Disciplinary Actions

Disciplinary Actions -2007-

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 9, 2007	Mitsubishi UFJ Securities Co., Ltd.	Proprietary trading based on corporate related information	Censure
January 19, 2007	Daiwa Securities Co. Ltd.	Acceptance of an order while knowing it could potentially be an insider trade Inadequate trading monitoring for prevention of unfair trading regarding cooperate related information Acceptance of orders without adequate confirmation of client’s identification	Censure
December 21, 2006	JP Morgan Securities Japan Co., Ltd.	Fine of JPY 5 million	Violation of just and equitable principles of transactions
December 1, 2006	Japan Asia Securities Co., Ltd.	Conclusion of a contract to manage a discretionary account	Censure
December 1, 2006	Maruhachi Securities Co., Ltd.	Conclusion of a contract to manage a discretionary account	Fine of JPY 10 million
October 20, 2006	Calyon Capital Markets Asia B.V.	Violation of short sell	Fine of JPY 10 million
October 20, 2006	Tachibana Securities Co., Ltd.	Violation of just and equitable principles of transactions	Fine of JPY 5 million
June 30, 2006	H.S. Securities Co., Ltd.	Insufficient degree of control of order acceptance for prevention of artificial market	Censure