Last Updated : February 27, 2020
What’s New on the SESC Website
This page contains the latest in events, developments, and updates to the SESC website.
(Following press release is available in Japanese)
|January 28, 2020:
||Recommendation for administrative monetary penalty payment order for an offender who committed market manipulation related to shares of BEAT HOLDINGS LIMITED.
The SESC recommended that the Prime Minister and the Commissioner of the FSA impose an administrative penalty order of 23,570,000 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 for the purpose of inducing the sale and purchase of securities through bolstering share prices of BEAT HOLDINGS LIMITED through purchase entrustments (1) by placing successive purchase market orders or purchase orders at higher prices than the contracted prices, (2) by opposing his/her own purchase and sale orders at higher prices than the contracted prices, and (3) by making the prices through placing the purchase orders without limit with closed conditions.
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.
|January 28, 2020:
||Recommendation for an administrative monetary penalty order against two employees who committed insider trading related to shares of JAPAN DRILLING CO., LTD., and against an employee who recommended the purchase of shares of the Company.
The SESC recommended that the Prime Minister and the Commissioner of the FSA impose administrative penalty orders against offenders (1) and (2), who are employees of JAPAN DRILLING CO., LTD., and against offender (3), who is an employee of the Company.
Based on an inspection, the SESC determined that offender (1) and offender (2) had committed insider trading by purchasing shares of JAPAN DRILLING CO., LTD., and the offender (3) had committed the offense of recommending the purchase of shares of the Company in violation of the Financial Instruments and Exchange Act.
270,000 yen penalty against offender (1)
170,000 yen penalty against offender (2)
660,000 yen penalty against offender (3)
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