SESC Latest Topics No.10«March 2015» Last Updated : March 25, 2015

What’s New on the SESC Website

(Month of March 2015)

This page contains the latest in events, developments, and updates to the SESC website.

Topics

Press Releases

(Following press release is available in English)

(Following press release is available in Japanese)

Financial Instruments Businesses etc.

March 20, 2015:

Notification of Inspection Results to Japan Veritas Co., Ltd.open new window

«Summary»

The SESC notified Japan Veritas Co., Ltd. (“the Company”), a Specially Permitted Business Notifying Person, of inspection results. Based on an inspection of the Company, the SESC identified that customer asset was used for dividends paid to customers and for other purposes, and the company provided customers investment reports containing false performance data.

March 20, 2015:

Petition for court injunctions against Japan Verita Co., Ltd. and its manager, and Gifter Japan Co., Ltd. and its manager.open new window

«Summary»

The SESC filed a petition with the Tokyo District Court against Japan Verita Co., Ltd. (“Verita”) and Gifter Japan Co., Ltd. (“Gifter”) to prohibit and suspend them from conducting the following activities. As a result of inspections by the SESC on Verita and Gifter, it was verified that Verita and its manager engaged in Type II financial instruments operations without statutory registration, and it was verified that Gifter and its manager provided false information to its customers for fund solicitation.

March 6, 2015:

Recommendation for an administrative action against Japan Industrial Promotion Fund Co., Ltd.open new window

«Summary»

The SESC recommended the prime minister and the commissioner of the FSA to take an administrative action against Japan Industrial Promotion Fund Co., Ltd. (the Company), a Type II Financial Instruments Business Operator and a Specially Permitted Business Notifying Person.
Based on an inspection of the Company, the SESC identified that the company received registration as a Financial Business Operators through wrongful means and it did not have a personnel structure sufficient to conduct Financial Instruments Business in an appropriate manner.

March 3, 2015:

Notification of Inspection Results to Quest Capital Management Co., Ltd.open new window

«Summary»

The SESC notified Quest Capital Management Co., Ltd. (“the Company”), a Specially Permitted Business Notifying Person. Based on an inspection of the Company, the SESC identified that it has engaged in Type II Financial Instruments Business without statutory registration, has unregistered operators solicit fund equities, has misappropriated funds, and has also delivered customers with investment reports containing false details.

Market Misconduct

February 27, 2015:

Recommendation to impose an administrative penalty order against an offender who committed market manipulation related to shares of TAKADA CORPORATION.open new window

«Summary»

The SESC recommended the Prime Minister and the commissioner of the FSA to impose an administrative penalty order of 7,390,000 yen against an offender who committed market manipulation in violation of the Financial Instruments and Exchange Act.
The SESC determined, based on an inspection, that the offender had committed market manipulation for fifteen days through opposing purchase and sale orders of the shares of TAKADA CORPORATION at a higher price than the contracted price.
The offender intended to mislead the market into believing that sales and purchases of the shares of TAKADA CORPORATION were thriving, and to cause fluctuations in market prices in his/her favor.

February 20, 2015:

Recommendation to impose an administrative penalty order on an employee of KAJI TECHNOLOGY CORPORATION for committing insider trading related to shares of KAJI TECHNOLOGY CORPORATION.open new window

«Summary»

The SESC recommended the Prime Minister and the commissioner of the FSA to impose an administrative penalty order of 710,000 yen against an employee of KAJI TECHNOLOGY CORPORATION.
The SESC determined, based on an inspection, that the offender had committed insider trading by purchasing shares of KAJI TECHNOLOGY CORPORATION using the insider information.

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