05:28 AM EDT, 10/18/2024 (MT Newswires) -- Several of Japan's largest financial institutions have suspended trading activities with Nomura Holdings ( NMR ) following a market manipulation scandal, Bloomberg reported Friday, citing people familiar with the matter.

The report said at least 10 firms, including major life insurers, trust banks and asset management companies, have temporarily halted some business with Nomura due to the breach.

The institutions may resume their equity or bond dealings with Nomura once the company outlines measures to prevent future incidents, according to the report.

"As it is up to our clients to make decisions regarding individual transactions, we are not in a position to answer," a spokesperson for Nomura told Bloomberg News.

MT Newswires could not immediately reach Nomura for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)