Tokyo Stock Exchange, Inc. (TSE) and Osaka Exchange, Inc. (OSE) have taken disciplinary action against SBI SECURITIES Co., Ltd.
The Exchanges have requested that the company submit a business improvement report.
TSE has imposed a JPY 100 million fine on the company pursuant to the provisions of Rule 34, Paragraph 1, Item (8) of TSE Trading Participant Regulations.
OSE has imposed a censure pursuant to the provisions of Rule 42, Paragraph 1, Item (10) of OSE Trading Participant Regulations.
The reason for the actions is that the company has accepted orders from customers to purchase listed financial instruments on the financial instruments exchange market while knowing that causing fluctuation of market prices of said listed financial instruments, etc., will result in artificial price formation out…
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