# 金融商品取引法 / Financial Instruments and Exchange Act — 第四十二条の二 (Article 42-2) - 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: 第四十二条の二 (Article 42-2)（禁止行為） — address `art-42-2` - 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-42-2 - Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/323AC0000000025/art-42-2 - 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. --- ### 第四十二条の二（禁止行為） — (Prohibited Actions) caption: Ministry of Justice translation — Japanese Law Translation Database System art-42-2 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-42-2 · https://japanlaw.org/l/323AC0000000025/art-42-2 **第一項** 金融商品取引業者等は、その行う投資運用業に関して、次に掲げる行為をしてはならない。ただし、第一号及び第二号に掲げる行為にあつては、投資者の保護に欠け、若しくは取引の公正を害し、又は金融商品取引業の信用を失墜させるおそれのないものとして内閣府令で定めるものを除く。 art-42-2/par-1 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-42-2/par-1 · https://japanlaw.org/l/323AC0000000025/art-42-2/par-1 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: Ministry of Justice translation — Japanese Law Translation Database System **一** 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。 art-42-2/par-1/item-1 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-42-2/par-1/item-1 · https://japanlaw.org/l/323AC0000000025/art-42-2/par-1/item-1 making an investment that involves a transaction with the financial instruments business operator, etc. or its director or executive officer; Ministry of Justice translation — Japanese Law Translation Database System **二** 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。 art-42-2/par-1/item-2 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-42-2/par-1/item-2 · https://japanlaw.org/l/323AC0000000025/art-42-2/par-1/item-2 making an investment that involves a transaction being conducted between or among investment properties; Ministry of Justice translation — Japanese Law Translation Database System **三** 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。 art-42-2/par-1/item-3 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-42-2/par-1/item-3 · https://japanlaw.org/l/323AC0000000025/art-42-2/par-1/item-3 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; Ministry of Justice translation — Japanese Law Translation Database System **四** 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。 art-42-2/par-1/item-4 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-42-2/par-1/item-4 · https://japanlaw.org/l/323AC0000000025/art-42-2/par-1/item-4 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; Ministry of Justice translation — Japanese Law Translation Database System **五** 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。 art-42-2/par-1/item-5 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-42-2/par-1/item-5 · https://japanlaw.org/l/323AC0000000025/art-42-2/par-1/item-5 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; Ministry of Justice translation — Japanese Law Translation Database System **六** 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、又は第三者に提供させること（事故による損失又は当該権利者と金融商品取引業者等との間で行われる有価証券の売買その他の取引に係る金銭の授受の用に供することを目的としてその受益権が取得され、若しくは保有されるものとして内閣府令で定める投資信託の元本に生じた損失の全部又は一部を補塡する場合を除く。）。 art-42-2/par-1/item-6 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-42-2/par-1/item-6 · https://japanlaw.org/l/323AC0000000025/art-42-2/par-1/item-6 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 Ministry of Justice translation — Japanese Law Translation Database System **七** 前各号に掲げるもののほか、投資者の保護に欠け、若しくは取引の公正を害し、又は金融商品取引業の信用を失墜させるものとして内閣府令で定める行為 art-42-2/par-1/item-7 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-42-2/par-1/item-7 · https://japanlaw.org/l/323AC0000000025/art-42-2/par-1/item-7 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. Ministry of Justice translation — Japanese Law Translation Database System --- ## Cites - art-42-2/par-1: 第一号 → 金融商品取引法 第四十二条の二第一項第一号 (Article 42-2, paragraph (1), item (i)), art-42-2/par-1/item-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-42-2/par-1/item-1 · https://japanlaw.org/l/323AC0000000025/art-42-2/par-1/item-1 - art-42-2/par-1: 第二号 → 金融商品取引法 第四十二条の二第一項第二号 (Article 42-2, paragraph (1), item (ii)), art-42-2/par-1/item-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-42-2/par-1/item-2 · https://japanlaw.org/l/323AC0000000025/art-42-2/par-1/item-2 - art-42-2/par-1/item-7: 前各号 → 金融商品取引法 第四十二条の二第一項第一号 (Article 42-2, paragraph (1), item (i)), art-42-2/par-1/item-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-42-2/par-1/item-1 · https://japanlaw.org/l/323AC0000000025/art-42-2/par-1/item-1 - art-42-2/par-1/item-7: 前各号 → 金融商品取引法 第四十二条の二第一項第二号 (Article 42-2, paragraph (1), item (ii)), art-42-2/par-1/item-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-42-2/par-1/item-2 · https://japanlaw.org/l/323AC0000000025/art-42-2/par-1/item-2 - art-42-2/par-1/item-7: 前各号 → 金融商品取引法 第四十二条の二第一項第三号 (Article 42-2, paragraph (1), item (iii)), art-42-2/par-1/item-3 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-42-2/par-1/item-3 · https://japanlaw.org/l/323AC0000000025/art-42-2/par-1/item-3 - art-42-2/par-1/item-7: 前各号 → 金融商品取引法 第四十二条の二第一項第四号 (Article 42-2, paragraph (1), item (iv)), art-42-2/par-1/item-4 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-42-2/par-1/item-4 · https://japanlaw.org/l/323AC0000000025/art-42-2/par-1/item-4 - art-42-2/par-1/item-7: 前各号 → 金融商品取引法 第四十二条の二第一項第五号 (Article 42-2, paragraph (1), item (v)), art-42-2/par-1/item-5 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-42-2/par-1/item-5 · https://japanlaw.org/l/323AC0000000025/art-42-2/par-1/item-5 - art-42-2/par-1/item-7: 前各号 → 金融商品取引法 第四十二条の二第一項第六号 (Article 42-2, paragraph (1), item (vi)), art-42-2/par-1/item-6 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-42-2/par-1/item-6 · https://japanlaw.org/l/323AC0000000025/art-42-2/par-1/item-6 ## Cited by 10 provisions cite this one. No official source publishes this direction. - 金融商品取引法 第三十九条第四項（損失補塡等の禁止） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-39/par-4 · https://japanlaw.org/l/323AC0000000025/art-39/par-4 - 金融商品取引法 第四十二条の二第一項（禁止行為） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-42-2/par-1 · https://japanlaw.org/l/323AC0000000025/art-42-2/par-1 - 金融商品取引法 第四十二条の二第一項第七号（禁止行為） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-42-2/par-1/item-7 · https://japanlaw.org/l/323AC0000000025/art-42-2/par-1/item-7 - 金融商品取引法 第四十二条の三第三項（運用権限の委託） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-42-3/par-3 · https://japanlaw.org/l/323AC0000000025/art-42-3/par-3 - 金融商品取引法 第六十三条第十一項（適格機関投資家等特例業務） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-63/par-11 · https://japanlaw.org/l/323AC0000000025/art-63/par-11 - 金融商品取引法 第六十三条の三第三項第二号（金融商品取引業者等が適格機関投資家等特例業務を行う場合） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-63-3/par-3/item-2 · https://japanlaw.org/l/323AC0000000025/art-63-3/par-3/item-2 - 金融商品取引法 第六十三条の九第八項（海外投資家等特例業務の届出等） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-63-9/par-8 · https://japanlaw.org/l/323AC0000000025/art-63-9/par-8 - 金融商品取引法 第六十三条の十一第三項第一号（金融商品取引業者等が海外投資家等特例業務を行う場合） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-63-11/par-3/item-1 · https://japanlaw.org/l/323AC0000000025/art-63-11/par-3/item-1 - 金融商品取引法 第六十五条の四第一項（内閣府令への委任） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-65-4/par-1 · https://japanlaw.org/l/323AC0000000025/art-65-4/par-1 - 金融商品取引法 第百九十八条の三第一項 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-198-3/par-1 · https://japanlaw.org/l/323AC0000000025/art-198-3/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 - This site's parser, version 212 — 金融商品取引法 — structure, counts, cross-references and defined terms, computed 2026-10-22