Disciplinary Actions

Disciplinary Actions -2005-

Update : Apr. 04, 2007

We require trading participants to comply with laws and regulations, and impose a penalty such as fine on trading participants that violated the laws and regulations.

Date	Trading Participant	Violation	Disciplinary Action
February 22, 2005	UFJ Tsubasa Securities Co., Ltd	Matched orders	Fine of JPY 20 million
February 22, 2005	Niigata Securities Co., Ltd	False statements in relation to securities trading, Acts in violation of regulations regarding segregated custody of customer's assets, False reports to TSE	Fine of JPY 50 million
December 17, 2004	Chuo Securities Co., Ltd	Conclusion of a contract to manage a discretionary account	Fine of JPY 2 million
		Displayed to cause misapprehension concerning important facts in relation to securities trading	Censure
November 12, 2004	Jujiya Securities Co., Ltd.	A series of transactions to create an artificial market without any reflection of the actual state of the market	Fine of JPY 20 million
August 6, 2004	MARUSAN SECURITIES CO., LTD	Acceptance of a series of transactions to create an artificial market without any reflection of the actual state of the market	Fine of JPY 8 million
June 30, 2004	TOYO SECURITIES CO.,LTD.	Failure to deliver prospectus upon Public Offering	Fine of JPY 3 million
June 30, 2004	OKACHI SECURITIES CO., LTD.	Conclusion of a contract to manage a discretionary account	Fine of JPY 1 million