrained from providing additional details about the person involved.
