Article 66-14-2Limitation on Intermediation for the Purchase and Sale of Securities for Professional Investors
第六十六条の十四の二（特定投資家向け有価証券の売買の媒介等の制限）
A financial instruments intermediary service provider must not conduct any of the acts specified in Article 2, paragraph (11), item (i) or (ii) in connection with securities for professional investors with a general investor (meaning a person other than a professional investor, etc., the issuer of the securities for professional investors, or any other person specified by Cabinet Office Order; hereinafter the same applies in this Article) as the other party; provided, however, that this does not apply in a case in which disclosure has been made with regard to the securities for professional investors, a case in which the financial instruments intermediary service provider intermediates, a purchase for an entrusting financial instruments business operator, etc. which is not based on a solicitation of general investors, or any other case specified by Cabinet Office Order as having little likelihood of resulting in insufficient investor protection.
金融商品仲介業者は、特定投資家向け有価証券について、一般投資家（特定投資家等、当該特定投資家向け有価証券の発行者その他内閣府令で定める者以外の者をいう。以下この条において同じ。）を相手方として、第二条第十一項第一号又は第二号に掲げる行為を行つてはならない。ただし、当該特定投資家向け有価証券に関して開示が行われている場合、一般投資家に対する勧誘に基づかないで所属金融商品取引業者等のために買付けの媒介を行う場合その他投資者の保護に欠けるおそれが少ない場合として内閣府令で定める場合は、この限りでない。
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(Definitions)
intermediation for the purchase and sale of securities (excluding intermediation set forth in paragraph (8), item (x));
有価証券の売買の媒介（第八項第十号に掲げるものを除く。）
Open this provision(Definitions)
the intermediation set forth in paragraph (8), item (iii);
第八項第三号に規定する媒介
Open this provision(Limitation on Intermediation for the Purchase and Sale of Securities for Professional Investors)
A financial instruments intermediary service provider must not conduct any of the acts specified in Article 2, paragraph (11), item (i) or (ii) in connection with securities for professional…
金融商品仲介業者は、特定投資家向け有価証券について、一般投資家（特定投資家等、当該特定投資家向け有価証券の発行者その他内閣府令で定める者以外の者をいう。以下この条において同じ。）を相手方として、第二条第十一項第一号又は第二号に掲げる行為を行つてはならない。
Open this provisionprofessional investor, etc.machine translation
「特定投資家等」
A professional investor (特定投資家), or a non-resident (非居住者) as defined in Article 6, paragraph (1), item (vi) of the Foreign Exchange and Foreign Trade Act who is of a kind a Cabinet Order (政令) specifies.
Defined inArticle 2, paragraph (3), item (ii), (b), (2)
issuer
「発行者」
A person who issues or intends to issue securities, or for securities a Cabinet Office Order (内閣府令) specifies, the person it specifies; for rights treated as securities under Article 2, paragraph (2), the person a Cabinet Office Order specifies for each kind of right is treated as issuing them, at the time it specifies.
Defined inArticle 2, paragraph (5)
financial instruments intermediary service provider
「金融商品仲介業者」
A person registered by the Prime Minister under Article 66 to carry on financial instruments intermediary service (金融商品仲介業).
Defined inArticle 2, paragraph (12)· applies throughout the law
securities for professional investorsmachine translation
「特定投資家向け有価証券」
Securities whose solicitation for acquisition was one only for professional investors (特定投資家向け取得勧誘), or whose solicitation for selling, etc. was one only for professional investors; securities of the same kind from the same issuer as a Cabinet Office Order (内閣府令) sets, and specified listed securities (特定上場有価証券) and securities a Cabinet Order (政令) specifies as circulating similarly — other than securities under any item of Article 24, paragraph (1) and securities a Cabinet Order specifies as unlikely to be held by many professional investors.
Short name set inArticle 4, paragraph (3)
case in which disclosure has been mademachine translation
「開示が行われている場合」
In Chapter II and in Articles 40-4, 40-5, paragraph (1) and 66-14-2, a case in which disclosure has been made as Article 4, paragraph (7) defines it: where a notification under Article 4, paragraph (1), (2) or (3) for an earlier public offering, secondary distribution or general solicitation of the same securities has taken effect (unless the issuer is exempt from filing annual securities reports under the proviso to Article 24, paragraph (1)), or a case a Cabinet Office Order (内閣府令) treats as equivalent.
Defined inArticle 40-4, paragraph (1)· applies only in this provision and in Article 40-5, paragraph (1); and Article 66-14-2
entrusting financial instruments business operator, etc.
「所属金融商品取引業者等」
In Chapter III-2 (financial instruments intermediary service providers) and Chapter IV, the financial instruments business operator (金融商品取引業者) engaged in type-I financial instruments business or investment management business, or the registered financial institution (登録金融機関), that entrusts a financial instruments intermediary service provider (金融商品仲介業者) to act for it.
Short name set inArticle 66-2, paragraph (1), item (iv)· applies only in this chapter and in Chapter 4
general investor
「一般投資家」
Anyone other than a professional investor, etc. (特定投資家等), the issuer of the securities concerned and others a Cabinet Office Order (内閣府令) specifies.
Defined inArticle 66-14-2, paragraph (1)· applies only in this article