Japan's markets watchdog said on Tuesday it has recommended that Nissan Motor Co Ltd be fined about 2.4 billion yen ($22 million) over the underreporting of former chairman Carlos Ghosn's compensation. The fine would cover the four financial years from April 2014 to March 2018, markets watchdog the Securities and Exchange Surveillance Commission (SESC) said in a statement. Ghosn was arrested in Tokyo in November last year over allegations of financial misconduct, including understating his salary by around 9.1 billion yen over a period of nearly a decade and temporarily transferring personal financial losses to the books of Nissan. He has denied wrongdoing. Due to the statute of limitations, Nissan is not liable for underreporting before the financial year starting April 2014, an SESC official told a press briefing. Japan's financial regulator the Financial Services Agency will make a final decision on the fine. A 2.4 billion yen fine would be the second largest ever imposed in Japan … [Read more...] about Japan’s Markets Watchdog Recommends $22 Million Fine For Nissan Over Ghosn Pay
