SESC Latest Topics No.48＜August 2018＞

Court injunction against Orange-plan, Inc., Gold Mine Co., Ltd., and two respective managers.

＜Summary＞

In response to a petition filed on May 29, 2018, by the SESC with the Tokyo District Court for an injunction against Orange-plan, Inc., Gold Mine Co., Ltd., and two respective managers to prohibit and suspend them from engaging in the Type II financial instruments business without statutory registration, a court order was issued as per the content of the petition.

Recommendation for an administrative disciplinary action against maneo market Inc.

＜Summary＞

The SESC recommended that the Prime Minister and the Commissioner of the FSA take an administrative disciplinary action against maneo market Inc. (hereinafter “the Company”), a Type II Financial Instruments Business Operator.
Based on an inspection of the Company, the SESC identified that the Company had made false representations for the solicitation of funds and failed to establish a control environment to grasp necessary information about the management of invested funds.

Recommendation for an administrative disciplinary action against HEDGE FUND BANKING Co., Ltd.

＜Summary＞

The SESC recommended that the Prime Minister and the Commissioner of the FSA take an administrative disciplinary action against HEDGE FUND BANKING Co., Ltd. (hereinafter “the Company”), an Investment Advisory/Agency Business Operator.
This recommendation is based on the findings made in an inspection of the Company, under which the director-general of the Kanto Local Finance Bureau identified that (i) the Company had advised the conducting of transactions that may result in the creation of manipulative prices in regard to the purchase and sale of securities and (ii) the business operations of the Company had serious problems concerning investor protection.

Recommendation for an administrative disciplinary action against AK advisors Co., Ltd.

＜Summary＞

The SESC recommended that the Prime Minister and the Commissioner of the FSA take an administrative disciplinary action against AK advisors Co., Ltd. (hereinafter “the Company”), an Investment Advisory/Agency Business Operator.
This recommendation is based on the findings made in an inspection of the Company, under which the director-general of the Kanto Local Finance Bureau identified that (i) the Company had advised the conducting of transactions that may result in the creation of manipulative prices in regard to the purchase and sale of securities and (ii) the business operations of the Company had serious problems concerning investor protection.