Disciplinary Actions

Disciplinary Actions -2006-

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
March 29, 2006	J.P. Morgan Securities Asia Private Limited	Series of futures transactions to create an artificial market without any reflection of the actual state of the market	Fine of JPY 25 million
March 22, 2006	Mizuho Securities Co., Ltd.	Insufficient degree of control of electronic information processing system, Violation of just and equitable principles of transactions	Fine of JPY 10 million
March 10, 2006	Nihon Kyoei Securities Co., Ltd.	Insufficient degree of control of order acceptance for prevention of the artificial market	Censure
March 10, 2006	Rakuten Securities, Inc.	Insufficient degree of control of electronic information processing system	Censure
July 22, 2005	Maruhachi Securities Co., Ltd.	Conclusion of a contract to manage a discretionary account	Fine of JPY 10 million
June 30, 2005	Meiwa Securities Co., Ltd	Conclusion of a contract to manage a discretionary account	Fine of JPY 5 million
April 8, 2005	Aizawa 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 12 million
April 8, 2005	Aizawa 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 10 million