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SESC Latest Topics No.62＜October 2019＞

Last Updated : October 31, 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.

October 17, 2019:	Court issuance prohibition and stay orders against IFP Tokyo Co., Ltd., and its manager. <Summary> In response to a petition filed on July 30, 2019, by the SESC with the Tokyo District Court for a petition prohibition and stay orders against IFP Tokyo Co., Ltd., and its manager for soliciting shares in foreign collective investment schemes without statutory registration, a court order was issued as per the content of the petition.

October 17, 2019:

Court issuance prohibition and stay orders against IFP Tokyo Co., Ltd., and its manager.

In response to a petition filed on July 30, 2019, by the SESC with the Tokyo District Court for a petition prohibition and stay orders against IFP Tokyo Co., Ltd., and its manager for soliciting shares in foreign collective investment schemes without statutory registration, a court order was issued as per the content of the petition.

Market Misconduct

September 20, 2019:	Recommendation to impose an administrative penalty order against an offender who committed market manipulation related to shares of KATSURAGAWA ELECTRIC CO., LTD and three other securities. ＜Summary＞ The SESC recommended that the Prime Minister and the Commissioner of the FSA impose an administrative penalty order of 1,190,000 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 KATSURAGAWA ELECTRIC CO., LTD and two securities through purchase entrustments by placing a large amount of purchase orders of shares of KATSURAGAWA ELECTRIC CO., LTD and two securities at lower prices than the contracted prices, and by successive purchase orders at higher prices than the contracted prices, for the purpose of inducing the sale and purchase of securities. The offender had committed market manipulation through bolstering share prices of KODAMA CHEMICAL INDUSTRY CO., LTD through purchase entrustments by placing a large amount of purchase orders of shares of KODAMA CHEMICAL INDUSTRY CO., LTD at lower prices than the contracted prices, and through sell entrustments by placing a large amount of sell orders of shares of KODAMA CHEMICAL INDUSTRY CO., LTD at higher prices than the contracted prices, for the purpose of inducing the sale and purchase of securities. Through these techniques, the offender intended to mislead other persons into believing that the sale and purchase of the securities were thriving, and to cause fluctuations in market prices in his/her favor.

September 20, 2019:

Recommendation to impose an administrative penalty order against an offender who committed market manipulation related to shares of KATSURAGAWA ELECTRIC CO., LTD and three other securities.

＜Summary＞

The SESC recommended that the Prime Minister and the Commissioner of the FSA impose an administrative penalty order of 1,190,000 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 KATSURAGAWA ELECTRIC CO., LTD and two securities through purchase entrustments by placing a large amount of purchase orders of shares of KATSURAGAWA ELECTRIC CO., LTD and two securities at lower prices than the contracted prices, and by successive purchase orders at higher prices than the contracted prices, for the purpose of inducing the sale and purchase of securities.

The offender had committed market manipulation through bolstering share prices of KODAMA CHEMICAL INDUSTRY CO., LTD through purchase entrustments by placing a large amount of purchase orders of shares of KODAMA CHEMICAL INDUSTRY CO., LTD at lower prices than the contracted prices, and through sell entrustments by placing a large amount of sell orders of shares of KODAMA CHEMICAL INDUSTRY CO., LTD at higher prices than the contracted prices, for the purpose of inducing the sale and purchase of securities.

Through these techniques, the offender intended to mislead other persons into believing that the sale and purchase of the securities were thriving, and to cause fluctuations in market prices in his/her favor.

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