SESC Latest Topics No.36«June 2017»

Last Updated : June 28, 2017

What’s New on the SESC Website

(Month of June 2017)

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

Press Releases

(Following press release is available in Japanese)

Financial Instruments Businesses etc.

June 16, 2017:

Inspection results and recommendation for an administrative action against RISE Co., Ltd.open new window

«Summary»

Based on an inspection of RISE Co., Ltd. (hereinafter “the Company”), a Specially Permitted Business Notifying Person, the director-general of the Tokai Local Finance Bureau identified that the Company had (1) engaged in type II financial instruments business without statutory registration, (2) entrusted unregistered operators with solicitation, and (3) had serious problems concerning investor protection in its business operations: The company had (i) solicited customers by false explanation; (ii) failed to provide customers with a fact that could significantly influence investment decisions; (iii) misappropriated funds for other than investment purposes; and (iv) managed funds in a sloppy manner.
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 (3)-(iii) and (iv) above.
June 6, 2017:

Recommendation for an administrative action against FIP-Partners Co., Ltd.open new window

«Summary»

The SESC recommended that the prime minister and the commissioner of the FSA take an administrative action against FIP-Partners Co., Ltd. (hereinafter “the Company”), a Type II Financial Instruments Business Operator.
This recommendation is based on the findings of an inspection of the Company, whereby the director-general of the Kanto Local Finance Bureau identified that the Company had problems concerning investor protection in its business operations.
June 2, 2017:

Recommendation for an administrative action against Crowd Securities Japan, Inc.open new window

«Summary»

The SESC recommended that the prime minister and the commissioner of the FSA take an administrative action against Crowd Securities Japan, Inc. (hereinafter “the Company”), a Type I and II Financial Instruments Business Operator.
Based on an inspection of the Company, the SESC identified that the Company had engaged in advertising activities using indications that were significantly contradictory to facts or seriously misleading investors with regard to the handling of public offerings of equity interests in silent partnership (Tokumei Kumiai) agreements.


Market Misconduct

May 26, 2017:

Recommendation to impose an administrative penalty order against an offender who received insider information from an officer of ETA ELECTRIC INDUSTRY CO., LTD. for committing insider trading related to the shares of ETA ELECTRIC INDUSTRY CO., LTD.open new window

«Summary»

The SESC recommended that the prime minister and the commissioner of the FSA impose an administrative penalty order of 2,780,000 yen against an offender who belongs to a juridical person dealing with products of ETA ELECTRIC INDUSTRY CO., LTD., and who received insider information pertaining to business in relation to his/her duty, from a person who also belongs to the juridical person and has received the insider information in the course of his/her duty, from an officer of ETA ELECTRIC INDUSTRY CO., LTD.
Based on an inspection, the SESC determined that the offender had committed insider trading by selling shares of ETA ELECTRIC INDUSTRY CO., LTD. using the insider information, in violation of the Financial Instruments and Exchange Act.

 

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