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Update : Nov. 30, 2023
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Disciplinary Actions

TSE requires trading participants to comply with laws and regulations, and imposes penalties such as fines on trading participants that violate the laws and regulations.

Date	Trading Participant	Violation	Disciplinary Action	(reference) Regulatory Action	Details
Nov. 30, 2023	MIKI SECURITIES CO., LTD.	(1) Solicitations in violation of the suitability principle, (2) Inadequate system to comply with the suitability principle	Censure	Suspension of trading business involving the new solicitation of foreign stocks (one month)
Sep. 28, 2023	Chibagin Securities Co.,Ltd.	(1) Solicitations in violation of the suitability principle were continuously conducted for a long time, (2) Insufficient system to comply with the suitability principle	Censure	-
Dec. 20, 2022	SMBC Nikko Securities Inc.	(1) Conduct of making illegal purchases, etc. for the purpose of stabilizing market prices of listed shares, (2) Deficiency in the control environment for transaction screening, (3) Deficiency in the control environment for business operations relating to block offers, (4) Inappropriate operations of business in cooperation with a bank	Fine of JPY JPY 300 million and Suspension of securities trading on the Tokyo Stock Exchange for the proprietary account of the Equity Department (five days)	Suspension trading of securities related to block offer business including solicitation, consignment, and executions (three months)
Aug. 28, 2019	Nomura Securities Co.,Ltd.	Acts based on a lack of awareness for investor protection or acts that damage fair transactions. Furthermore, in consideration of stable operation of the TSE market, the Activity has contributed to loss of credibility toward TSE and breached good faith toward TSE and trading participants of TSE	Fine of JPY 10 million	-

Points Considered in Deciding Disciplinary Actions