"As the Financial Services Agency, we will take strict measures if necessary, depending on developments in the investigation," Suzuki, who doubles as the finance minister, said.
Toshihiro Sato, the brokerage's deputy president, was arrested on Thursday for allegedly placing large buy orders for an individual stock on April 8, 2021.
This was in order to stabilize the price before selling it, which is in blatant violation of Japan's financial instruments and exchange law, prosecutors said.
Five other executives of the company were also indicted by the prosecutors.
They are believed to have calculatingly carried out similar transactions between December 2019 and November 2020, according to the prosecutors, who also charged the company itself.
Suzuki described the arrests and indictments as being "extremely regrettable."
"Securities houses and their executives are those who must dedicate themselves to securing fair transactions in the market," he said.
"This case of alleged organized unfair deals is far from this, and could shake the trust in the market," Suzuki added.
The FSA has the authority to slap a business improvement order on the offending company, which in part would serve to make the roles and responsibilities of the management clear-cut and not ambiguous.
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