SESC Latest Topics No.32«February 2017» Last Updated : February 28, 2017

What’s New on the SESC Website

(Month of February 2017)

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

Topics

Press Releases

(Following press release is available in Japanese)

Financial Instruments Businesses etc.

February 28, 2017:

Recommendation for an administrative action against Japan Asia Asset Management Co., Ltd.open new window

«Summary»

The SESC recommended that the prime minister and the commissioner of the FSA take an administrative action against Japan Asia Asset Management Co., Ltd. (hereinafter “the Company”), an Investment Management Business Operator, an Investment Advisor/Agency and a Type II Financial Instruments Business Operator.

Based on an inspection of the Company, the SESC identified that the Company had had problems concerning investor protection in its discretionary investment management business operations.

February 10, 2017:

Inspection results and recommendation for an administrative action against Wolk Huren Japan Co., Ltd. and Silver Stay LLC.open new window

«Summary»

Based on an inspection of Wolk Huren Japan Co., Ltd. and Silver Stay LLC. (hereinafter “the Companies”), each being a Specially Permitted Business Notifying Person, the SESC identified that the Companies had (i) disguised investments from the Companies as those from qualified institutional investors, (ii) assisted other Specially Permitted Business Notifying Persons to operate their businesses that had problems concerning investor protection and (iii) engaged in investment advisory/agency business without statutory registration.

The SESC recommended that the prime minister and the commissioner of the FSA take an administrative action against the Companies with respect to the findings described in (iii) above.

February 10, 2017:

Inspection results and recommendation for an administrative action against INFOSHIP LLC.open new window

«Summary»

Based on an inspection of INFOSHIP LLC. (hereinafter “the Company”), a Specially Permitted Business Notifying Person, the director-general of the Kanto Local Finance Bureau identified that the Company had (i) engaged in type II financial instruments business without statutory registration and (ii) had problems concerning investor protection in its business operations.

The SESC recommended that the prime minister and the commissioner of the FSA take an administrative action against the Company with respect to the findings described in (ii) above.

February 10, 2017:

Inspection results and recommendation for an administrative action against World Stage LLC.open new window

«Summary»

Based on an inspection of World Stage LLC. (hereinafter “the Company”), a Specially Permitted Business Notifying Person, the director-general of the Kanto Local Finance Bureau identified that the Company had (i) engaged in type II financial instruments business without statutory registration, (ii) entrusted unregistered operators with solicitation for fund equities, (iii) had problems concerning investor protection in its business operations, and (iv) responded with false reporting to an order for the production of reports.

The SESC recommended that the prime minister and the commissioner of the FSA take an administrative action against the Company with respect to the findings described in (iii) and (iv) above.

Market Misconduct

February 10, 2017:

Recommendation to impose an administrative penalty order against an employee of LONGLIFE HOLDING Co.,Ltd. and SANWA COMPANY LTD. for committing insider trading related to shares of these two companies.open new window

«Summary»

The SESC recommended that the prime minister and the commissioner of the FSA impose an administrative penalty order of 960,000 yen against an employee of LONGLIFE HOLDING Co., Ltd. and SANWA COMPANY LTD.

Based on an inspection, the SESC determined that the offender had committed insider trading by purchasing shares of these two companies using insider information, in violation of the Financial Instruments and Exchange Act.

January 31, 2017:

Recommendation to impose an administrative penalty order against an offender who committed market manipulation related to shares of IG Port, Inc.open new window

«Summary»

The SESC recommended that the prime minister and the commissioner of the FSA impose an administrative penalty order of 6,900,000 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 bolstering share prices of IG Port, Inc. by opposing his/her own purchase and sale orders at higher prices than the contracted prices, and by successive purchase orders at higher prices than the contracted prices, 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.

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