SESC Latest Topics No.103 ＜March 2025＞

Last Updated : March 27, 2025

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.

October 31,
2024:

Court issuance of prohibition and stay order against a manager and key members of Global Investment Lab Inc.open new window

<Summary>
 In response to a petition filed on June 25, 2024, by the SESC with the Tokyo District Court for an order of prohibition and suspension against Global Investment Lab Inc. (hereinafter “GIL”), ITO Ryo (hereinafter “ITO”), the Representative Director of GIL, and YAMADA Takeho (hereinafter “YAMADA”) and KURIHARA Toshimasa (hereinafter “KURIHARA”), key members of GIL, for their acts in violation of the Financial Instruments and Exchange Act (soliciting shares in foreign collective investment schemes without statutory registration), a court order was issued as per the content of the petition against ITO, YAMADA, and KURIHARA.

The hearing on the petition against GIL is pending because GIL was dissolved by a resolution of the general shareholders meeting on August 6, 2024, and is currently undergoing liquidation proceedings.
 
November 19,
2024:		 Withdrawal of petition for a court injunction against Global Investment Lab Inc.open new window

<Summary>
 Regarding the petition filed on June 25, 2024, with the Tokyo District Court for an order of prohibition and suspension against Global Investment Lab Inc. (hereinafter “GIL”), ITO Ryo, the Representative Director of GIL, and YAMADA Takeho and KURIHARA Toshimasa, key members of GIL, for their acts in violation of the Financial Instruments and Exchange Act (soliciting shares in foreign collective investment schemes without statutory registration), the SESC has decided to withdraw the petition against GIL, considering that GIL was dissolved by the resolution of its general shareholders meeting on August 6, 2024, and is in the process of liquidation,  therefore the risk of GIL continuing the illegal activities has become low. 
 
January 17,
2025:		 Recommendation based on Inspection Results for WCP Corporation.open new window

<Summary>
As a result of the Director-General of the Kanto Local Finance Bureau's inspection of WCP Corporation (Notifier of Specially Permitted Business for Qualified Institutional Investors, etc.), it was found that the company was not faithfully providing its investment management business, including by conducting transactions between the fund and the Company's directors without obtaining the consent of investors. On January 17, 2025, the SESC recommended that the Financial Services Agency take administrative actions.
Specifically, in its fund management, the Company conducted transactions with the Company's directors without obtaining the consent of investors, and did not state details of these transactions that should be stated in the investment report. In addition, the Company acquired newly issued shares of an unlisted company at a higher price than the price offered by the issuing company.
Under such circumstances, the Company is deemed not to work faithfully on behalf of investors in providing its investment management business.
 

False Disclosure Statement

January 28,
2025:

Recommendation for an administrative monetary penalty payment order against GALA INCORPORATED for making false statements in its disclosure documents.open new window

<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 64,950,000 yen against GALA INCORPORATED (hereinafter, “the Company”). As a result of an inspection from a disclosure-regulation perspective, the SESC recognized that the Company made false statements in the Annual Securities Report and Securities Registration Statement that it submitted due to improper accounting treatment. 

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