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SESC Latest Topics No.21«February 2016» Last Updated : February 19, 2016

What’s New on the SESC Website

(Month of February 2016)

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

Topics

“Financial Instruments Business Operators under on-site inspection by the SESC”Available in Japanese

Press Releases

(Following press release is available in English)

Market Misconduct

February 2, 2016:	Recommendation for Administrative Monetary Penalty Payment Order for Market Manipulation by Evo Investment Advisors Ltd.

(Following press release is available in Japanese)

Financial Instruments Businesses etc.

February 19, 2016:	Recommendation for an administrative action against Jyoko Securities Co., Ltd. «Summary» The SESC recommended that the Prime Minister and the Commissioner of the FSA take an administrative action against Jyoko Securities Co., Ltd. (“the Company”), a Type I and II Financial Instruments Business Operator. Based on an inspection of the Company, the SESC identified that it has made false descriptions or misleading descriptions regarding important information for the sales of bonds.
February 19, 2016:	Recommendation for an administrative action against Kyowa Securities Co., Ltd. «Summary» The SESC recommended that the Prime Minister and the Commissioner of the FSA take an administrative action against Kyowa Securities Co., Ltd. (“the Company”), a Type I Financial Instruments Business Operator and an Investment Advisory and Agency Business Operator. Based on an inspection of the Company, the SESC identified that it has made false descriptions or misleading descriptions regarding important information for the sales of bonds.
February 19, 2016:	Recommendation for an administrative action against Takematsu Securities Co., Ltd. «Summary» The SESC recommended that the Prime Minister and the Commissioner of the FSA take an administrative action against Takematsu Securities Co., Ltd. (“the Company”), a Type I and II Financial Instruments Business Operator. Based on an inspection of the Company, the SESC identified that it has made false descriptions or misleading descriptions regarding important information for the sales of bonds.
February 19, 2016:	Recommendation for an administrative action against Tahara Securities Co., Ltd. «Summary» The SESC recommended that the Prime Minister and the Commissioner of the FSA take an administrative action against Tahara Securities Co., Ltd. (“the Company”), a Type I and II Financial Instruments Business Operator. Based on an inspection of the Company, the SESC identified that it has made false descriptions or misleading descriptions regarding important information for the sales of bonds.
February 19, 2016:	Recommendation for an administrative action against Rokuwa Securities Co., Ltd. «Summary» The SESC recommended that the Prime Minister and the Commissioner of the FSA take an administrative action against Rokuwa Securities Co., Ltd. (“the Company”), a Type I Financial Instruments Business Operator. Based on an inspection of the Company, the SESC identified that it has made false descriptions for the sales of bonds.
February 19, 2016:	Recommendation for an administrative action against Okinawa Securities Ltd. «Summary» The SESC recommended that the Prime Minister and the Commissioner of the FSA take an administrative action against Okinawa Securities Co., Ltd. (“the Company”), a Type I Financial Instruments Business Operator. Based on an inspection of the Company, the SESC identified that it has made false descriptions or misleading descriptions regarding important information for the sales of bonds.

Market Misconduct

February 9, 2016:	Recommendation to impose an administrative penalty order against an employee of I'rom Holdings Co., Ltd. for communicating insider information and against an offender who committed insider trading using the information provided. «Summary» The SESC recommended that the Prime Minister and the commissioner of the FSA impose administrative penalty orders of 510,000 yen against an employee of I'rom Holdings Co., Ltd. (hereinafter referred to as “offender (1)”), and 1,020,000 yen against an offender who received the information (hereinafter referred to as “offender (2)”). Based on an inspection, the SESC determined that offender (1) had communicated insider information concerning I'rom Holdings Co., Ltd., and that offender (2) had committed insider trading by purchasing shares of I'rom Holdings Co., Ltd. using the insider information provided, in violation of the Financial Instruments and Exchange Act.
February 2, 2016:	Recommendation to impose an administrative penalty order against an offender who received insider information from an employee of Ishiyama Gateway Holdings Inc. for committing insider trading related to shares of Ishiyama Gateway Holdings Inc. «Summary» The SESC recommended that the Prime Minister and the commissioner of the FSA impose an administrative penalty order of 2,360,000 yen against an offender who received insider information from an employee of Ishiyama Gateway Holdings Inc. Based on an inspection, the SESC determined that the offender had committed insider trading by selling shares of Ishiyama Gateway Holdings Inc. using the insider information, in violation of the Financial Instruments and Exchange Act.
February 2, 2016:	Recommendation to impose an administrative penalty order against an offender who committed market manipulation related to shares of Mipox Corporation. «Summary» The SESC recommended that the Prime Minister and the commissioner of the FSA impose an administrative penalty order of 580,000 yen against an offender who committed market manipulation in violation of the Financial Instruments and Exchange Act. Based on an inspection, the SESC determined that the offender had committed market manipulation by purchasing a large amount of shares, by opposing purchase and sale orders, and by successive purchase orders of shares of Mipox Corporation at a higher price than the contracted price. Through these techniques, the offender intended to cause fluctuations in market price in his/her favor.

February 9, 2016:

Recommendation to impose an administrative penalty order against an employee of I'rom Holdings Co., Ltd. for communicating insider information and against an offender who committed insider trading using the information provided.

«Summary»

The SESC recommended that the Prime Minister and the commissioner of the FSA impose administrative penalty orders of 510,000 yen against an employee of I'rom Holdings Co., Ltd. (hereinafter referred to as “offender (1)”), and 1,020,000 yen against an offender who received the information (hereinafter referred to as “offender (2)”).

Based on an inspection, the SESC determined that offender (1) had communicated insider information concerning I'rom Holdings Co., Ltd., and that offender (2) had committed insider trading by purchasing shares of I'rom Holdings Co., Ltd. using the insider information provided, in violation of the Financial Instruments and Exchange Act.

February 2, 2016:

Recommendation to impose an administrative penalty order against an offender who received insider information from an employee of Ishiyama Gateway Holdings Inc. for committing insider trading related to shares of Ishiyama Gateway Holdings Inc.

«Summary»

The SESC recommended that the Prime Minister and the commissioner of the FSA impose an administrative penalty order of 2,360,000 yen against an offender who received insider information from an employee of Ishiyama Gateway Holdings Inc.

Based on an inspection, the SESC determined that the offender had committed insider trading by selling shares of Ishiyama Gateway Holdings Inc. using the insider information, in violation of the Financial Instruments and Exchange Act.

February 2, 2016:

Recommendation to impose an administrative penalty order against an offender who committed market manipulation related to shares of Mipox Corporation.

«Summary»

The SESC recommended that the Prime Minister and the commissioner of the FSA impose an administrative penalty order of 580,000 yen against an offender who committed market manipulation in violation of the Financial Instruments and Exchange Act.

Based on an inspection, the SESC determined that the offender had committed market manipulation by purchasing a large amount of shares, by opposing purchase and sale orders, and by successive purchase orders of shares of Mipox Corporation at a higher price than the contracted price.

Through these techniques, the offender intended to cause fluctuations in market price in his/her favor.

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