Article 40-5Obligation to Notify in Connection with Securities for Professional Investors
第四十条の五（特定投資家向け有価証券に関する告知義務）
If a financial instruments business operator, etc. sells securities for professional investors in a case not falling under the category of a case in which disclosure has been made, or performs any other act specified by Cabinet Order in connection with such securities, without issuing a solicitation for acquisition or a solicitation for selling, etc., it must notify the other party to the sale or other act, pursuant to the provisions of Cabinet Office Order and with regard to the securities for professional investors, that the case does not fall under the category of a case in which disclosure has been made, as well as notifying the other party of any other matters that are specified by Cabinet Office Order.
金融商品取引業者等は、開示が行われている場合に該当しない特定投資家向け有価証券について、取得勧誘又は売付け勧誘等を行うことなく売付けその他の政令で定める行為を行う場合には、その相手方に対して、内閣府令で定めるところにより、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に該当しないことその他の内閣府令で定める事項を告知しなければならない。
The first time that a financial instruments business operator, etc. receives an offer from a professional investor, etc. (excluding a person set forth in Article 2, paragraph (31), items (i) through (iii)) for a contract for transactions in securities for professional investors (meaning a contract for performing an act set forth in Article 2, paragraph (8), items (i) through (iv), or item (x) in connection with securities for professional investors (excluding a contract for making a purchase and sale of securities for professional investors through an act set forth in item (x) of that paragraph (limited to a purchase and sale conducted through the intermediation, brokerage, or agency of the financial instruments business operator that performs that act) or any other contract that is specified by Cabinet Office Order taking into account of the content of the contract and the features of the counterparty); hereinafter the same applies in this paragraph), the business operator, etc. must notify the professional investor, etc. of the following particulars and deliver a document to the professional investor, etc. that states those particulars, before concluding the contract for transactions in securities for professional investors related to the offer:
金融商品取引業者等は、特定投資家等（第二条第三十一項第一号から第三号までに掲げる者を除く。）から特定投資家向け有価証券取引契約（特定投資家向け有価証券に係る同条第八項第一号から第四号まで又は第十号に掲げる行為を行うことを内容とする契約（同号に掲げる行為による特定投資家向け有価証券の売買（当該行為を行う金融商品取引業者による媒介、取次ぎ又は代理によるものに限る。）を行うことを内容とする契約その他の契約の内容又は相手方の特性を勘案して内閣府令で定めるものを除く。）をいう。以下この項において同じ。）の申込みを初めて受けた場合には、当該申込みに係る特定投資家向け有価証券取引契約を締結するまでに、当該特定投資家等に対し、次に掲げる事項を告知し、かつ、当該事項を記載した書面を交付しなければならない。
the contents of the information provided in connection with the securities for professional investors, the nature of the transaction, and any other matters specified by Cabinet Office Order as material matters of which an investor must be made aware in connection with securities for professional investors; and
特定投資家向け有価証券に関する情報提供の内容及び取引の特質その他の特定投資家向け有価証券に関し投資者が認識すべき重要な事項として内閣府令で定める事項
an indication of the risk of insufficient protection involved, if a transaction of securities for professional investors will be conducted by a person whose knowledge or experience, or the state of whose assets, makes it inappropriate for the person to do so.
特定投資家向け有価証券の取引を行うことがその知識、経験及び財産の状況に照らして適当ではない者が特定投資家向け有価証券の取引を行う場合には、当該者の保護に欠けることとなるおそれがある旨
The provisions of Article 34-2, paragraph (4) apply mutatis mutandis to the delivery of the documents set forth in the preceding paragraph.
第三十四条の二第四項の規定は、前項の規定による書面の交付について準用する。
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qualified institutional investors;
適格機関投資家
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the State;
国
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the Bank of Japan; and
日本銀行
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the purchase and sale of securities (excluding those falling under the category of derivatives transactions; the same applies hereinafter), market derivatives transactions…
有価証券の売買（デリバティブ取引に該当するものを除く。以下同じ。）、市場デリバティブ取引（金融商品（第二十四項第三号の三に掲げるものに限る。）又は金融指標（当該金融商品の価格及びこれに基づいて算出した数値に限る。）に係る市場デリバティブ取引（以下「商品関連市場デリバティブ取引」という。）を除く。）又は外国市場デリバテ…
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the purchase and sale of securities or intermediation, brokerage, or agency for it, using an electronic data processing system, conducted through any of the following methods for deciding the trading…
有価証券の売買又はその媒介、取次ぎ若しくは代理であつて、電子情報処理組織を使用して、同時に多数の者を一方の当事者又は各当事者として次に掲げる売買価格の決定方法又はこれに類似する方法により行うもの（取り扱う有価証券の種類等に照らして取引所金融商品市場又は店頭売買有価証券市場（第六十七条第二項に規定する店頭売買有価証券市…
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intermediation, brokerage (excluding brokerage for clearing of securities, etc.), or agency for the purchase and sale of securities, market derivatives transactions…
有価証券の売買、市場デリバティブ取引又は外国市場デリバティブ取引の媒介、取次ぎ（有価証券等清算取次ぎを除く。）又は代理（有価証券の売買の媒介、取次ぎ又は代理にあつては、第十号に掲げるものを除く。）
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intermediation, brokerage, or agency for entrustment of the following transactions:
次に掲げる取引の委託の媒介、取次ぎ又は代理
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over-the-counter derivatives transactions or intermediation, brokerage (excluding brokerage for clearing of securities, etc.), or agency for them…
店頭デリバティブ取引又はその媒介、取次ぎ（有価証券等清算取次ぎを除く。）若しくは代理（以下「店頭デリバティブ取引等」という。）
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With the consent of the applicant and pursuant to the provisions of Cabinet Order, in lieu of delivering the document under the provisions of the preceding paragraph…
金融商品取引業者等は、前項の規定による書面の交付に代えて、政令で定めるところにより、申出者の承諾を得て、当該書面に記載すべき事項を電子情報処理組織を使用する方法その他の情報通信の技術を利用する方法であつて内閣府令で定めるものにより提供することができる。
Open this provision(Obligation to Notify in Connection with Securities for Professional Investors)
The first time that a financial instruments business operator, etc. receives an offer from a professional investor, etc.…
金融商品取引業者等は、特定投資家等（第二条第三十一項第一号から第三号までに掲げる者を除く。）から特定投資家向け有価証券取引契約（特定投資家向け有価証券に係る同条第八項第一号から第四号まで又は第十号に掲げる行為を行うことを内容とする契約（同号に掲げる行為による特定投資家向け有価証券の売買（当該行為を行う金融商品取引業者…
Open this provisionsolicitation for acquisition
「取得勧誘」
A solicitation of offers to acquire newly issued securities, including the acts that a Cabinet Office Order (内閣府令) treats as similar to it (取得勧誘類似行為).
Short name set inArticle 2, paragraph (3)
professional 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)
solicitation for selling, etc.
「売付け勧誘等」
An offer to sell securities already issued, or a solicitation of offers to buy them, other than one that counts as an act similar to a solicitation for acquisition (取得勧誘類似行為) or one a Cabinet Office Order (内閣府令) excludes.
Short name set inArticle 2, paragraph (4)
financial instruments business operator
「金融商品取引業者」
A person registered by the Prime Minister under Article 29 to carry on financial instruments business (金融商品取引業).
Defined inArticle 2, paragraph (9)· 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)
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)
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
transactions in securities for professional investors
「有価証券取引契約」
In Article 40-5, paragraph (2), a contract for transactions in securities for professional investors (特定投資家向け有価証券取引契約): a contract to carry out, for securities for professional investors (特定投資家向け有価証券), any of the acts in Article 2, paragraph (8), items (i) to (iv) or item (x) — trading them or their derivatives, intermediating, brokering or acting as agent in such trades, or trading or intermediating them through an electronic system with many parties at once — other than a contract to buy them through such a system by way of the operating firm's own intermediation, brokerage or agency, and other contracts a Cabinet Office Order (内閣府令) excludes in view of their content or the counterparty.
Defined inArticle 40-5, paragraph (2)· applies only in this paragraph