SESC Latest Topics No.29«October 2016»
Last Updated : October 28, 2016
SESC Latest Topics No.29«October 2016» | Last Updated : October 28, 2016 |
What’s New on the SESC Website
(Month of October 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 Japanese)
Financial Instruments Businesses etc.
Market Misconduct
October 11, 2016: | Filing a criminal charge against a person suspected of committing market manipulation. «Summary» The SESC filed a charge against the suspect with the Saitama District Public Prosecutors Office in violation of the Securities and Exchange Act. The suspect committed market manipulation as described below, with regard to the shares of OHT Inc. (“OHT”), listed on MOTHERS of Tokyo Stock Exchange, Inc. (“TSE”), for the purpose of aiming to raise the price of the share. For the purpose of inducing sales and purchases of the shares on seven trading days between November 21, 2006, and November 30, 2006, in the Mothers of TSE, the suspect conducted a series of sales, purchases, and entrustments of the shares that would mislead others into believing that sales and purchases of the shares were thriving and would cause fluctuations in the price of the shares. The suspect raised the share price of OHT from 1,030,000 yen to 1,140,000 yen, by the following actions: purchasing 392 shares taking advantage of methods such as placing a series of limit purchase orders at prices higher than the previous quotations and executing the orders at increasing prices, and selling 438 shares simultaneously, under the name of 10 persons via 15 securities firms, by conducting entrustments of purchases of 50 shares taking advantage of methods such as placing limit purchase orders at prices lower than the previous quotations in the multiple price ranges to increase the volume of limit purchase orders, under the name of six persons via six securities firms. In addition, on seven trading days for the same period as described above, the suspect conducted fake sales and purchases for a total of 258 shares, without the purpose of transfer of right by selling and purchasing the shares at the same time, under the name of 10 persons via 14 securities firms in the Mothers of TSE, for the purpose of misleading others about the state of sales and purchases of the shares such as misleading others into believing that sales and purchases of the shares were thriving. The SESC appreciates assistance of the Japan Exchange Regulation in this matter. |
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September 27, 2016: | «Summary» The SESC recommended that the Prime Minister and the commissioner of the FSA impose an administrative penalty order of 10,570,000 yen against an offender who received insider information from a contract negotiator of a tender offeror of Minnano Wedding Co., Ltd. Based on an inspection, the SESC determined that the offender had committed insider trading by purchasing shares of Minnano Wedding Co., Ltd. using the insider information, in violation of the Financial Instruments and Exchange Act. |
September 27, 2016: | «Summary» The SESC recommended that the Prime Minister and the commissioner of the FSA impose an administrative penalty order of 4,140,000 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 through Sale Entrustments by placing a large amount of sale orders of shares of TECHNO HORIZON HOLDINGS CO., LTD. and two other securities at higher prices than the contracted prices, and by Purchase Entrustments by placing a large amount of purchase orders of shares of TECHNO HORIZON HOLDINGS CO., LTD. and two other securities at lower prices than the contracted price, for the purpose of inducing sales and purchase of Securities. Through these techniques, the offender intended to mislead other persons into believing that the sales and purchase of the securities were thriving and cause fluctuations in market prices in his/her favor. |
September 21, 2016: | «Summary» The SESC recommended that the acting Prime Minister and the commissioner of the FSA impose an administrative penalty order of 600,000 yen against a contract negotiator of a tender offeror of KEIOZU HOLDINGS COMPANY. Based on an inspection, the SESC determined that the offender had committed insider trading by purchasing shares of KEIOZU HOLDINGS COMPANY using the insider information, in violation of the Financial Instruments and Exchange Act. |
False Disclosure Statement