(Provisional Translation)
15th September, 2008
Financial Services Agency
Government of Japan
Administrative Actions on Lehman Brothers Japan Inc.
- Based on both i) the current situations of Lehman Brothers Holdings Inc. and its affiliated companies and ii) their relationship with Lehman Brothers Japan Inc. [hereinafter referred to as "Lehman"] in terms of capital and transactions, it is necessary to make assurance doubly sure on the finance of Lehman not to damage the benefits of creditors and investors through the outflow of money from Lehman's assets to overseas affiliated companies triggered by the announcement of Lehman Brothers Holdings Inc.
- Therefore, Financial Services Agency today issued administrative orders to Lehman based on Article 56-3 and Article 51 of Financial Instruments and Exchange Act.
(1) Order of retention of assets within Japan
Lehman has to retain certain assets within Japan that equivalent to all liabilities excluding liabilities to overseas (including guarantees).
(2) Business Improvement Order
i) Get hold of investors and assets deposited from investors precisely.
ii) Take necessary measures to assure deposited assets from investors and not to use-up your property unreasonably.
iii) Take full measures for investor protection, with considering fair treatment among investors.
iv) Try to keep every investors informed appropriately about retention of deposited assets, and consider proper correspondence to investors.
Contact:
Financial Services Agency, Government of Japan
Tel +81-(0)3-3506-6000(main)
Securities Business Division, Supervisory Bureau
(ext. 3370)
