SESC Latest Topics No.60＜August 2019＞

Recommendation for administrative disciplinary action against Togo Securities Co., Ltd.

<Summary>

The SESC recommended that the Prime Minister and the Commissioner of the FSA take administrative disciplinary action against Togo Securities Co., Ltd. (hereinafter, “the Company”), a Type I and II Financial Instruments Business Operator, and an Investment Advisor/Agency.
 
This recommendation is based on the findings of an inspection of the Company, under which the Director-General of the Kanto Local Finance Bureau identified that the Company had compensated some customers for losses incurred in FX Daily Futures Contracts.

Court issuance prohibition and stay orders against Kabushiki Kaisha D.U.corporation and its manager.

<Summary>

In response to a petition filed on June 26, 2019 by the SESC with the Nagoya District Court for a petition prohibition and stay orders against Kabushiki Kaisha D.U.corporation and its manager to prohibit and suspend them from engaging in intermediation for Discretionary Investment Contract on a regular basis without statutory registration, a court order was issued as per the content of the petition.

Court for a petition prohibition and stay orders against IFP Tokyo Co.,Ltd. and its manager.

<Summary>

Based on an investigation of IFP Tokyo Co.,Ltd. (hereinafter, “the Company”), the SESC identified that the Company and its manager had solicited shares in foreign collective investment schemes without statutory registration. The SESC filed a petition with the Tokyo District Court for a petition prohibition and stay orders to prohibit and suspend them from conducting aforementioned activities.