SESC Latest Topics No.66<April 2020>

Last Updated : April 30, 2020

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.

         
March 13, 2020:

Petition to the court for prohibition and suspension against GPJ Venture Capital LLC, its senior manager and the senior corporate executive officer.open new window

<Summary>

Based on an investigation of GPJ Venture Capital LLC (hereinafter, “the Company”), the SESC identified that the Company, its senior manager and the senior corporate executive officer had solicited shares in the LLC and collective investment schemes without authority. The SESC filed a petition with the Tokyo District Court for prohibition and suspension of aforementioned activities.

March 3, 2020:

Recommendation for administrative disciplinary action against Fulham Co., Ltd.open new window

<Summary>

The SESC recommended that the Prime Minister and the Commissioner of the FSA take administrative disciplinary action against Fulham Co., Ltd. (hereinafter, “the Company”), an Investment Advisor/Agency.
 
This recommendation is based on findings in an inspection of the Company, under which the Director-General of the Kanto Local Finance Bureau identified that the Company had made an advertisement that significantly conflicts with actual facts of matter or that could cause serious misconception.

March 3, 2020:

Recommendation for administrative disciplinary action against MLC investment Co., Ltd.open new window

<Summary>

The SESC recommended that the Prime Minister and the Commissioner of the FSA take administrative disciplinary action against MLC investment Co., Ltd. (hereinafter, “the Company”), an Investment Advisor/Agency.
 
This recommendation is based on findings in an inspection of the Company, under which the Director-General of the Kanto Local Finance Bureau identified that the Company had made an advertisement that significantly conflicts with actual facts of matter or that could cause serious misconception.

Market Misconduct

    
February 28, 2020:
 
Recommendation for administrative monetary penalty payment order for an offender who committed market manipulation related to shares of TOYO GOSEI CO., LTD.open new window

<Summary>

The SESC recommended that the Prime Minister and the Commissioner of the FSA impose an administrative penalty order of 8,050,000 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 TOYO GOSEI CO., LTD through purchase entrustments by placing successive purchase orders at higher prices than the contracted prices and by opposing his/her own purchase and sale orders at higher prices than the contracted prices.
 
Through these techniques, the offender intended to mislead other persons into believing that the sales and purchases of the securities were thriving, and to cause fluctuations in market prices in his/her favor.
 

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