SESC Latest Topics No.86＜November 2022＞
Last Updated : November 24, 2022
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)
Financial Instruments Businesses etc.
|September 30, 2022:
Recommendation for administrative disciplinary action against Merchant Brains Investment Advisor Co., Ltd.
The SESC recommended that the Prime Minister and the Commissioner of the FSA take an administrative disciplinary action against Merchant Brains Investment Advisor 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 (i) provided customers with false information in connection with the conclusion or solicitation of financial instrument transaction contracts, and (ii) made advertisements with representations that significantly conflict with the facts of the matter.
|October 6, 2022:
Court issuance of prohibition and stay order against Thousand Ventures Co., Ltd. and its manager.
In response to a petition filed on June 28, 2022, by the SESC with the Tokyo District Court for a prohibition and stay order against Thousand Ventures Co., Ltd. and its manager for engaging in the financial instruments business without statutory registration and conducting public offerings of its corporate bonds without statutory notification, a court order was issued as per the content of the petition.
False Disclosure Statement
|November 1, 2022:
Recommendation for an administrative monetary penalty payment order against amana inc. for making false statements in its disclosure documents.
The Securities and Exchange Surveillance Commission (SESC) made a recommendation that the Prime Minister and the Commissioner of the Financial Services Agency impose an administrative monetary penalty order of 16,500,000 yen against amana inc. (hereinafter, “the Company”). As a result of an inspection from a disclosure-regulation perspective, the SESC found that the Company had prepared consolidated financial statements that contained excessive current net profits due to improper accounting treatment and submitted Annual Securities Reports and Quarterly Reports containing such statements. The SESC accordingly decided that the Company had made false statements in the disclosure documents.