Preventing Unfair Transactions

Guidelines Concerning the Prevention of Unfair Trading

Update : May 24, 2011

In order to prevent unfair trading in the securities market, it is important to sufficiently understand laws, rules, and regulations. However, it is often difficult in practice to judge whether and when specifically a particular transaction violates laws, regulations, and other rules.

Therefore, from the perspective of preventing market manipulation and other unfair transactions, TSE Regulation has published various guidelines concerning specific types of acts related to certain transactions or during specified periods that may come under scrutiny in the course of our market surveillance activities.

As these guidelines do not constitute part of the TSE rules, execution of transactions in a manner specified in these guidelines does not necessarily result in violation of laws and regulations or the TSE rules. However, we expect trading participants and others (divisions in charge of compliance, in particular) to find them useful as practical guidance for the prevention of unfair trading.

The following TSE Regulation guidelines published so far are available in a PDF format.

Guidelines Concerning the Acquisition of Own Shares
Guidelines Concerning the Trading of Financing Stocks
Guidelines Concerning the Trading on the Financial Accounting Date
Guidelines Concerning Syndicate Cover Transactions
Guidelines Concerning Close-price Guaranteed Transactions, etc.