|June 30, 2003|
Based on the inspection results of
Shinkin Securities Co., Ltd.
1. Recommendation Issued
The Securities and Exchange Surveillance Commission today issued a recommendation that the Prime Minister and the Commissioner of the Financial Services Agency (FSA) take administrative disciplinary and other appropriate action pursuant to Paragraph 1 of Article 20 of the FSA Establishment Act based upon the results of the inspection of Shinkin Securities Co., Ltd. (located in Kyobashi, Chuo-ku, Tokyo; Hideo Kitajima as Representative Director and President; capitalized at 20 billion yen; staffed with 43 directors and employees), which found the following facts constituting violations of laws and regulations by Shinkin Securities Co., Ltd. and its directors and employee.
2. Facts Found
(1) In June 2001, Representative Director and President of
Shinkin Securities Co., Ltd. in the course of the business gave orders
in-house to obtain from its parent juridical person financial data on
customers which were special information obtained by directors and employees
of the parent juridical person that came to their knowledge through their
lines of business, and from July 2001 onward obtained the special
information on a monthly basis from the parent juridical person without any
consent from the customers.
Recommendations to the FSA | top