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Financial Instruments and Exchange Act

金融商品取引法(きんゆうしょうひんとりひきほう)

Chapter VI-2 Administrative Monetary Penalty (Articles 185-8 to 185-10-2)

The law as Act Partially Amending the Financial Instruments and Exchange Act and the Payment Services Act (Act No. 64 of 2026) leaves it, with the words it changes marked.

The main text is read a page at a time: a chapter to a page, and a long chapter in runs of articles. The whole main text, and the supplementary provisions and appended tables this amendment changes. Those it leaves untouched are on the page for the text in force.

Article 185-8第百八十五条の八

Suspension of the Validity of a Decision(決定の効力の停止)
10 changes in this article
Article 185-8, paragraph (1)(決定の効力の停止)(Suspension of the Validity of a Decision)Changed

If, after the decision referred to in paragraph (1) of the preceding Article (limited to a decision connected with Article 178, paragraph (1), item (iv) or (xi), or items (xii) through (xvi); hereinafter the same applies in paragraphs (4), (5), (8), and (11)) or the decision referred to in Article 185-7, paragraph (6), (7), (1012), (1113), or (1416) (but only if the Prime Minister finds a fact set forth in Article 178, paragraph (1), item (iv), (xi), or (xvi) to have occurred; the same applies in paragraphs (4), (5), (8), and (11) of this Article), or Article 185-7, paragraph (1517) (but only if the Prime Minister finds a fact set forth in Article 178, paragraph (1), item (iv) or (xi), or items (xii) through (xvi) to have occurred; the same applies in paragraphs (4), (5), (8), and (11) of this Article) is reached and before the due date for payment in connection with that decision, prosecution is instituted against the person subject to that decision in connection with the same case, the Prime Minister must suspend the validity of the decision until the judicial decision in the same case becomes final and binding; provided, however, that this does not apply if the administrative monetary penalty under that decision has already been paid in full.

前条第一項の決定(第百七十八条第一項第四号、第十一号又は第十二号から第十六号までに係るものに限る。第四項、第五項、第八項及び第十一項において同じ。)又は前条第六項、第七項、第十二項、第十一三項、第十四六項(第百七十八条第一項第四号、第十一号又は第十六号に掲げる事実があると認める場合に限る。第四項、第五項、第八項及び第十一項において同じ。)若しくは第十五七項(第百七十八条第一項第四号、第十一号又は第十二号から第十六号までに掲げる事実があると認める場合に限る。第四項、第五項、第八項及び第十一項において同じ。)の決定の後、当該決定に係る納付期限前に同一事件について当該決定を受けた者に対し公訴の提起があつたときは、内閣総理大臣は、当該事件についての裁判が確定するまでの間、当該決定の効力を停止しなければならない。ただし、当該決定に係る課徴金の全部が納付されているときは、この限りでない。

Article 185-8, paragraph (2)(決定の効力の停止)(Suspension of the Validity of a Decision)Changed

If the validity of the decision referred to in paragraph (1) of the preceding Article (limited to a decision connected with Article 178, paragraph (1), item (iv) or (xi); hereinafter the same applies in paragraph (6)) or the validity of the decision referred to in Article 185-7, paragraph (6), (7), (1012), (1113), or (1416) (but only if the Prime Minister finds a fact set forth in Article 178, paragraph (1), item (iv) or (xi) to have occurred; the same applies in paragraph (6) of this Article), or Article 185-7, paragraph (1517) (but only if the Prime Minister finds a fact set forth in Article 178, paragraph (1), item (iv) or (xi) to have occurred; the same applies in paragraph (6) of this Article) is suspended pursuant to the main clause of the preceding paragraph, and the final and binding judicial decision in the case imposes a fine on the person subject to that decision, the Prime Minister must suspend the validity of the decision until the electronic or magnetic record concerning a disposition for changes under paragraph (6) is served.

前項本文の規定により前条第一項の決定(第百七十八条第一項第四号又は第十一号に係るものに限る。第六項において同じ。)又は前条第六項、第七項、第十二項、第十一三項、第十四六項(第百七十八条第一項第四号又は第十一号に掲げる事実があると認める場合に限る。第六項において同じ。)若しくは第十五七項(第百七十八条第一項第四号又は第十一号に掲げる事実があると認める場合に限る。第六項において同じ。)の決定の効力が停止された場合において、当該事件について、当該決定を受けた者に対し、罰金の確定裁判があつたときは、内閣総理大臣は、第六項の規定による変更の処分に係る電磁的記録が送達されるまでの間、当該決定の効力を停止しなければならない。

Article 185-8, paragraph (3)(決定の効力の停止)(Suspension of the Validity of a Decision)Changed

If the validity of the decision referred to in Article 185-7, paragraph (1) (limited to a decision connected with any of Article 178, paragraph (1), items (xii) through (xvi); the same applies in paragraph (7) of this Article), Article 185-7, paragraph (1416) (but only if the Prime Minister finds a fact set forth in Article 178, paragraph (1), item (xvi) to have occurred; the same applies in paragraph (7) of this Article), or Article 185-7, paragraph (1517) (but only if the Prime Minister finds a fact set forth in any of Article 178, paragraph (1), items (xii) through (xvi) to have occurred; the same applies in paragraph (7) of this Article) is suspended pursuant to the main clause of paragraph (1), and the final and binding judicial decision in the case imposes a confiscation of the properties set forth in the items of Article 198-2, paragraph (1) or the collection of the value of the properties set forth in the items of Article 198-2, paragraph (1) against the person subject to the decision, the Prime Minister must suspend the validity of the decision until the electronic or magnetic record concerning a disposition for changes under paragraph (7) is served.

第一項本文の規定により前条第一項の決定(第百七十八条第一項第十二号から第十六号までに係るものに限る。第七項において同じ。)又は前条第十四六項(同号に掲げる事実があると認める場合に限る。第七項において同じ。)若しくは第十五七項(第百七十八条第一項第十二号から第十六号までに掲げる事実があると認める場合に限る。第七項において同じ。)の決定の効力が停止された場合において、当該事件について、当該決定を受けた者に対し、第百九十八条の二第一項各号に掲げる財産の没収又は同項各号に掲げる財産の価額の追徴の確定裁判があつたときは、内閣総理大臣は、第七項の規定による変更の処分に係る電磁的記録が送達されるまでの間、当該決定の効力を停止しなければならない。

Article 185-8, paragraph (4)(決定の効力の停止)(Suspension of the Validity of a Decision)Changed

Notwithstanding the provisions of paragraph (2123) of the preceding Article, if the validity of the decision referred to in paragraph (1), (6), (7), (1012), (1113), (1416) or (1517) of that Article is suspended pursuant to the provisions of paragraph (1), the due date for the administrative monetary penalty payment is the day on which two months have elapsed since the day that the judicial decision in the case becomes final and binding.

第一項の規定により前条第一項、第六項、第七項、第十二項、第十一三項、第十四六項又は第十五七項の決定の効力が停止された場合においては、課徴金の納付期限は、同条第二十一三項の規定にかかわらず、当該事件についての裁判が確定した日から二月を経過した日とする。

Article 185-8, paragraph (5)(決定の効力の停止)(Suspension of the Validity of a Decision)Changed

Notwithstanding the provisions of paragraph (2123) of the preceding Article and the preceding paragraph, if the validity of the decision referred to in paragraph (1), (6), (7), (1012), (1113), (1416) or (1517) of that Article is suspended pursuant to the provisions of paragraph (2) or (3) of this Article, the due date for the payment of an administrative monetary penalty is the day on which two months have elapsed since the day that, with regard to the electronic or magnetic record concerning a disposition for changes under the following paragraph or paragraph (7), a document under the provisions of Article 185-10-2 is dispatched or a notice under the provisions of Article 109-2, paragraph (1), main text of the Code of Civil Procedure as applied mutatis mutandis pursuant to Article 185-10 is dispatched.

第二項又は第三項の規定により前条第一項、第六項、第七項、第十二項、第十一三項、第十四六項又は第十五七項の決定の効力が停止された場合においては、課徴金の納付期限は、同条第二十一三項及び前項の規定にかかわらず、次項又は第七項の規定による変更の処分に係る電磁的記録について第百八十五条の十の二の規定による書面を発し、又は第百八十五条の十において準用する民事訴訟法第百九条の二第一項本文の規定による通知を発した日から二月を経過した日とする。

Article 185-8, paragraph (6)(決定の効力の停止)(Suspension of the Validity of a Decision)Changed

After the issuance of the decision referred to in paragraph (1) of the preceding Article or the decision referred to in paragraph (6), (7), (1012), (1113), (1416) or (1517) of that Article, if a final and binding judicial decision in the same case imposes a fine on the person subject to the decision, the Prime Minister must change the amount of the administrative monetary penalty subject to the decision, from the amount under those provisions to the amount equivalent to what is arrived at when the amount set forth in item (ii) is deducted from the amount set forth in item (i), and the difference is divided proportionally in parallel to the amount of the administrative monetary penalty subject to the decision, pursuant to the provisions of Cabinet Office Order; provided however, that this does not apply unless the amount set forth in item (i) exceeds the amount set forth in item (ii):

内閣総理大臣は、前条第一項の決定又は同条第六項、第七項、第十二項、第十一三項、第十四六項若しくは第十五七項の決定の後、同一事件について、当該決定を受けた者に対し、罰金の確定裁判があつたときは、当該決定に係る課徴金の額を、これらの規定による額から、第一号に掲げる額から第二号に掲げる額を控除した額を内閣府令で定めるところにより当該決定に係る課徴金の額に応じて按分して得た額に相当する額に変更しなければならない。ただし、第一号に掲げる額が第二号に掲げる額を超えないときは、この限りでない。

Article 185-8, paragraph (6), item (i)(決定の効力の停止)

the sum of the amounts of the administrative monetary penalty subject to the relevant decisions;

当該決定に係る課徴金の額を合計した額

Article 185-8, paragraph (6), item (ii)(決定の効力の停止)

the amount of the fine.

当該罰金の額

Article 185-8, paragraph (7)(決定の効力の停止)(Suspension of the Validity of a Decision)Changed

After the decision referred to in paragraph (1), (1416), or (1517) of the preceding Article, if the final and binding judicial decision in the same case imposes a confiscation of the properties set forth in the items of Article 198-2, paragraph (1) or the collection of the value of the properties set forth in the items of Article 198-2, paragraph (1) against the person subject to the decision, the Prime Minister must change the amount of the administrative monetary penalty subject to the decision referred to in paragraph (1), (1416), or (1517) of the preceding Article, to the amount arrived at when the amount set forth in item (ii) is deducted from the amount set forth in item (i); provided, however, this does not apply unless the amount set forth in item (i) exceeds the amount set forth in item (ii):

内閣総理大臣は、前条第一項の決定又は同条第十四六項若しくは第十五七項の決定の後、同一事件について、当該決定を受けた者に対し、第百九十八条の二第一項各号に掲げる財産の没収又は同項各号に掲げる財産の価額の追徴の確定裁判があつたときは、前条第一項の決定又は同条第十四六項若しくは第十五七項の決定に係る課徴金の額を、第一号に掲げる額から第二号に掲げる額を控除した額に変更しなければならない。ただし、第一号に掲げる額が、第二号に掲げる額を超えないときは、この限りでない。

Article 185-8, paragraph (7), item (i)(決定の効力の停止)(Suspension of the Validity of a Decision)Changed

the amount specified in the provisions of Article 173, paragraph (1), Article 174, paragraph (1), Article 174-2, paragraph (1), Article 174-3, paragraph (1), Article 175, paragraph (1) (including as applied mutatis mutandis pursuant to paragraph (9) of that Article) or paragraph (2) of that Article, or Article 185-7, paragraph (1416) or (1517);

第百七十三条第一項、第百七十四条第一項、第百七十四条の二第一項、第百七十四条の三第一項若しくは第百七十五条第一項(同条第九項において準用する場合を含む。)若しくは第二項又は前条第十四六項若しくは第十五七項の規定による額

Article 185-8, paragraph (7), item (ii)(決定の効力の停止)

the amount equivalent to the properties set forth in the items of Article 198-2, paragraph (1) whose confiscation is ordered in the judicial decision, or the amount equivalent to the values of the properties set forth in the items of Article 198-2, paragraph (1) whose collection is ordered in the judicial decision (if both the confiscation of the properties set forth in the items of Article 198-2, paragraph (1) and the collection of the value of the properties set forth in the items of Article 198-2, paragraph (1) are ordered in the judicial decision, this means the sum total of the amount equivalent to the properties set forth in the items of Article 198-2, paragraph (1) whose confiscation is ordered in the judicial decision and the amount equivalent to the values of the properties set forth in the items of Article 198-2, paragraph (1) whose collection is ordered in the judicial decision).

当該裁判において没収を命じられた第百九十八条の二第一項各号に掲げる財産に相当する額又は当該裁判において追徴を命じられた同項各号に掲げる財産の価額に相当する額(当該裁判において同項各号に掲げる財産の没収及び同項各号に掲げる財産の価額の追徴が命じられたときは、当該裁判において没収を命じられた同項各号に掲げる財産に相当する額及び当該裁判において追徴を命じられた同項各号に掲げる財産の価額に相当する額の合計額)

Article 185-8, paragraph (8)(決定の効力の停止)(Suspension of the Validity of a Decision)Changed

In a case as referred to in the proviso to paragraph (6) or the proviso to the preceding paragraph, the Prime Minister must rescind the decision referred to in paragraph (1), (6), (7),(10 (12), (1113), (1416) or (1517) of the preceding Article.

第六項ただし書又は前項ただし書の場合においては、内閣総理大臣は、前条第一項、第六項、第七項、第十二項、第十一三項、第十四六項又は第十五七項の決定を取り消さなければならない。

Article 185-8, paragraph (9)(決定の効力の停止)

When the Prime Minister has made a disposition for changes under paragraph (6) or (7), the Prime Minister must, as provided by Cabinet Office Order, record the electronic or magnetic record pertaining to that disposition in the file.

内閣総理大臣は、第六項又は第七項の規定による変更の処分をした場合においては、内閣府令で定めるところにより、当該処分に係る電磁的記録をファイルに記録しなければならない。

Article 185-8, paragraph (10)(決定の効力の停止)

A disposition for changes under paragraph (6) or (7) becomes effective through the service of the electronic or magnetic record concerning that disposition.

第六項又は第七項の規定による変更の処分は、当該処分に係る電磁的記録を送達することによつて、その効力を生ずる。

Article 185-8, paragraph (11)(決定の効力の停止)(Suspension of the Validity of a Decision)Changed

Prescription of a claim involvingfor an administrative monetary penalty does not run while the validity of the decision referred to in paragraph (1), paragraph (6), paragraph (7), paragraph (1012), paragraph (1113), paragraph (1416), or paragraph (1517) of the preceding Article is suspended pursuant to the provisions of paragraphs (1) through (3).

課徴金に係る請求権の時効は、第一項から第三項までの規定により前条第一項、第六項、第七項、第十二項、第十一三項、第十四六項又は第十五七項の決定の効力が停止されている間は、進行しない。

Article 185-8, paragraph (12)(決定の効力の停止)

If the amount of an administrative monetary penalty calculated pursuant to the provisions of paragraph (6) includes an amount that is less than one yen, the amount is rounded down to the nearest one yen.

第六項の規定により計算した課徴金の額に一円未満の端数があるときは、その端数は、切り捨てる。

Article 185-9第百八十五条の九

Documents, etc. to Be Served(送達書類等)
Article 185-9, paragraph (1)

The documents or electronic or magnetic records that are required to be served other than those prescribed in this section are specified by Cabinet Office Order.

送達すべき書類又は電磁的記録は、この節に規定するもののほか、内閣府令で定める。

Article 185-10第百八十五条の十

Application, Mutatis Mutandis of Provisions of Code of Civil Procedure Concerning Service(民事訴訟法の送達に係る規定の準用)
Article 185-10, paragraph (1)

The provisions of Articles 99 through 101 and Articles 102-2 through 109-4 of the Code of Civil Procedure apply mutatis mutandis to the service of documents or electronic or magnetic records. In this case, in these provisions, the term "the court in charge of the case" is deemed to be replaced with "the Prime Minister or a trial examiner"; in Article 100, paragraph (1) of that Code, the term "the court" is deemed to be replaced with "the Prime Minister or a trial examiner"; in paragraph (2) of that Article, the term "the Rules of the Supreme Court" is deemed to be replaced with "Cabinet Office Order", the phrase "the court's computer files" is deemed to be replaced with "the file (meaning the file prescribed in Article 179, paragraph (1) of the Financial Instruments and Exchange Act; the same applies in Article 109)", and the phrase "the paper document referred to in that paragraph" is deemed to be replaced with "the paper document referred to in the preceding paragraph"; in Article 101, paragraph (1) of that Code, the term "a court enforcement officer" is deemed to be replaced with "an official who handles the affairs of trial procedures"; in Article 104, paragraph (1) of that Code, the phrase "party, legal representative, or litigation representative" is deemed to be replaced with "respondent or representative of the respondent"; in Article 107, paragraph (1) of that Code, the term "the court clerk" is deemed to be replaced with "an official who handles the affairs of trial procedures"; in item (iii) of that paragraph, the term "the case record" is deemed to be replaced with "the record of the case"; in Article 108 of that Code, the term "the presiding judge" is deemed to be replaced with "the Prime Minister or the chief trial examiner (or a trial examiner, in the case of the proviso to Article 180, paragraph (1) of the Financial Instruments and Exchange Act)"; in Article 109-2, paragraphs (1) and (2) and Article 109-3, paragraph (1), item (i) of that Code, the term "the Rules of the Supreme Court" is deemed to be replaced with "Cabinet Office Order"; and in Article 109-4, paragraph (1) of that Code, the phrase "a person stated in the items of Article 132-11, paragraph (1)" is deemed to be replaced with "a representative (limited to a person who is an attorney-at-law, legal professional corporation, or attorney-at-law and registered foreign lawyer joint corporation)" and the phrase "the provisions of Article 109-2, paragraph (1)" is deemed to be replaced with "the provisions of that paragraph".

書類又は電磁的記録の送達については、民事訴訟法第九十九条から第百一条まで及び第百二条の二から第百九条の四までの規定を準用する。この場合において、これらの規定中「受訴裁判所」とあるのは「内閣総理大臣又は審判官」と、同法第百条第一項中「裁判所」とあるのは「内閣総理大臣又は審判官」と、同条第二項中「最高裁判所規則」とあるのは「内閣府令」と、「ファイル」とあるのは「ファイル(金融商品取引法第百七十九条第一項に規定するファイルをいう。第百九条において同じ。)」と、「同項の書面」とあるのは「前項の書面」と、同法第百一条第一項中「執行官」とあるのは「審判手続の事務を行う職員」と、同法第百四条第一項中「当事者、法定代理人又は訴訟代理人」とあるのは「被審人又はその代理人」と、同法第百七条第一項中「裁判所書記官」とあるのは「審判手続の事務を行う職員」と、同項第三号中「訴訟記録」とあるのは「事件記録」と、同法第百八条中「裁判長」とあるのは「内閣総理大臣又は審判長(金融商品取引法第百八十条第一項ただし書の場合にあっては、審判官)」と、同法第百九条の二第一項及び第二項並びに第百九条の三第一項第一号中「最高裁判所規則」とあるのは「内閣府令」と、同法第百九条の四第一項中「第百三十二条の十一第一項各号に掲げる者」とあるのは「代理人(弁護士、弁護士法人又は弁護士・外国法事務弁護士共同法人である者に限る。)」と、「第百九条の二第一項の」とあるのは「同項の」と読み替えるものとする。

Article 185-10-2第百八十五条の十の二

Special Provisions on Service of Electronic or Magnetic Records Pertaining to Decisions, etc. to Issue Administrative Monetary Penalty Payment Orders(課徴金納付命令の決定等に係る電磁的記録の送達の特則)
1 change in this article
Article 185-10-2, paragraph (1)(課徴金納付命令の決定等に係る電磁的記録の送達の特則)Special Provisions on Service of Electronic or Magnetic Records Pertaining to Decisions, etc. to Issue Administrative Monetary Penalty Payment OrdersChanged

Service under the provisions of Article 185-7, paragraph (2224) and Article 185-8, paragraph (10) is made, notwithstanding the provisions of Article 109 of the Code of Civil Procedure as applied mutatis mutandis pursuant to the preceding Article, by means of either a document stating the particulars recorded in the electronic or magnetic record pertaining to the decision prescribed in Article 185-7, paragraph (1921) or the electronic or magnetic record pertaining to a disposition for changes under Article 185-8, paragraph (6) or (7), the content of which a staff member who handles the affairs of trial procedures has certified, by the method specified by Cabinet Office Order, to be identical to the particulars recorded in those electronic or magnetic records, or the method under the provisions of the main text of Article 109-2, paragraph (1) of that Act as applied mutatis mutandis pursuant to the preceding Article (limited to a case in which service may be made under that paragraph).

第百八十五条の七第二十二四項及び第百八十五条の八第十項の規定による送達は、前条において準用する民事訴訟法第百九条の規定にかかわらず、第百八十五条の七第十九二十一項に規定する決定に係る電磁的記録若しくは第百八十五条の八第六項若しくは第七項の規定による変更の処分に係る電磁的記録に記録されている事項を記載した書面であつて審判手続の事務を行う職員が内閣府令で定める方法により当該書面の内容がこれらの電磁的記録に記録されている事項と同一であることを証明したもの又は前条において準用する同法第百九条の二第一項本文の規定による方法(同項の規定により送達をすることができる場合に限る。)により行う。

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