Nomura's CEO Kenichi Watanabe and COO Takumi Shibata resigned from their posts at the Japan-based investment bank in July amid an insider trading scandal. According to Bloomberg News, Watanabe bowed and apologized before reporters during a news conference accepting responsibility for the matter. Japanese regulators had found that some of Nomura employees were giving out illicit tips on share sales in 2010 to traders who then shorted those stocks before the offerings were publicly announced, Bloomberg News reported.