Article 155-3Examination Criteria for Authorization

一the applicant for authorization is a person for whom the period specified by Cabinet Order after the establishment of the foreign financial instruments market for having participants in the foreign financial instruments exchange conduct foreign market transactions has not passed (unless this falls under a case specified by Cabinet Order);

二the applicant for authorization is a person that has been sentenced to a fine (including an equivalent sentence under foreign laws and regulations) for violating the provisions of this Act or the Act on the Provision of Financial Services and the Development of the Accessible Environment Thereto or for violating the provisions of a foreign law or regulation that is equivalent to one of these Acts, and five years have not passed since the day on which the person finished serving the sentence or ceased to be subject to its enforcement;

三the applicant for authorization is a person that has had the authorization referred to in Article 155, paragraph (1) rescinded pursuant to the provisions of Article 155-6 or Article 155-10, paragraph (1); a person that has had the license referred to in Article 156-20-2 rescinded pursuant to the provisions of Article 156-20-14, paragraph (1) or (2); a person that has had the registration referred to in Article 29 or Article 33-2 rescinded pursuant to the provisions of Article 52, paragraph (1) or (4), Article 52-2, paragraph (1) or (3), Article 53, paragraph (3), Article 54, or Article 57-6, paragraph (3); a person that has had the permission referred to in Article 60, paragraph (1) rescinded pursuant to the provisions of Article 60-8, paragraph (1) or Article 60-9, paragraph (1); a person that has had the permission referred to in Article 60-14, paragraph (1) rescinded pursuant to the provisions of Article 60-8, paragraph (1) or Article 60-9, paragraph (1) as applied mutatis mutandis pursuant to Article 60-14, paragraph (2); a person that has had the registration referred to in Article 66 rescinded pursuant to the provisions of Article 66-20, paragraph (1); a person that has had the registration referred to in Article 66-27 rescinded pursuant to the provisions of Article 66-42, paragraph (1) or (3); a person that has had the registration referred to in Article 66-50 rescinded pursuant to the provisions of Article 66-63, paragraph (1) or (3) or Article 66-64; or a person that has had the registration referred to in Article 66-71 rescinded pursuant to the provisions of Article 66-85, paragraph (1) or (3); or a person that has had the registration referred to in Article 12 of the Act on the Provision of Financial Services and the Development of the Accessible Environment Thereto (limited to the registration related to the type of securities, etc. intermediary business operations; the same applies in this item) rescinded pursuant to the provisions of Article 38, paragraph (1) (excluding items (ii), (iii), and (v)) or paragraph (4) of that Act; or is a person that had a registration or license of the same kind as the registration referred to in Article 29, Article 66, Article 66-27, Article 66-50, or Article 66-71 or the license referred to in Article 80, paragraph (1), Article 156-2, or Article 156-24, paragraph (1) or the registration referred to in Article 12 of that Act obtained in the state where its head office or principal office is located (including permission or any other administrative disposition similar to such a registration or license) rescinded; for whom five years have not passed since the date of the rescission;

四the applicant for authorization has a person falling under any of the following persons as an officer or domestic representative;

イa person specified by Cabinet Office Order as being unable to properly perform business due to a mental or physical disorder; or

ロa person falling under any of Article 82, paragraph (2), item (iii), (a), (b), or (e);

五the authority responsible for the enforcement of the foreign laws or regulations that are equivalent to this Act in the country where the head office or principal office of the applicant for authorization is located has not given the assurance prescribed in Article 189, paragraph (2), item (i) or anything else that is found to be equivalent to the assurance; and

六the written application for authorization, or a document that is required to be attached to it contains a false statement regarding a material particular.