A financial instruments business operator, etc. must not perform any of the following acts in connection with the investment management business it conducts; provided, however, that this excludes acts set forth in items (i) and (ii) which are specified by Cabinet Office Order as being unlikely to result in insufficient investor protection, harm the fairness of transactions, or cause the financial instruments business to lose credibility:
making an investment that involves a transaction with the financial instruments business operator, etc. or its director or executive officer;
自己又はその取締役若しくは執行役との間における取引を行うことを内容とした運用を行うこと。
making an investment that involves a transaction being conducted between or among investment properties;
運用財産相互間において取引を行うことを内容とした運用を行うこと。
making an investment in a particular financial instrument, financial index, or option, which involves a transaction being conducted for which there is no justifiable basis, with the aim of using fluctuations in the price, index, figure, or amount receivable based on the transaction, to benefit itself or a third party other than the rights holder;
making an investment that involves a transaction being conducted under terms and conditions that are different from the ordinary terms and conditions, and that are detrimental to the rights holder's interests;
通常の取引の条件と異なる条件で、かつ、当該条件での取引が権利者の利益を害することとなる条件での取引を行うことを内容とした運用を行うこと。
making a purchase and sale or other transaction of securities on its own account using information about a transaction that it has conducted as an investment;
運用として行う取引に関する情報を利用して、自己の計算において有価証券の売買その他の取引等を行うこと。
providing an economic benefit to a rights holder or a third party or having a third party provide an economic benefit to a rights holder or third party, in order to cover the whole or part of a loss that a rights holder has incurred due to a transaction conducted as an investment in investment property, or in order to add to the profit that a rights holder has accrued from a transaction conducted as an investment in investment property (unless this is done to cover the whole or part of a loss incurred due to problematic conduct or a loss caused to the principal of an investment rust specified by Cabinet Office Order as those of which beneficial interest is acquired or held for the purpose of providing it for paying or receiving money in the purchase and sale of securities or any other transactions between the right holder and the financial instruments business operator, etc.); and
beyond what is set forth in the preceding items, any act specified by Cabinet Office Order as resulting in insufficient investor protection, harming the fairness of transactions, or causing a loss of confidence in the financial instruments business.
Read this with the articles around it
(Prohibited Actions)
making an investment that involves a transaction with the financial instruments business operator, etc. or its director or executive officer;
自己又はその取締役若しくは執行役との間における取引を行うことを内容とした運用を行うこと。
Open this provision(Prohibited Actions)
making an investment that involves a transaction being conducted between or among investment properties;
運用財産相互間において取引を行うことを内容とした運用を行うこと。
Open this provision(Prohibited Actions)
making an investment in a particular financial instrument, financial index, or option, which involves a transaction being conducted for which there is no justifiable basis…
特定の金融商品、金融指標又はオプションに関し、取引に基づく価格、指標、数値又は対価の額の変動を利用して自己又は権利者以外の第三者の利益を図る目的をもつて、正当な根拠を有しない取引を行うことを内容とした運用を行うこと。
Open this provision(Prohibited Actions)
making an investment that involves a transaction being conducted under terms and conditions that are different from the ordinary terms and conditions, and that are detrimental to the rights holder's…
通常の取引の条件と異なる条件で、かつ、当該条件での取引が権利者の利益を害することとなる条件での取引を行うことを内容とした運用を行うこと。
Open this provision(Prohibited Actions)
making a purchase and sale or other transaction of securities on its own account using information about a transaction that it has conducted as an investment;
運用として行う取引に関する情報を利用して、自己の計算において有価証券の売買その他の取引等を行うこと。
Open this provision(Prohibited Actions)
providing an economic benefit to a rights holder or a third party or having a third party provide an economic benefit to a rights holder or third party…
運用財産の運用として行つた取引により生じた権利者の損失の全部若しくは一部を補塡し、又は運用財産の運用として行つた取引により生じた権利者の利益に追加するため、当該権利者又は第三者に対し、財産上の利益を提供し…
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
options
「オプション」
A right under a transaction listed in Article 2, paragraph (21), item (iii) made on a financial instruments market (金融商品市場) under the standards and methods of its operator, a right under a similar transaction on a foreign financial instruments market (外国金融商品市場) (other than one involving commodities or indices based on their prices), or a right under a transaction listed in Article 2, paragraph (22), item (iii) or (iv) made off those markets.
Short name set inArticle 2, paragraph (1), item (xix)
financial instruments business
「金融商品取引業」
Carrying on as a business any of the acts listed in Article 2, paragraph (8) — such as trading and brokering securities and derivatives, underwriting, handling public offerings and private placements, giving investment advice, managing investments and holding customers' money or securities — other than acts a Cabinet Order (政令) excludes as posing no risk to investor protection, and certain of those acts when banks, cooperative financial institutions (協同組織金融機関) and other financial institutions a Cabinet Order specifies carry them out.
Defined inArticle 2, paragraph (8)· applies throughout the law
financial instruments
「金融商品」
In this Act, securities (有価証券); deposit claims and other rights, or certificates representing them, that a Cabinet Order (政令) specifies; currencies; cryptoassets, etc. (暗号等資産) as item (iii)-2 of Article 2, paragraph (24) defines them; commodities a Cabinet Order specifies; other assets a Cabinet Order specifies of which many of the same kind exist and whose prices fluctuate widely; and standardized instruments (標準物) that a financial instruments exchange sets to facilitate market derivatives transactions.
Defined inArticle 2, paragraph (24)· applies throughout the law
financial index
「金融指標」
Prices of financial instruments (金融商品), and interest rates, etc. on financial instruments other than currencies and commodities; figures from weather observations published by the Japan Meteorological Agency (気象庁) or others; indicators that cannot practically be influenced and that greatly affect businesses, or socio-economic statistics, that a Cabinet Order (政令) specifies, with exclusions; and figures calculated from any of these.
Defined inArticle 2, paragraph (25)· applies throughout the law
investment management business
「投資運用業」
Investment management business as defined in Article 28, paragraph (4): the part of financial instruments business (金融商品取引業) that consists in carrying on as a business the acts in Article 2, paragraph (8), items (xii), (xiv) and (xv) — managing money or other property, on investment decisions (投資判断) based on an analysis of the value, etc. of financial instruments, as an investment in securities or in rights under derivatives transactions, whether under a discretionary investment contract (投資一任契約) or an asset management contract with a registered investment corporation (登録投資法人), or for the holders of the rights items (xiv) and (xv) list who contributed it — including where a bank, a cooperative financial institution or another financial institution a Cabinet Order (政令) specifies carries them on.
Defined inArticle 28, paragraph (4)· applies only in this chapter
financial instruments business operator, etc.machine translation
「金融商品取引業者等」
A financial instruments business operator (金融商品取引業者) or a registered financial institution (登録金融機関).
Defined inArticle 34, paragraph (1)
investment propertymachine translation
「運用財産」
Money and other property that a financial instruments business operator, etc. (金融商品取引業者等) carrying on investment management business (投資運用業) manages on behalf of rights holders (権利者) under Article 42, paragraph (1).
Defined inArticle 35, paragraph (1), item (xv)
problematic conduct
「事故」
In Sections 2 and 3 of Chapter 3, an illegal or improper act by a financial instruments business operator, etc. (金融商品取引業者等) or its officers or employees that a Cabinet Office Order (内閣府令) specifies as causing a dispute between the business operator and its customer.
Defined inArticle 39, paragraph (3)· applies only in this section and in Chapter 3, Section 3
investment trust
「投資信託」
In Article 39, paragraphs (4) and (6) and Article 42-2, item (vi), an investment trust as defined in Article 2, paragraph (3) of the Act on Investment Trusts and Investment Corporations: a trust set up under that Act to invest mainly in the assets it specifies, whether managed on the settlor's instructions (委託者指図型投資信託) or not (委託者非指図型投資信託).
Defined inArticle 39, paragraph (4)· applies only in this provision and in Article 39, paragraph (6); and Article 42-2, paragraph (1), item (vi)
purchase and sale or other transaction of securities
「有価証券の売買その他の取引等」
A purchase and sale or other transaction of securities, or a derivatives transaction.
Short name set inArticle 41-2, paragraph (1), item (iv)
right holdermachine translation
「権利者」
In the subsection on investment management business that begins with Article 42, the persons for whom that business is carried on: the counterparty to a contract for managing a registered investment corporation's assets or to a discretionary investment contract (投資一任契約); holders of investment trust beneficiary certificates or other rights a Cabinet Order (政令) specifies, whose contributed money is being invested; and holders of trust beneficial interests, partnership-type rights or other rights a Cabinet Order specifies, whose contributed money is being invested mainly in securities or derivatives.
Defined inArticle 42, paragraph (1)· applies only in this subsection
director
取締役
An officer of a stock company, elected by the shareholders meeting (Companies Act, Article 329, paragraph (1)). Every stock company has at least one (Article 326, paragraph (1)). Where there is no board of directors, the directors run the company's business unless the articles of incorporation say otherwise (Article 348, paragraph (1)), and each of them represents it unless the company has chosen representative directors (代表取締役) or others to do that (Article 349, paragraphs (1) and (3)). Where there is a board (取締役会, board of directors), the directors are its members, and the board decides the business and normally chooses the representative directors from among them (Article 362). The term normally runs to the annual shareholders meeting for the last business year ending within two years of election (Article 332, paragraph (1)).
Written by AI using Companies Act, Arts. 326, 329, 332, 348, 349, 362 as a reference.