Disclosure details -

Financial Services Agency

Year 2000Regulated by Government

The Financial Services Agency (FSA) oversees all financial services providers, including Forex brokers, in Japan. The ultimate aim of Japan's FSA is to maintain the country’s financial system and ensure its stability. It is also responsible for protecting security investors, insurance policyholders, and depositors. It achieves its aims in a number of different ways including planning and policy making, supervising financial services providers, overseeing securities transactions, and inspecting financial institutions in the private sector. When the FSA was first created it was merely an administrative body. However, its responsibilities were widened in 2001 when it became the external representative of the Cabinet Office of Japan. It took over the responsibilities of the Financial Reconstruction Committee, and also took over responsibility for failed financial institutions.Today, the FSA Japan is held accountable to the Japanese Minister of Finance and enjoys a wide scope of responsibility.

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Warning Verbal warning

au Kabucom Securities

Disclosure summary

Disclosure matching Supervision number matching
Disclosure time 2003-04-04
Reason for punishment Acts of failing to verify the identity of transactions suspected of impersonation

Disclosure details

Administrative action against kabu.com Securities Co., Ltd.

April 4, 2003 Financial Services Agency Administrative actions against kabu.com Securities Co., Ltd. 1. As a result of an inspection by the Securities and Exchange Surveillance Commission of kabu.com Securities, the following legal violations were found and a recommendation was made to seek administrative action (opens in a new window on March 28, 2003) . ○ Acts of not verifying the identity of transactions suspected of being impersonated. Despite the suspicion that the orderer is pretending to be the holder of the transaction, the order was accepted and executed without verification of identity. The above acts are prohibited by Article 3, Paragraph 1, Item 29 of the Act for Enforcement of the Law Concerning Identity Verification, etc. of Customers by Financial Institutions, etc. It falls under the act of not verifying the identity of customers when conducting such transactions, and is deemed to violate Article 3, Paragraph 1 of the Act on Identity Verification, etc. of Customers, etc. by Financial Institutions, etc. 2. Based on the above, the following administrative actions were taken today against kabu.com Securities Co., Ltd. based on the provisions of Article 9 of the Act on Customer Identity Verification by Financial Institutions, etc. (1) Correction order ○ Correction of the violation. ○ Clarification of responsibility. ○ Thorough awareness of legal compliance among executives and employees. ○ Build a customer management system that includes thorough identity verification. ○ Comprehensive inspection of internal management rules such as customer management regulations. (2) Report in writing by May 6, 2003 on the status of response to (1) above.

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