Market News
Sep. 24, 2014 TSE TSE imposes Disciplinary Action Against Bansei Securities Co.,Ltd.
The Tokyo Stock Exchange (hereinafter "TSE") has imposed disciplinary action (Censure) against Bansei Securities Co.,Ltd. (hereinafter the "Company") pursuant to Rule 34, Paragraph 1 of the Trading Participant Regulations.
Additionally, TSE has requested the Company to submit a business improvement report pursuant to the provisions of Rule 19, Paragraph 1 of the Trading Participant Regulations.
The business improvement report shall include:
- Respond to customers that had incurred losses due to this case in good faith after confirming their intentions;
- Investigate the cause of this case, including problems in the business management and internal management systems, and clarify the responsibilities of the management;
- Conduct a fundamental review of the business management system, formulate measures to prevent recurrence, including strengthening the business management and internal management systems, and properly implement such measures;
- Verify whether similar cases exist (including the existence of funds whose management involves a board member, executive officer, employee, etc. of the company, and the appropriateness of such management).
DISCLAIMER: This translation may be used for reference purposes only. This English version is not an official translation of the original Japanese document. In cases where any differences occur between the English version and the original Japanese version, the Japanese version shall prevail. This translation is subject to change without notice. Tokyo Stock Exchange, Inc., Japan Exchange Group, Inc., and/or Japan Exchange Regulation shall individually or jointly accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or changes with regard to this translation.
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