| March 24, 2023: |
Recommendation for an administrative monetary penalty payment order against market manipulation relating to shares of JESCO Holdings, Inc. and other securities. <Summary>
The SESC recommended that the Prime Minister and the Commissioner of the FSA issue an administrative monetary penalty payment order of 2,660,000 yen against an individual investor who committed market manipulation in violation of the Financial Instruments and Exchange Act.
Based on an inspection, the SESC determined that the individual investor had committed market manipulation for the purpose of inducing the sale and purchase of securities through (1) placing purchase orders against his/her own sell orders, and (2) pushing up the share prices of JESCO Holdings, Inc. and Sincere Co., LTD. higher than the last commitment value by placing purchase orders at higher prices than the last commitment value.
Through these techniques, the individual investor 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. |
| March 28, 2023: |
Recommendation for administrative monetary penalty payment order against an agent of a corporation engaged in negotiation to conclude a contract with BuySell Technologies Co., Ltd. who committed insider trading and recommended the purchase of shares of BuySell Technologies Co., Ltd. <Summary>
The SESC recommended that the Prime Minister and the Commissioner of the FSA issue an administrative monetary penalty payment order of 3,030,000 yen against an agent of a corporation engaged in negotiation to conclude a contract with BuySell Technologies Co., Ltd. (hereinafter, “the Company”).
Based on an inspection, the SESC determined that the agent had committed insider trading by purchasing shares of the Company and had committed the offense of recommending the purchase of shares of the Company to an acquaintance, in violation of the Financial Instruments and Exchange Act. |
