Last Updated : April 30, 2020
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|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.
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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