SESC Latest Topics No.93＜September 2023＞

Recommendation for an administrative monetary penalty payment order against a person for a violation in regard to making false statements in DDS CO. LTD’s disclosure documents.

<Summary>

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 1,500,000 yen against the person. As a result of an inspection from a disclosure-regulation perspective, the SESC found that the person had committed a violation by helping DDS CO. LTD. make false statements in its disclosure documents through provision of overestimated underwriting price.