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NHK Bans Stock Trading for Many Employees
 

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Tokyo, July 11, 2008 (Jiji Press) - Japan Broadcasting Corp. (NHK) said Friday it has introduced a ban on stock trading for many of its journalists and other employees as part of measures to prevent insider trading.

The ban covers some 5,700 staffers with access to NHK's internal system for news editing, the public broadcaster said.

NHK said the employees will have to submit written promises not to trade in stocks. They will also be required to gain approval from senior staff if they want to sell shares they already hold.

NHK does not ban stock trading by the families of the employees or request any reports on their transactions.

For other employees, NHK introduced a basic ban on short-term stock trading completed in periods of six months or less.

In March, three NHK employees, now fired, were fined for insider trading last year. The three made profits by trading in shares of two companies based on an exclusive NHK story on the firms' capital tie-up.

By Jiji Press, (c) Jiji Press

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