September 8, 2017:
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Recommendation to impose an administrative penalty order against an employee of CCS Inc. and an employee who committed insider trading related to shares of CCS Inc. using the information provided from the employee. «Summary» The SESC recommended that the Prime Minister and the Commissioner of the FSA impose an administrative penalty order of 660,000 yen against an employee of CCS Inc. (hereinafter referred to as “offender (1)”), and of 1,330,000 yen against an offender who received the information from offender (1) (hereinafter referred to as “offender (2)”).
Based on an inspection, the SESC determined that offender (1) had communicated the insider information to offender (2), and that offender (2) had committed insider trading by purchasing shares of CCS Inc. using the insider information provided, in violation of the Financial Instruments and Exchange Act. |
| September 1, 2017: |
Recommendation to impose an administrative penalty order against an offender who committed market manipulation related to shares of Asaka Riken Co.,Ltd. «Summary» The SESC recommended that the Prime Minister and the Commissioner of the FSA impose an administrative penalty order of 2,080,000 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 Asaka Riken Co.,Ltd. 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. |
