SESC Latest Topics No.4 «August 2014»
Last Updated : August 20, 2014
| SESC Latest Topics No.4 «August 2014» | Last Updated : August 20, 2014 |
What’s New on the SESC Website
(Month of August 2014)
Topics
“Financial Instruments Business Operators under on-site inspection by the SESC”
Available in Japanese
Press Releases
(Following press release is available in Japanese)
Market Misconduct
| August 8, 2014: | «Summary» The SESC files the case with the Tokyo District Public Prosecutors Office that, for the purpose of maintaining and raising the price of stock of Inoue Kogyo Co., Ltd., the suspect in conspiracy with other people conducted a fake payment of 1.5 billion out of 1.8 billion yen with regard to the allocation of shares to the third parties, and on September 24, 2008, they falsely disclosed that the payment of 1.8 billion yen had been fully completed, through the timely disclosure system of the Tokyo Stock Exchange. |
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| July 29, 2014: | «Summary» The SESC recommended the prime minister and the commissioner of the FSA to impose an administrative penalty charge of 1,720,000 yen against the offender. The SESC determined, based on an on-site inspection, that the offender violated the Financial Instruments and Exchange Act and committed market manipulation by consecutively purchasing the shares of TASAKI & Co., Ltd at a higher price than the contracted price. The offender intended to mislead the market into believing that sales and purchase of the shares of TASAKI & Co., Ltd. were thriving, and to cause fluctuations in market prices to be in his/her favor. |
| July 29, 2014: | «Summary» The SESC recommended the prime minister and the commissioner of the FSA to impose an administrative penalty order of 710,000 yen against the offender. The SESC determined, based on the on-site inspection, that the offender violated the Financial Instruments and Exchange Act and committed market manipulation by purchasing a large amount of shares of Media Create Co., Ltd. The offender intended to mislead the market into believing that sales and purchase of the shares of Media Create Co., Ltd. were thriving, and to cause fluctuations in market prices to be in his/her favor. |
Financial Instruments Businesses etc.
| August 6, 2014: | Petition for a court injunction against Granter Co., Ltd. and its two managers. «Summary» The SESC filed a petition to the Tokyo District Court for an injunction against Granter Co., Ltd. ("the Company") and its two managers to prohibit and suspend its acting as a broker for discretionary investment contracts, and its solicitation of membership rights of a limited liability company and shares in foreign collective investment schemes. Based on an investigation of the Company, the SESC identified that it acted as a broker for discretionary investment contracts, and solicited membership rights of a limited liability company and shares in foreign collective investment schemes without statutory registration. |
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| August 1, 2014: | Recommendation for an administrative action against Consulting Alpha, Inc. «Summary» The SESC recommended the Prime Minister and the Commissioner of the FSA to take an administrative action against Consulting Alpha, Inc. ("the Company"), an Investment Advisory and Agency Business. Based on an inspection of the Company, the SESC identified that it had solicited foreign securities and certificates without statutory registration. |
| July 28, 2014: | Court injunction against Grant Co., Ltd. «Summary» In response to a petition filed by the SESC with the Osaka District Court for an injunction against Grant Co., Ltd., and related key figures to prohibit and suspend its solicitation of shares of foreign collective investment schemes on July 3, 2014, a court order was issued as per the content of the petition. |
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