SESC Latest Topics No.55＜March 2019＞

Last Updated : March 27, 2019

What’s New on the SESC Website

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.

February 22, 2019:

Recommendation for an administrative disciplinary action against Ai Trust Co., Ltd.open new window

<Summary>

The SESC recommended that the Prime Minister and the Commissioner of the FSA take an administrative disciplinary action against Ai Trust Co., Ltd. (hereinafter “the Company”), a Type II Financial Instruments Business Operator.
Based on an inspection of the Company, the SESC identified that the Company had (i) made false representations for the solicitation of funds investing in business loans (hereinafter “loan-type funds”), (ii) made misleading representations regarding important matters for the solicitation of loan-type funds, and (iii) failed to establish a control environment to grasp necessary information about actual conditions of loanees’ businesses and about the usage of loans, which resulted in misappropriations of funds’ assets.

 

Market Misconduct

March 1, 2019: Recommendation to impose an administrative penalty order against nine employees of Takata Corporation for committing insider trading related to shares of Takata Corporation.open new window

＜Summary＞

The SESC recommended that the Prime Minister and the Commissioner of the FSA impose an administrative penalty order against offenders (1)-(9) who were employees of Takata Corporation.

Based on an inspection, the SESC determined that the offenders had committed insider trading by selling shares of Takata Corporation using insider information, in violation of the Financial Instruments and Exchange Act.

1,910,000 yen against offender (1)
180,000 yen against offender (2)
180,000 yen against offender (3)
1,100,000 yen against offender (4)
1,420,000 yen against offender (5)
150,000 yen against offender (6)
1,560,000 yen against offender (7)
470,000 yen against offender (8)
760,000 yen against offender (9)
March 15, 2019: Recommendation to impose an administrative penalty order against an offender who committed insider trading related to shares of ASATSU-DK INC. using information provided from an employee of ASATSU-DK INC.open new window

＜Summary＞

The SESC recommended that the Prime Minister and the Commissioner of the FSA impose an administrative penalty order of 240,000 yen against an offender who received information from an employee of ASATSU-DK INC.

Based on an inspection, the SESC determined that the offender had committed insider trading by purchasing shares of ASATSU-DK INC. using insider information in violation of the Financial Instruments and Exchange Act.
March 15, 2019: Recommendation to impose an administrative penalty order against two offenders who committed insider trading related to shares of S TRUST Co., Ltd. using information provided from an officer of S TRUST Co., Ltd. and against an officer of S TRUST Co., Ltd.open new window

＜Summary＞

The SESC recommended that the Prime Minister and the Commissioner of the FSA impose administrative penalty orders of 1,540,000 yen against an officer of S TRUST Co., Ltd. (hereinafter referred to as “offender (1)”), and of 3,090,000 yen against an offender who received information from offender (1) (hereinafter referred to as “offender (2)”), and of 100,000 yen against an offender who received information from offender (1) (hereinafter referred to as “offender (3)”).

Based on an inspection, the SESC determined that offender (1) had communicated the insider information to offender (2), and that offender (2) and offender (3) had committed insider trading by purchasing shares of S TRUST Co., Ltd using insider information in violation of the Financial Instruments and Exchange Act.
 

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