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.

DateTrading ParticipantViolation Disciplinary Action (reference) Regulatory ActionDetails
Nov. 30, 2023 MIKI SECURITIES CO., LTD. (1) Solicitations in violation of the suitability principle, (2) Inadequate system to comply with the suitability principle CensureSuspension of trading business involving the new solicitation of foreign stocks (one month) icon-pdf
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- icon-pdf
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) icon-pdf
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- icon-pdf
Points Considered in Deciding Disciplinary Actions