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Read the text in force →金融商品取引法
Chapter VIII Penal Provisions (Article 197)
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.
If any of the following items applies, the person that has committed the violation is subject to punishment by imprisonment for not more than 10 years, a fine of not more than ten million yen, or both:
次の各号のいずれかに該当する場合には、当該違反行為をした者は、十年以下の拘禁刑若しくは千万円以下の罰金に処し、又はこれを併科する。
when the person submits a statement or other documents under Article 5 (including as applied mutatis mutandis pursuant to Article 27) (including any reference document for the statement, if it is a statement to which the provisions of Article 5, paragraph (4) apply); an amended statement under Article 7, paragraph (1); Article 9, paragraph (1); or Article 10, paragraph (1) (including as applied mutatis mutandis pursuant to Article 27) (including any reference document for that amended statement); a shelf registration statement under Article 23-3, paragraph (1) or (2) (including as applied mutatis mutandis pursuant to Article 27) (including any reference document for that shelf registration statement) and documents attached to it; an amended shelf registration statement under Article 23-4; Article 23-9, paragraph (1); or Article 23-10, paragraph (1); or under Article 23-10, paragraph (1) as applied mutatis mutandis pursuant to paragraph (5) of that Article (including as applied mutatis mutandis pursuant to Article 27) (including any reference document for that amended shelf registration statement); a shelf registration supplement under Article 23-8, paragraph (1) or (5) (including as applied mutatis mutandis pursuant to Article 27) (including any reference document for that shelf registration supplement) and documents attached to it; or an annual securities report under Article 24, paragraph (1) or (3) (including as applied mutatis mutandis pursuant to Article 24, paragraph (5) (including as applied mutatis mutandis pursuant to Article 27) or Article 27) or Article 24-2, paragraph (1) (including as applied mutatis mutandis pursuant to Article 27) or its amended report, that contains a false statement about a material particular;
第五条（第二十七条において準用する場合を含む。）の規定による届出書類（第五条第四項の規定の適用を受ける届出書の場合には、当該届出書に係る参照書類を含む。）、第七条第一項、第九条第一項若しくは第十条第一項（これらの規定を第二十七条において準用する場合を含む。）の規定による訂正届出書（当該訂正届出書に係る参照書類を含む。）、第二十三条の三第一項及び第二項（これらの規定を第二十七条において準用する場合を含む。）の規定による発行登録書（当該発行登録書に係る参照書類を含む。）及びその添付書類、第二十三条の四、第二十三条の九第一項若しくは第二十三条の十第一項の規定若しくは同条第五項において準用する同条第一項（これらの規定を第二十七条において準用する場合を含む。）の規定による訂正発行登録書（当該訂正発行登録書に係る参照書類を含む。）、第二十三条の八第一項及び第五項（これらの規定を第二十七条において準用する場合を含む。）の規定による発行登録追補書類（当該発行登録追補書類に係る参照書類を含む。）及びその添付書類又は第二十四条第一項若しくは第三項（これらの規定を同条第五項（第二十七条において準用する場合を含む。）及び第二十七条において準用する場合を含む。）若しくは第二十四条の二第一項（第二十七条において準用する場合を含む。）の規定による有価証券報告書若しくはその訂正報告書であつて、重要な事項につき虚偽の記載のあるものを提出したとき。
when the person makes a false representation about a material particular in issuing a public notice or making a disclosure, under Article 27-3, paragraph (1) (including as applied mutatis mutandis pursuant to Article 27-22-2, paragraph (2)); Article 27-6, paragraph (2) or (3) (including as applied mutatis mutandis pursuant to Article 27-22-2, paragraph (2)); Article 27-7, paragraph (1) or (2) (including as applied mutatis mutandis pursuant to Article 27-8, paragraph (12) and Article 27-22-2, paragraphs (2) and (6)); Article 27-8, paragraph (8) (including as applied mutatis mutandis pursuant to Article 27-22-2, paragraph (2) and Article 27-22-3, paragraph (4)); Article 27-8, paragraph (11) (including as applied mutatis mutandis pursuant to Article 27-22-2, paragraph (2)); Article 27-10, paragraphs (4) through (6); Article 27-11, paragraph (2) (including as applied mutatis mutandis pursuant to Article 27-22-2, paragraph (2)); or Article 27-13, paragraph (1) (including as applied mutatis mutandis pursuant to Article 27-22-2, paragraph (2));
第二十七条の三第一項（第二十七条の二十二の二第二項において準用する場合を含む。）、第二十七条の六第二項若しくは第三項（これらの規定を第二十七条の二十二の二第二項において準用する場合を含む。）、第二十七条の七第一項若しくは第二項（これらの規定を第二十七条の八第十二項並びに第二十七条の二十二の二第二項及び第六項において準用する場合を含む。）、第二十七条の八第八項（第二十七条の二十二の二第二項及び第二十七条の二十二の三第四項において準用する場合を含む。）、第二十七条の八第十一項（第二十七条の二十二の二第二項において準用する場合を含む。）、第二十七条の十第四項から第六項まで、第二十七条の十一第二項（第二十七条の二十二の二第二項において準用する場合を含む。）又は第二十七条の十三第一項（第二十七条の二十二の二第二項において準用する場合を含む。）の規定による公告又は公表に当たり、重要な事項につき虚偽の表示をしたとき。
when the person submits a tender offer statement under Article 27-3, paragraph (2) (including as applied mutatis mutandis pursuant to Article 27-22-2, paragraph (2)); an amended statement under Article 27-8, paragraphs (1) through (4) (including as applied mutatis mutandis pursuant to Article 27-22-2, paragraph (2)); a written tender offer withdrawal notice under Article 27-11, paragraph (3) (including as applied mutatis mutandis pursuant to Article 27-22-2, paragraph (2)); a tender offer report under Article 27-13, paragraph (2) (including as applied mutatis mutandis pursuant to Article 27-22-2, paragraph (2)); or an amended report under Article 27-8, paragraphs (1) through (4) as applied mutatis mutandis pursuant to Article 27-13, paragraph (3) and Article 27-22-2, paragraph (7), that contains a false statement about a material particular;
第二十七条の三第二項（第二十七条の二十二の二第二項において準用する場合を含む。）の規定による公開買付届出書、第二十七条の八第一項から第四項まで（これらの規定を第二十七条の二十二の二第二項において準用する場合を含む。）の規定による訂正届出書、第二十七条の十一第三項（第二十七条の二十二の二第二項において準用する場合を含む。）の規定による公開買付撤回届出書、第二十七条の十三第二項（第二十七条の二十二の二第二項において準用する場合を含む。）の規定による公開買付報告書又は第二十七条の十三第三項及び第二十七条の二十二の二第七項において準用する第二十七条の八第一項から第四項までの規定による訂正報告書であつて、重要な事項につき虚偽の記載のあるものを提出したとき。
when the person fails to make a disclosure under Article 27-22-3, paragraph (1) or (2), or makes a false disclosure;
第二十七条の二十二の三第一項又は第二項の規定による公表を行わず、又は虚偽の公表を行つたとき。
when the person provides or discloses specified information on securities under Article 27-31, paragraph (2) (if this is specified information on securities to which the provisions of paragraph (3) of that Article apply, including reference information related to that specified information on securities); amended specified information on securities under paragraph (4) of that Article (including reference information related to the amended specified information on securities); information on the issuer under Article 27-32, paragraph (1) or (2); or amended information on the issuer under paragraph (3) of that Article, which contains a false statement about a material particular;
第二十七条の三十一第二項の規定による特定証券情報（同条第三項の規定の適用を受ける特定証券情報の場合には、当該特定証券情報に係る参照情報を含む。）、同条第四項の規定による訂正特定証券情報（当該訂正特定証券情報に係る参照情報を含む。）、第二十七条の三十二第一項若しくは第二項の規定による発行者情報又は同条第三項の規定による訂正発行者情報であつて、重要な事項につき虚偽のあるものの提供又は公表をしたとき。
when the person has, in violation publishes information on specified cryptoassets under the main clause of Article 27-39, paragraph (1) or the main clause of paragraph (2) of that Article 29, conducted financial instruments business without obtaining a registration from , periodic information on specified cryptoassets under Article 27-50, paragraph (1), or amended specified cryptoasset information, etc. pursuant to the Prime Ministerprovisions of Article 27-52 or an order under the provisions of Article 27-57, paragraph (1), relating to information on specified cryptoassets or periodic information on specified cryptoassets, any of which contains a false statement regarding a material particular;
第二十九条の七条の三十九第一項本文若しくは第二項本文の規定による特定暗号資産情報、第二十七条の五十第一項の規定に違反して内閣総理大臣の登録を受けないで金融商品取引業を行つよる特定暗号資産定期情報又は第二十七条の五十二の規定若しくは第二十七条の五十七第一項の規定による命令による特定暗号資産情報若しくは特定暗号資産定期情報に係る訂正特定暗号資産情報等であつて、重要な事項につき虚偽のあるものの公表をしたとき。
when the person has obtained the registration under, in violation of Article 29 by wrongful means, conducted financial instruments business without obtaining a registration from the Prime Minister;
不正の手段により第二十九条の規定に違反して内閣総理大臣の登録を受けないで金融商品取引業を行つたとき。
when the person has, in violation of Article 36-3, had other persons conduct financial instruments business obtained the registration under Article 29 by wrongful means;
第三十六条の三の規定に違反して他人に金融商品取引業を行わせ不正の手段により第二十九条の登録を受けたとき。
when the person has, in violation of Article 36-3, had other persons conduct financial instruments business;
第三十六条の三の規定に違反して他人に金融商品取引業を行わせたとき。
when the person violates the provisions of Article 157, Article 158, or through Article 159 (excluding the cases in which the violation only concerns commodity-related market derivatives transactions); or
第百五十七条、第百五十八条又はから第百五十九条までの規定に違反したとき（当該違反が商品関連市場デリバティブ取引のみに係るものである場合を除く。）。
when the person violates the provisions of Article 185-22, paragraph (1), Article 185-23, paragraph (1), or171-3 through Article 185-24, paragraph (1) or (2).171-5;
第百八十五条の二十二第一項、第百八十五条の二十三第一項又は第百八十五条の二十四第一項若しくは第二項七十一条の三から第百七十一条の五までの規定に違反したとき。
If any of the following items applies, the person that has committed the violation is subject to punishment by imprisonment for not more than ten years and a fine of not more than thirty million yen:
次の各号のいずれかに該当する場合には、当該違反行為をした者は、十年以下の拘禁刑及び三千万円以下の罰金に処する。
when the person, by committing the crime referred to in item (v) of the preceding paragraph and for the purpose of gaining an economic benefit, causes the market price of securities, etc. to fluctuate or pegs their market price, fixes their market price, or causes their market price to stabilize, and makes a purchase and sale or conducts other transactions of securities or derivatives transactions, etc. involving those securities, etc., at the market price that the person has caused to fluctuate or has pegged, fixed, or caused to stabilize (excluding the cases in which the crime only concerns commodity-related market derivatives transactions); or
財産上の利益を得る目的で、前項第五号の罪を犯して有価証券等の相場を変動させ、又はくぎ付けし、固定し、若しくは安定させ、当該変動させ、又はくぎ付けし、固定し、若しくは安定させた相場により当該有価証券等に係る有価証券の売買その他の取引又はデリバティブ取引等を行つたとき（当該罪が商品関連市場デリバティブ取引のみに係るものである場合を除く。）。
when the person, by committing the crime referred to in item (vi) of the preceding paragraph and for the purpose of gaining an economic benefit, causes the market price of crypto-and other assets, etc. to fluctuate, or pegs their market price, fixes their market price, or causes their market price to stabilize, and makes a purchase and sale or conducts other transactions of crypto-and other assets or a cryptoasset-related derivatives transaction, etc. involving those crypto-and other assets, etc., at the market price that the person has caused to fluctuate or has pegged, fixed, or caused to stabilize.
財産上の利益を得る目的で、前項第六号の罪を犯して暗号等資産等の相場を変動させ、又はくぎ付けし、固定し、若しくは安定させ、当該変動させ、又はくぎ付けし、固定し、若しくは安定させた相場により当該暗号等資産等に係る暗号等資産の売買その他の取引又は暗号等資産関連デリバティブ取引等を行つたとき。