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Report Non-Compliance with Laws and Regulations by Trading Participants | Japan Exchange Group This page is for the public, including a wide range of interested parties and general investors, to provide us with information regarding general compliance issues, such as whether a trading participant's business structures, entrustment and execution activities, or internal control systems may be in violation of laws or regulations, or whether there are any problems with such systems. Information provided will be used in our inspection and audit operations. File a Tip or Complaint - Please note that due to legal confidentiality obligations, we are unable to respond to inquiries regarding the existence, schedule, progress, or results of any inspections or audits conducted based on the information provided. - Please note that we do not provide consultation, mediation, or other services related to securities trading, nor do we respond to requests to solve individual issues. - We only accept ...

Report Unfair Trading in JPX Markets | Japan Exchange Group This page is for the public to provide us with information on likely unfair trading that involves issues listed on the markets of Tokyo Stock Exchange, Osaka Exchange, and Tokyo Commodity Exchange, such as “Company A‘s stock price is moving in an unnatural manner; I heard that Mr. B is involved...” or “Mr. D of Company C seems to have traded on inside information...” If you have information about an unfair trade, please submit it here. Your information will be used to help us in our market surveillance activities, such as in reviewing trading activity. Insider trading Market manipulation Spreading rumors Improper large acquisitions of shares or violation of the obligation to submit large shareholding reports (failure to submit reports, false statements, etc.) Other acts that violate laws and regulations File a Tip or Complaint (Reference) About Unfair Trading (Market ...

Trading Participant Internal Management System Checkpoints | Japan Exchange Group Trading Participant Internal Management System Checkpoints Japan Exchange Regulation (JPX-R), based on experience accumulated in its inspections, has developed a set of points regarding key inspection items. These points address the internal management of trading participants (broker-dealers qualified to access directly the trading platforms of Tokyo Stock Exchange or Osaka Exchange) which are the focus of inspections, and are cited when determining actions against violation of laws and regulations. It is our hope that trading participants will find them useful in their efforts to improve their internal management systems. (Note) ･These checkpoints are aimed mainly at General Trading Participants. For details, please refer to items relevant to the businesses of each trading participant. Trading at Tokyo Commodity Exchange (TOCOM) will be examined at the same points of inspection. Please refer to these points by substituting terms as needed as ...

JPX-R Inspection Plan | Japan Exchange Group Basic policy Priority Inspection Items, etc. Inspection Plan for FY2025 JPX-R Inspection Plan 　 TOCOM Audit Plan The Trading Participants Examination and Inspection Department publicizes an inspection plan every fiscal year. The plan includes the basic policies and priorities for inspections. To fulfill its role in maintaining market fairness and reliability, Japan Exchange Regulation (JPX-R) conducts inspections with the following items as its basic policy. Conducting inspections with expertise as an organization of the exchange group Monitoring trading participant's business operations and financial situation (1) Targeted monitoring (2) Regular communications Strengthening inspection based on a risk-based approach (1) Selecting trading participants for inspection based on risks (2) Conducting flexible inspections based on the severity of risk Strengthening internal management systems of trading participants Based on the market environment, the following topics have been identified for priority inspection for FY2025: Trading ...

Outline | Maintaining Trading Participant Quality | Japan Exchange Group Trading Participant Admission Inspection of Trading Participants Disciplinary Actions Compliance Support Cooperation with Other Regulators Trading Participant Admission Inspection of Trading Participants Disciplinary Actions Compliance Support Cooperation with Other Regulators Trading participants act as intermediaries for investors to place orders to the exchange and they serve a vital role in maintaining confidence in the exchange market through their securities operations. In accordance with exchange rules, Japan Exchange Regulation (JPX-R) and Tokyo Commodity Exchange, Inc. (TOCOM) conduct the following operations in relation to trading participants: Examining eligibility for admission as trading participant Inspection of trading participant compliance with laws and regulations Issuing warnings and deciding disciplinary actions as needed In consideration of the importance of maintaining high standards in the exchange market, trading participants are expected to contribute to fair price formation and ensure smooth trading. JPX-R and TOCOM conduct the ...

JPX-R's Consideration for Disciplinary Actions | Japan Exchange Group Points of Consideration when Deciding Disciplinary Actions JPX-R's Consideration for Disciplinary Actions 　 TOCOM’s Considerations for Sanctions In order to sustain consistency and uniformity in the application of disciplinary actions, Japan Exchange Regulation (JPX-R) has officially announced "Points of Consideration in Deciding Disciplinary Actions" Degree of Intent and Negligence of Individuals Involved in the Violation Range of Individuals Involved in the Violation Background of the Violation Whether the Trading Participant had Previously been Disciplined for a Similar Case Whether the Trading Participant had been Cautioned and Whether Other Trading Participants, etc., had been Disciplined for a Similar Case Impact of Violation on the Exchange Market Whether the Violation Undermines Confidence in the Exchanges or Other Trading Participants Relation to Violations of Laws and Regulations, etc. Treatment of Multiple Violations Duration, Frequency, and Scale of the Violation, and ...

Current Inspections and Inspection Results | Japan Exchange Group Recent Inspections Deficiencies Found Responses to Inquiries Other Activities Recent Inspections Deficiencies Found Responses to Inquiries Other Activities The following chart lists the number of companies that were sent inspection results in FY2024. Type of Inspection Description Number of Companies General Inspection Inspections that are carried out in the order of their priority, taking into consideration the results of previous inspections, the results of regulatory inspections, and the time since the previous inspection. 24 （Number of joint inspections) Inspections carried out together with the Japan Securities Dealers Association (JSDA). (21) （Number of joint inspections) Inspections carried out in collaboration with other exchanges. (7) Follow-Up Inspection A subsequent inspection held to confirm the status of improvement. The inspection, if necessary, is conducted within about a year after a trading participant is requested to submit an improvement report regarding any deficiencies found by ...

Outline | Outline of Self-Regulatory Operations | Japan Exchange Group Legal Foundations Specific Self-Regulatory Operations Outline 　 Exchanges' "Quality Control Center" Organizational Structure that Ensures Neutrality and Effectiveness Emphasis on Dialogue with Market Players Support to Prevent Violations of Laws and Regulations Self-regulatory operations in Japan are defined under the Financial Instruments and Exchange Act (FIEA). Article 84, Paragraph 1 of FIEA prescribes an exchange "shall properly conduct the Self-Regulation Related Services… in order to ensure fair sales and purchase of Securities and Market Transactions of Derivatives… as well as to protect investors." and provides a summary of self-regulatory operations in Paragraph 2 of the same article and Cabinet Office Ordinances as follows. (Article 84, Paragraph 2 of FIEA) Business related to the listing and delisting of financial instruments, financial indexes or options Investigation of member/trading participant compliance with laws, exchange rules or just and equitable principles ...

Necessity of Self-Regulatory Operations | Japan Exchange Group Self-regulation by Financial Instruments Exchanges Merits of Self-regulation by Financial Instruments Exchanges Japan Exchange Regulation (JPX-R) conducts self-regulatory operations based on entrustment from Tokyo Stock Exchange and Osaka Exchange. This arrangement ensures independent and effective self-regulation that is vital for financial instruments exchanges. Self-regulation generally refers to persons or organizations in the same industry forming a private sector body to establish a set of rules for the purpose of facilitating business and maintaining discipline. While the nature of self-regulation means that it can exist both within and outside the provisions of laws, in Japan, the Financial Instruments and Exchange Act defines self-regulation as an obligation to be fulfilled by financial instruments exchanges due to their role and mission in ensuring fair trading in the markets and protecting investors. The key merits of self-regulation ...

Educational Activities for Preventing Unfair Trading | Japan Exchange Group Introduction to COMLEC COMLEC Policy Internal Training Materials Educational Activities for Preventing Unfair Trading 　 Other Activities Introduction to COMLEC COMLEC Policy Internal Training Materials Japan Exchange Regulation (JPX-R) established COMLEC (Compliance Learning Center) to promote support for compliance activities by listed companies and trading participants. COMLEC endeavors to ensure fairness in the market by providing investors and other market users with opportunities for obtaining knowledge about laws and regulations concerning securities trading. COMLEC provides various learning and training services concerning compliance based on expertise thanks to JPX-R's proximity to the market. The policy of COMLEC is as follows: COMLEC provides high quality learning and training contents with practical applications. COMLEC explains the contents of the latest laws and regulations as well as various related rules in an easily understandable manner. COMLEC provides learning and training tools tailored to ...