Article 27-34-2Compensatory Liability of a Violator in Connection with Foreign Securities Information
第二十七条の三十四の二(外国証券情報に係る違反行為者の賠償責任)
A financial instruments business operator, etc. that violates the provisions of Article 27-32-2, paragraph (1) in selling securities is liable to compensate a person that purchases those securities, for damage arising from the violation.
第二十七条の三十二の二第一項の規定に違反して有価証券を売り付けた金融商品取引業者等は、これを買い付けた者に対し当該違反行為により生じた損害を賠償する責めに任ずる。
A financial instruments business operator, etc. that sells securities through a secondary distribution of foreign securities, using foreign securities information that contains false information regarding a material particular, lacks information about a material particular that is required to be provided or disclosed, or lacks information concerning a material fact that is necessary to prevent it from being misleading, is liable to compensate for damage sustained by a person that purchases the relevant securities without knowing that the information is false or has been omitted; provided, however, that this does not apply if the financial instruments business operator, etc. that would be liable for such compensation proves that it did not know, and in the exercise of reasonable care could not have known, that the information was false or had been omitted.
If foreign securities information that is disclosed pursuant to the provisions of Article 27-32-2, paragraph (3) (hereinafter referred to as "disclosed information" in this paragraph) contains false information about a material particular, lacks information about a material particular that is required to be provided or disclosed, or lacks information concerning a material fact that is necessary to prevent it from being misleading, the financial instruments business operator, etc. that discloses the disclosed information is liable to compensate a person that, without knowing that the information is false or has been omitted, acquires or disposes of securities to which the disclosed information pertains from the financial instruments business operator other than through a public offering or secondary distribution or exclusive solicitation for acquisition, etc., during the period in which the disclosed information is being disclosed pursuant to paragraph (3) of that Article, for damage arising from the information being false or having been omitted; provided, however, that this does not apply if the financial instruments business operator, etc. that would be liable for such damages proves that it did not know, and in the exercise of reasonable care could not have known, that the information was false or had been omitted.
外国証券情報であつて第二十七条の三十二の二第三項の規定により公表されたもの(以下この項において「公表情報」という。)のうちに、重要な事項について虚偽の情報があり、又は提供し、若しくは公表すべき重要な事項若しくは誤解を生じさせないために必要な重要な事実に関する情報が欠けているときは、当該公表情報を公表した金融商品取引業者等は、当該公表情報が同条第三項の規定により公表されている間に情報が虚偽であり、又は欠けていることを知らないで当該金融商品取引業者等から当該公表情報に係る有価証券を募集若しくは売出し若しくは特定勧誘等によらないで取得した者又は処分した者に対し、情報が虚偽であり、又は欠けていることにより生じた損害を賠償する責めに任ずる。ただし、賠償の責めに任ずべき金融商品取引業者等が、情報が虚偽であり、又は欠けていることを知らず、かつ、相当な注意を用いたにもかかわらず知ることができなかつたことを証明したときは、この限りでない。
Read this with the articles around it
(Provision or Disclosure of Foreign Securities Information)
If a financial instruments business operator, etc. sells securities through a secondary distribution of securities falling under Article 4, paragraph (1)…
金融商品取引業者等は、第四条第一項第四号に該当する有価証券の売出し(以下「外国証券売出し」という。)により有価証券を売り付ける場合には、当該有価証券及び当該有価証券の発行者に関する情報として内閣府令で定める情報(以下「外国証券情報」という。)をあらかじめ又は同時に、その相手方に提供し、又は公表しなければならない。
Open this provision(Provision or Disclosure of Foreign Securities Information)
A financial instruments business operator, etc. seeking to provide or disclose foreign securities information pursuant to the preceding two paragraphs must provide the foreign securities information…
前二項の規定により外国証券情報の提供又は公表をしようとする金融商品取引業者等は、当該外国証券情報を、内閣府令で定めるところにより、自ら若しくは他の者に委託して提供し、又はインターネットの利用その他の方法により公表しなければならない。
Open this provision(Compensatory Liability of a Violator in Connection with Foreign Securities Information)
If foreign securities information that is disclosed pursuant to the provisions of Article 27-32-2, paragraph (3) (hereinafter referred to as "disclosed information" in this paragraph) contains false…
外国証券情報であつて第二十七条の三十二の二第三項の規定により公表されたもの(以下この項において「公表情報」という。)のうちに、重要な事項について虚偽の情報があり、又は提供し、若しくは公表すべき重要な事項若しくは誤解を生じさせないために必要な重要な事実に関する情報が欠けているときは…
Open this provisionsecurities
「有価証券」
Securities as this Act defines them: the instruments listed in Article 2, paragraph (1), among them national government and local government bonds, corporate bonds, share certificates and share option certificates, preferred equity investment certificates, beneficiary certificates of investment trusts and other trusts, investment securities, certain promissory notes, mortgage securities, option certificates and depositary receipts, foreign instruments of the same nature, and other instruments a Cabinet Order (政令) specifies.
Defined inArticle 2, paragraph (1)· applies throughout the law
financial instruments business operator, etc.machine translation
「金融商品取引業者等」
In Article 2, paragraphs (3) and (4), Article 4, paragraph (1), item (iv) and paragraph (3), Article 27-32-2 and Article 27-34-2, a financial instruments business operator (金融商品取引業者) or a registered financial institution (登録金融機関), as Article 34 defines the term.
Defined inArticle 2, paragraph (3), item (ii), (b), (1)· applies only in this provision and in Article 2, paragraph (4); Article 4, paragraph (1), item (iv); Article 4, paragraph (3); and Articles 27-32-2 and 27-34-2
secondary distribution of foreign securities
「外国証券売出し」
A secondary distribution of securities falling under Article 4, paragraph (1), item (iv): a sale by a financial instruments business operator, etc. of securities already issued abroad, or similar securities a Cabinet Order (政令) specifies, that meets requirements a Cabinet Order sets, such as price information being easily available in Japan.
Short name set inArticle 27-32-2, paragraph (1)
foreign securities information
「外国証券情報」
Information on the securities sold in a secondary distribution of foreign securities (外国証券売出し) and on their issuer, as a Cabinet Office Order (内閣府令) specifies, which the financial instruments business operator, etc. must give the buyer, or publish, beforehand or at the same time.
Short name set inArticle 27-32-2, paragraph (1)
specified solicitation, etc.machine translation
「特定勧誘等」
An exclusive solicitation for acquisition (特定取得勧誘) or a specified solicitation for selling, etc. (特定売付け勧誘等): a solicitation only for professional investors, or another solicitation a Cabinet Order (政令) specifies, that is not subject to the notification requirements of Article 4 and for which the issuer must provide or publish specified information on securities (特定証券情報) by the time it is made.
Defined inArticle 27-34, paragraph (1)
disclosed information
「公表情報」
In Article 27-34-2, paragraph (3), foreign securities information (外国証券情報) published under Article 27-32-2, paragraph (3).
Short name set inArticle 27-34-2, paragraph (3)· applies only in this paragraph