# 金融商品取引法 / Financial Instruments and Exchange Act — 第二十七条の三十四 (Article 27-34) - Law: 金融商品取引法 (Financial Instruments and Exchange Act), 昭和二十三年法律第二十五号 - English title "Financial Instruments and Exchange Act": Ministry of Justice translation - Kind: Act — the distinction between 法律 (Act), 政令 (Cabinet Order), 省令 (Ministerial Order) and 条例 (local ordinance) decides who may issue it and what it may say. - Provision: 第二十七条の三十四 (Article 27-34)（虚偽の特定情報に係る賠償責任） — address `art-27-34` - Text in force since: 2026-08-12 - URL (the page that opens at this provision): https://japanlaw.org/en/financial-instruments-and-exchange-act/art-27-34 - Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/323AC0000000025/art-27-34 - Every provision below carries its address and both URLs on the line under it. - Japanese text: e-Gov 法令検索, Digital Agency (デジタル庁). English: as marked on each line below. Only the Japanese as published by the government has legal effect; the text below is a copy of it. Every English rendering below is a translation and says which kind: the Ministry of Justice's translation, or this site's machine translation, whose model and date the Sources list names. They are never merged and never substituted for one another. --- ### 第二十七条の三十四（虚偽の特定情報に係る賠償責任） — (Compensatory Liability in Connection with False Specified Information) caption: Ministry of Justice translation — Japanese Law Translation Database System art-27-34 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-27-34 · https://japanlaw.org/l/323AC0000000025/art-27-34 **第一項** 第二十一条の二から第二十二条までの規定は、特定情報（特定証券等情報又は発行者等情報（発行者情報又は訂正発行者情報をいう。以下同じ。）をいう。第二十七条の三十五第一項において同じ。）について準用する。この場合において、第二十一条の二第一項中「第二十五条第一項各号（第四号及び第七号を除く。）に掲げる書類（以下この条において「書類」という。）」とあるのは「特定情報（第二十七条の三十四に規定する特定情報をいう。以下同じ。）であつて第二十七条の三十一第二項、第四項若しくは第五項又は第二十七条の三十二の規定により公表されたもの（以下「公表情報」という。）」と、「虚偽の記載」とあるのは「虚偽の情報」と、「記載すべき」とあるのは「提供し、若しくは公表すべき」と、「事実の記載」とあるのは「事実に関する情報」と、「書類の提出者」とあるのは「公表情報を公表した発行者」と、「書類が同項の規定により公衆の縦覧に供されている間に当該書類（同項第十号に掲げる書類を除く。）の提出者又は当該書類（同号に掲げる書類に限る。）の提出者を親会社等（第二十四条の七第一項に規定する親会社等をいう。）とする者が発行者である」とあるのは「公表情報がこれらの規定により公表されている間に当該発行者の」と、「若しくは売出し」とあるのは「若しくは売出し若しくは特定勧誘等（第二十七条の三十一第一項に規定する特定勧誘等をいう。以下同じ。）」と、「記載が虚偽」とあるのは「情報が虚偽」と、「虚偽記載等」とあるのは「虚偽情報等」と、同条第二項中「書類の虚偽記載等」とあるのは「公表情報に係る虚偽情報等」と、同条第三項中「書類の虚偽記載等」とあるのは「公表情報に係る虚偽情報等」と、「当該虚偽記載等」とあるのは「当該虚偽情報等」と、同条第四項中「虚偽記載等の」とあるのは「虚偽情報等の」と、「書類の提出者」とあるのは「公表情報を公表した発行者」と、「当該提出者」とあるのは「当該発行者」と、「書類の虚偽記載等」とあるのは「公表情報に係る虚偽情報等」と、「記載すべき」とあるのは「提供し、若しくは公表すべき」と、「第二十五条第一項の規定による公衆の縦覧その他の手段により」とあるのは「内閣府令で定めるところにより」と、同条第五項及び第六項中「書類の虚偽記載等」とあるのは「公表情報に係る虚偽情報等」と、第二十一条の三中「第二十一条の二」とあるのは「第二十七条の三十四において読み替えて準用する第二十一条の二」と、「第二十五条第一項各号（第四号及び第七号を除く。）に掲げる書類」とあるのは「公表情報（第二十七条の三十四において読み替えて準用する第二十一条の二第一項に規定する公表情報をいう。以下同じ。）」と、「「三年間」とあるのは「二年間」と」とあるのは「「虚偽の記載」とあるのは「虚偽の情報」と、「記載すべき」とあるのは「提供し、若しくは公表すべき」と、「事実の記載」とあるのは「事実に関する情報」と、「三年間」とあるのは「二年間」と」と、「当該書類が提出された時から五年間」とあるのは「当該公表情報が公表された日から五年間」と、第二十二条第一項中「有価証券届出書のうちに」とあるのは「特定情報のうちに」と、「虚偽の記載」とあるのは「虚偽の情報」と、「記載すべき」とあるのは「提供し、若しくは公表すべき」と、「事実の記載」とあるのは「事実に関する情報」と、「第二十一条第一項第一号及び第三号に掲げる者」とあるのは「当該特定情報を提供し、若しくは公表した発行者の、その提供若しくは公表の時における役員（第二十一条第一項第一号に規定する役員をいう。）又は当該発行者の発起人その他これに準ずる者（その提供又は公表が発行者の成立又は発足前にされたときに限る。）」と、「記載が虚偽」とあるのは「情報が虚偽」と、「有価証券届出書の届出者が発行者である」とあるのは「特定情報を提供し、若しくは公表した発行者の」と、「募集若しくは売出しによらないで取得した者又は処分した者」とあるのは「取得した者（当該特定情報が公表されていない場合にあつては、当該特定情報の提供を受けた者に限り、当該特定情報が特定証券等情報（第二十七条の三十三に規定する特定証券等情報をいう。）である場合にあつては、募集若しくは売出し又は特定勧誘等によらないで取得した者に限る。）又は処分した者（当該特定情報が公表されていない場合にあつては、当該特定情報の提供を受けた者に限る。）」と、同条第二項中「及び第二号の規定」とあるのは「の規定」と読み替えるものとするほか、必要な技術的読替えは、政令で定める。 art-27-34/par-1 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-27-34/par-1 · https://japanlaw.org/l/323AC0000000025/art-27-34/par-1 The provisions of Articles 21-2 through 22 apply mutatis mutandis to specified information (meaning specified information on securities, etc. or information on the issuer, etc. (meaning information on the issuer or amended information on the issuer; the same applies hereinafter); the same applies in Article 27-35, paragraph (1)). In this case, in Article 21-2, paragraph (1), the phrase "a document set forth in the items of Article 25, paragraph (1) (excluding items (iv) and (vii)) (hereinafter referred to as a 'document' in this Article)" is deemed to be replaced with "specified information (meaning the specified information prescribed in Article 27-34; the same applies hereinafter) disclosed pursuant to the provisions of Article 27-31, paragraph (2), (4) or (5) or Article 27-32 (hereinafter referred to as 'disclosed information')", the phrase "false statement" is deemed to be replaced with "false information", the phrase "that is required to be stated" is deemed to be replaced with "that is required to be provided or disclosed", the phrase "a statement of a material fact" is deemed to be replaced with "information concerning a material fact", the phrase "the person submitting the document is liable" is deemed to be replaced with "the issuer that disclosed the disclosed information is liable", the phrase "the document is being made available for public inspection as required by Article 25, paragraph (1), acquires or disposes of securities of which the person submitting the document (excluding a document set forth in Article 25, paragraph (1), item (x)) or a person whose parent company, etc. (meaning a parent company, etc. as defined by Article 24-7, paragraph (1)) is the person submitting the document (limited to a document set forth in Article 25, paragraph (1), item (x)) is the issuer" is deemed to be replaced with "the disclosed information is being disclosed pursuant to these provisions, acquires or disposes of securities of that issuer", the phrase "or secondary distribution" is deemed to be replaced with ", secondary distribution, or specified solicitation, etc. (meaning the specified solicitation, etc. prescribed in Article 27-31, paragraph (1); the same applies hereinafter)", the phrase "statement being false" is deemed to be replaced with "information being false", and the phrase "false statement, etc." is deemed to be replaced with "false information, etc."; in paragraph (2) of that Article, the phrase "the false statement, etc. in the relevant document" is deemed to be replaced with "the false information, etc. pertaining to the relevant disclosed information"; in paragraph (3) of that Article, the phrases "a false statement, etc. in the relevant document" and "the document's false statement, etc." are deemed to be replaced with "false information, etc. pertaining to the relevant disclosed information" and "the false information, etc. pertaining to the disclosed information", respectively, and the phrase "the existence of the false statement, etc." is deemed to be replaced with "the existence of the false information, etc."; in paragraph (4) of that Article, the phrase "the existence of a false statement, etc." is deemed to be replaced with "the existence of false information, etc.", the phrase "means that the person submitting the document" is deemed to be replaced with "means that the issuer that disclosed the disclosed information", the phrase "over the person submitting the document" is deemed to be replaced with "over the issuer", the phrase "the document's false statement, etc." is deemed to be replaced with "the false information, etc. pertaining to the disclosed information", the phrase "that is required to be stated" is deemed to be replaced with "that is required to be provided or disclosed", and the phrase "through public inspection provided in Article 25, paragraph (1) or through other means" is deemed to be replaced with "pursuant to the provisions of Cabinet Office Order"; in paragraphs (5) and (6) of that Article, the phrase "the document's false statement, etc." is deemed to be replaced with "the false information, etc. pertaining to the disclosed information"; in Article 21-3, the phrase "Article 21-2" is deemed to be replaced with "Article 21-2 as applied mutatis mutandis pursuant to Article 27-34 following the deemed replacement of terms", the phrase "a document set forth in one of the items of Article 25, paragraph (1) (excluding items (iv) and (vii))" is deemed to be replaced with "the disclosed information (meaning disclosed information prescribed in Article 21-2, paragraph (1) as applied mutatis mutandis pursuant to Article 27-34 following the deemed replacement of terms; the same applies hereinafter)", the phrase "the term 'three years' is deemed to be replaced with 'two years'" is deemed to be replaced with "the term 'false statement' is deemed to be replaced with 'false information', the phrase 'that is required to be stated' is deemed to be replaced with 'that is required to be provided or disclosed', the phrase 'a statement of a material fact' is deemed to be replaced with 'information concerning a material fact', and the term 'three years' is deemed to be replaced with 'two years'", and the phrase "for five years from the time when the document is submitted" is deemed to be replaced with "for five years from the day on which the disclosed information is disclosed"; in Article 22, paragraph (1), the phrase "a securities registration statement contains" is deemed to be replaced with "specified information contains", the phrase "false statement" is deemed to be replaced with "false information", the phrase "that is required to be stated" is deemed to be replaced with "that is required to be provided or disclosed", the phrase "a statement of material fact" is deemed to be replaced with "information concerning a material fact", the phrase "persons set forth in Article 21, paragraph (1), items (i) and (iii)" is deemed to be replaced with "officers (meaning officers prescribed in Article 21, paragraph (1), item (i)), at the time of the provision or disclosure, of the issuer that provided or disclosed that specified information, or incorporators or other persons equivalent thereto of the issuer (limited to cases in which the provision or disclosure was made before the establishment or inception of the issuer)", the phrase "statement is false" is deemed to be replaced with "information is false", and the phrase "acquires or disposes of securities issued by the person submitting the securities registration statement other than through a public offering or secondary distribution" is deemed to be replaced with "acquires securities of the issuer that provided or disclosed the specified information (if the specified information has not been disclosed, this is limited to a person that was provided with the specified information, and if the specified information is specified information on securities, etc. (meaning the specified information on securities, etc. prescribed in Article 27-33), this is limited to a person that acquired the securities other than through a public offering, secondary distribution, or specified solicitation, etc.) or disposes of such securities (if the specified information has not been disclosed, this is limited to a person that was provided with the specified information)"; in paragraph (2) of that Article, the phrase "Article 21, paragraph (2), items (i) and (ii)" is deemed to be replaced with "Article 21, paragraph (2), item (i)"; and any other necessary technical replacement of terms is specified by Cabinet Order. machine translation, not official --- ## Cites - art-27-34/par-1: 第二十一条の二から第二十二条まで → 金融商品取引法 第二十一条の二 (Article 21-2), art-21-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-21-2 · https://japanlaw.org/l/323AC0000000025/art-21-2 - art-27-34/par-1: 第二十一条の二から第二十二条まで → 金融商品取引法 第二十一条の三 (Article 21-3), art-21-3 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-21-3 · https://japanlaw.org/l/323AC0000000025/art-21-3 - art-27-34/par-1: 第二十一条の二から第二十二条まで → 金融商品取引法 第二十二条 (Article 22), art-22 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-22 · https://japanlaw.org/l/323AC0000000025/art-22 - art-27-34/par-1: 第二十七条の三十五第一項 → 金融商品取引法 第二十七条の三十五第一項 (Article 27-35, paragraph (1)), art-27-35/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-27-35/par-1 · https://japanlaw.org/l/323AC0000000025/art-27-35/par-1 - art-27-34/par-1: 第二十一条の二第一項 → 金融商品取引法 第二十一条の二第一項 (Article 21-2, paragraph (1)), art-21-2/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-21-2/par-1 · https://japanlaw.org/l/323AC0000000025/art-21-2/par-1 - art-27-34/par-1: 第二十五条第一項 → 金融商品取引法 第二十五条第一項 (Article 25, paragraph (1)), art-25/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-25/par-1 · https://japanlaw.org/l/323AC0000000025/art-25/par-1 - art-27-34/par-1: 第四号 → 金融商品取引法 第二十五条第一項第四号 (Article 25, paragraph (1), item (iv)), art-25/par-1/item-4 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-25/par-1/item-4 · https://japanlaw.org/l/323AC0000000025/art-25/par-1/item-4 - art-27-34/par-1: 第七号 → 金融商品取引法 第二十五条第一項第七号 (Article 25, paragraph (1), item (vii)), art-25/par-1/item-7 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-25/par-1/item-7 · https://japanlaw.org/l/323AC0000000025/art-25/par-1/item-7 - art-27-34/par-1: 第二十七条の三十四 → 金融商品取引法 第二十七条の三十四 (Article 27-34), art-27-34 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-27-34 · https://japanlaw.org/l/323AC0000000025/art-27-34 - art-27-34/par-1: 第二十七条の三十一第二項 → 金融商品取引法 第二十七条の三十一第二項 (Article 27-31, paragraph (2)), art-27-31/par-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-27-31/par-2 · https://japanlaw.org/l/323AC0000000025/art-27-31/par-2 - art-27-34/par-1: 第四項 → 金融商品取引法 第二十七条の三十一第四項 (Article 27-31, paragraph (4)), art-27-31/par-4 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-27-31/par-4 · https://japanlaw.org/l/323AC0000000025/art-27-31/par-4 - art-27-34/par-1: 第五項 → 金融商品取引法 第二十七条の三十一第五項 (Article 27-31, paragraph (5)), art-27-31/par-5 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-27-31/par-5 · https://japanlaw.org/l/323AC0000000025/art-27-31/par-5 - art-27-34/par-1: 第二十七条の三十二 → 金融商品取引法 第二十七条の三十二 (Article 27-32), art-27-32 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-27-32 · https://japanlaw.org/l/323AC0000000025/art-27-32 - art-27-34/par-1: 同項第十号 → 金融商品取引法 第二十五条第一項第十号 (Article 25, paragraph (1), item (x)), art-25/par-1/item-10 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-25/par-1/item-10 · https://japanlaw.org/l/323AC0000000025/art-25/par-1/item-10 - art-27-34/par-1: 第二十四条の七第一項 → 金融商品取引法 第二十四条の七第一項 (Article 24-7, paragraph (1)), art-24-7/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-24-7/par-1 · https://japanlaw.org/l/323AC0000000025/art-24-7/par-1 - art-27-34/par-1: 第二十七条の三十一第一項 → 金融商品取引法 第二十七条の三十一第一項 (Article 27-31, paragraph (1)), art-27-31/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-27-31/par-1 · https://japanlaw.org/l/323AC0000000025/art-27-31/par-1 - art-27-34/par-1: 同条第二項 → 金融商品取引法 第二十一条の二第二項 (Article 21-2, paragraph (2)), art-21-2/par-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-21-2/par-2 · https://japanlaw.org/l/323AC0000000025/art-21-2/par-2 - art-27-34/par-1: 同条第三項 → 金融商品取引法 第二十一条の二第三項 (Article 21-2, paragraph (3)), art-21-2/par-3 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-21-2/par-3 · https://japanlaw.org/l/323AC0000000025/art-21-2/par-3 - art-27-34/par-1: 同条第四項 → 金融商品取引法 第二十一条の二第四項 (Article 21-2, paragraph (4)), art-21-2/par-4 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-21-2/par-4 · https://japanlaw.org/l/323AC0000000025/art-21-2/par-4 - art-27-34/par-1: 同条第五項 → 金融商品取引法 第二十一条の二第五項 (Article 21-2, paragraph (5)), art-21-2/par-5 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-21-2/par-5 · https://japanlaw.org/l/323AC0000000025/art-21-2/par-5 - art-27-34/par-1: 第六項 → 金融商品取引法 第二十一条の二第六項 (Article 21-2, paragraph (6)), art-21-2/par-6 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-21-2/par-6 · https://japanlaw.org/l/323AC0000000025/art-21-2/par-6 - art-27-34/par-1: 第二十二条第一項 → 金融商品取引法 第二十二条第一項 (Article 22, paragraph (1)), art-22/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-22/par-1 · https://japanlaw.org/l/323AC0000000025/art-22/par-1 - art-27-34/par-1: 第二十一条第一項第一号 → 金融商品取引法 第二十一条第一項第一号 (Article 21, paragraph (1), item (i)), art-21/par-1/item-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-21/par-1/item-1 · https://japanlaw.org/l/323AC0000000025/art-21/par-1/item-1 - art-27-34/par-1: 第三号 → 金融商品取引法 第二十一条第一項第三号 (Article 21, paragraph (1), item (iii)), art-21/par-1/item-3 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-21/par-1/item-3 · https://japanlaw.org/l/323AC0000000025/art-21/par-1/item-3 - art-27-34/par-1: 第二十七条の三十三 → 金融商品取引法 第二十七条の三十三 (Article 27-33), art-27-33 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-27-33 · https://japanlaw.org/l/323AC0000000025/art-27-33 - art-27-34/par-1: 同条第二項 → 金融商品取引法 第二十二条第二項 (Article 22, paragraph (2)), art-22/par-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-22/par-2 · https://japanlaw.org/l/323AC0000000025/art-22/par-2 ## Cited by 2 provisions cite this one. No official source publishes this direction. - 金融商品取引法 第二十七条の三十四第一項（虚偽の特定情報に係る賠償責任） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-27-34/par-1 · https://japanlaw.org/l/323AC0000000025/art-27-34/par-1 - 金融商品取引法 附則第二条第一項（金融商品取引法の一部改正に伴う経過措置） — https://japanlaw.org/en/financial-instruments-and-exchange-act/suppl-4261-44/art-2/par-1 · https://japanlaw.org/l/323AC0000000025/suppl-4261-44/art-2/par-1 --- ## Sources - e-Gov 法令検索, Digital Agency (デジタル庁) — 金融商品取引法 — the text in force from 2026-08-12 (https://laws.e-gov.go.jp/law/323AC0000000025/20260812_508AC0000000064), retrieved 2026-10-22 - Japanese Law Translation Database System, Ministry of Justice (法務省) — Financial Instruments and Exchange Act — Ministry of Justice translation (https://www.japaneselawtranslation.go.jp/en/laws/view/4633/tb), retrieved 2026-10-22 - claude-sonnet-5-5 — Machine translation, batch financial-instruments-and-exchange-act-20261023T035921-004, translated 2026-10-23 - This site's parser, version 212 — 金融商品取引法 — structure, counts, cross-references and defined terms, computed 2026-10-22