# 金融商品取引法 / Financial Instruments and Exchange Act — 第四十三条の二 (Article 43-2) - 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: 第四十三条の二 (Article 43-2)（分別管理） — address `art-43-2` - 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-43-2 - Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/323AC0000000025/art-43-2 - 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. --- ### 第四十三条の二（分別管理） — (Separate Management) caption: Ministry of Justice translation — Japanese Law Translation Database System art-43-2 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-43-2 · https://japanlaw.org/l/323AC0000000025/art-43-2 **第一項** 金融商品取引業者等は、次に掲げる有価証券（次項の規定により管理する有価証券を除く。）を、確実にかつ整然と管理する方法として内閣府令で定める方法により、自己の固有財産と分別して管理しなければならない。 art-43-2/par-1 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-43-2/par-1 · https://japanlaw.org/l/323AC0000000025/art-43-2/par-1 A financial instruments business operator, etc. must manage the following securities (excluding the securities to be managed under the following paragraph) in the way specified by Cabinet Office Order as a reliable and orderly way of managing property, and must do so separately from its own property: Ministry of Justice translation — Japanese Law Translation Database System **一** 第百十九条の規定により金融商品取引業者等が顧客から預託を受けた有価証券（有価証券関連デリバティブ取引に関して預託を受けたものに限る。）又は第百六十一条の二の規定により金融商品取引業者が顧客から預託を受けた有価証券 art-43-2/par-1/item-1 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-43-2/par-1/item-1 · https://japanlaw.org/l/323AC0000000025/art-43-2/par-1/item-1 the securities that a customer deposits with the financial instruments business operator, etc. pursuant Article 119 (limited to those deposited in connection with securities-related derivatives transactions) or securities that a customer deposits with the financial instruments business operator, etc. pursuant to Article 161-2; and Ministry of Justice translation — Japanese Law Translation Database System **二** 有価証券関連業又は有価証券関連業に付随する業務として内閣府令で定めるものに係る取引（店頭デリバティブ取引に該当するもの（有価証券関連業を行う金融商品取引業者であつて第一種金融商品取引業を行うことにつき第二十九条の登録を受けた者を相手方として行う取引その他の取引の相手方の特性を勘案して内閣府令で定めるものに限る。）その他政令で定める取引を除く。次項第二号、第七十九条の二十及び第七十九条の四十九において「対象有価証券関連取引」という。）に関し、顧客の計算において金融商品取引業者等が占有する有価証券又は金融商品取引業者等が顧客から預託を受けた有価証券（前号に掲げる有価証券、契約により金融商品取引業者等が消費できる有価証券その他政令で定める有価証券を除く。） art-43-2/par-1/item-2 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-43-2/par-1/item-2 · https://japanlaw.org/l/323AC0000000025/art-43-2/par-1/item-2 the securities in the possession of the financial instruments business operator, etc. on the account of a customer or securities that a customer has deposited with the financial instruments business operator, etc. (excluding securities set forth in the preceding item, securities that a financial instruments business operator, etc. may use pursuant to a contract, and securities specified by Cabinet Order), in connection with transactions involved in securities services or other services specified by Cabinet Office Order as being incidental to securities services (excluding over-the-counter derivatives transactions (limited to transactions to be made with a financial instruments business operator that is engaged in securities services and is registered as referred to in Article 29 to engage in type-I financial instruments business as the counterparty, and other transactions that are specified by Cabinet Office Order in consideration of the characteristics of the counterparty to the transaction) and other transactions specified by Cabinet Order; hereinafter referred to as "transactions related to subject securities" in item (ii) of the following paragraph, Article 79-20 and Article 79-49). Ministry of Justice translation — Japanese Law Translation Database System **第二項** 金融商品取引業者等は、次に掲げる金銭又は有価証券について、当該金融商品取引業者等が金融商品取引業（登録金融機関業務を含む。以下この項において同じ。）を廃止した場合その他金融商品取引業を行わないこととなつた場合に顧客に返還すべき額として内閣府令で定めるところにより算定したものに相当する金銭を、自己の固有財産と分別して管理し、内閣府令で定めるところにより、当該金融商品取引業者等が金融商品取引業を廃止した場合その他金融商品取引業を行わないこととなつた場合に顧客に返還すべき額に相当する金銭を管理することを目的として、国内において、信託会社等に信託をしなければならない。 art-43-2/par-2 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-43-2/par-2 · https://japanlaw.org/l/323AC0000000025/art-43-2/par-2 As regards the money or securities set forth in the following items, a financial instruments business operator, etc. must manage the amount of money calculated pursuant to the provisions of Cabinet Office Order as the amount to be refunded to the customer in the event that the financial instruments business operator, etc. discontinues its financial instruments business (including services of a registered financial institution; hereinafter the same applies in this paragraph) or otherwise ceases to operate in the financial instruments business, separately from its own assets, and must establish a trust with a trust company, etc. in Japan, pursuant to the provisions of Cabinet Office Order, for the purpose of managing the amount of money to be refunded to the customer in the event that the relevant financial instruments business operator, etc. discontinues its financial instruments business or otherwise ceases to operate in the financial instruments business: Ministry of Justice translation — Japanese Law Translation Database System **一** 第百十九条の規定により金融商品取引業者等が顧客から預託を受けた金銭（有価証券関連デリバティブ取引に関して預託を受けたものに限る。）又は第百六十一条の二の規定により金融商品取引業者が顧客から預託を受けた金銭 art-43-2/par-2/item-1 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-43-2/par-2/item-1 · https://japanlaw.org/l/323AC0000000025/art-43-2/par-2/item-1 money that a customer deposits with the financial instruments business operator, etc. (limited to money deposited in connection with securities-related derivatives transactions) pursuant to Article 119, or money that a customer deposits with the financial instruments business operator, etc. pursuant to Article 161-2; Ministry of Justice translation — Japanese Law Translation Database System **二** 対象有価証券関連取引に関し、顧客の計算に属する金銭又は金融商品取引業者等が顧客から預託を受けた金銭（前号に掲げる金銭を除く。） art-43-2/par-2/item-2 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-43-2/par-2/item-2 · https://japanlaw.org/l/323AC0000000025/art-43-2/par-2/item-2 money on the account of a customer or money that a customer deposits with the financial instruments business operator, etc. (excluding the money set forth in the preceding item) in connection with a transaction related to subject securities; and Ministry of Justice translation — Japanese Law Translation Database System **三** 前項各号に掲げる有価証券のうち、第四十三条の四第一項の規定により担保に供されたもの art-43-2/par-2/item-3 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-43-2/par-2/item-3 · https://japanlaw.org/l/323AC0000000025/art-43-2/par-2/item-3 securities set forth in the items of the preceding paragraph that have been furnished as security pursuant to Article 43-4, paragraph (1). Ministry of Justice translation — Japanese Law Translation Database System **第三項** 金融商品取引業者は、前二項の規定による管理の状況について、内閣府令で定めるところにより、定期に、公認会計士（公認会計士法（昭和二十三年法律第百三号）第十六条の二第五項に規定する外国公認会計士を含む。第百九十三条の二及び第百九十三条の三において同じ。）又は監査法人の監査を受けなければならない。 art-43-2/par-3 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-43-2/par-3 · https://japanlaw.org/l/323AC0000000025/art-43-2/par-3 A financial instruments business operator, etc. must periodically undergo an audit by a certified public accountant (this includes a foreign certified public accountant as prescribed in Article 16-2, paragraph (5) of the Certified Public Accountants Act (Act No. 103 of 1948); the same applies in Article 193-2 and Article 193-3) or audit by an audit corporation, pursuant to the provisions of Cabinet Office Order, as regards the management conditions under the preceding two paragraphs. Ministry of Justice translation — Japanese Law Translation Database System --- ## Cites - art-43-2/par-1: 次項 → 金融商品取引法 第四十三条の二第二項 (Article 43-2, paragraph (2)), art-43-2/par-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-43-2/par-2 · https://japanlaw.org/l/323AC0000000025/art-43-2/par-2 - art-43-2/par-1/item-1: 第百十九条 → 金融商品取引法 第百十九条 (Article 119), art-119 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-119 · https://japanlaw.org/l/323AC0000000025/art-119 - art-43-2/par-1/item-1: 第百六十一条の二 → 金融商品取引法 第百六十一条の二 (Article 161-2), art-161-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-161-2 · https://japanlaw.org/l/323AC0000000025/art-161-2 - art-43-2/par-1/item-2: 第二十九条 → 金融商品取引法 第二十九条 (Article 29), art-29 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-29 · https://japanlaw.org/l/323AC0000000025/art-29 - art-43-2/par-1/item-2: 次項第二号 → 金融商品取引法 第四十三条の二第二項第二号 (Article 43-2, paragraph (2), item (ii)), art-43-2/par-2/item-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-43-2/par-2/item-2 · https://japanlaw.org/l/323AC0000000025/art-43-2/par-2/item-2 - art-43-2/par-1/item-2: 第七十九条の二十 → 金融商品取引法 第七十九条の二十 (Article 79-20), art-79-20 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-79-20 · https://japanlaw.org/l/323AC0000000025/art-79-20 - art-43-2/par-1/item-2: 第七十九条の四十九 → 金融商品取引法 第七十九条の四十九 (Article 79-49), art-79-49 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-79-49 · https://japanlaw.org/l/323AC0000000025/art-79-49 - art-43-2/par-1/item-2: 前号 → 金融商品取引法 第四十三条の二第一項第一号 (Article 43-2, paragraph (1), item (i)), art-43-2/par-1/item-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-43-2/par-1/item-1 · https://japanlaw.org/l/323AC0000000025/art-43-2/par-1/item-1 - art-43-2/par-2: この項 → 金融商品取引法 第四十三条の二第二項 (Article 43-2, paragraph (2)), art-43-2/par-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-43-2/par-2 · https://japanlaw.org/l/323AC0000000025/art-43-2/par-2 - art-43-2/par-2/item-1: 第百十九条 → 金融商品取引法 第百十九条 (Article 119), art-119 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-119 · https://japanlaw.org/l/323AC0000000025/art-119 - art-43-2/par-2/item-1: 第百六十一条の二 → 金融商品取引法 第百六十一条の二 (Article 161-2), art-161-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-161-2 · https://japanlaw.org/l/323AC0000000025/art-161-2 - art-43-2/par-2/item-2: 前号 → 金融商品取引法 第四十三条の二第二項第一号 (Article 43-2, paragraph (2), item (i)), art-43-2/par-2/item-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-43-2/par-2/item-1 · https://japanlaw.org/l/323AC0000000025/art-43-2/par-2/item-1 - art-43-2/par-2/item-3: 前項 → 金融商品取引法 第四十三条の二第一項 (Article 43-2, paragraph (1)), art-43-2/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-43-2/par-1 · https://japanlaw.org/l/323AC0000000025/art-43-2/par-1 - art-43-2/par-2/item-3: 第四十三条の四第一項 → 金融商品取引法 第四十三条の四第一項 (Article 43-4, paragraph (1)), art-43-4/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-43-4/par-1 · https://japanlaw.org/l/323AC0000000025/art-43-4/par-1 - art-43-2/par-3: 前二項 → 金融商品取引法 第四十三条の二第一項 (Article 43-2, paragraph (1)), art-43-2/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-43-2/par-1 · https://japanlaw.org/l/323AC0000000025/art-43-2/par-1 - art-43-2/par-3: 前二項 → 金融商品取引法 第四十三条の二第二項 (Article 43-2, paragraph (2)), art-43-2/par-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-43-2/par-2 · https://japanlaw.org/l/323AC0000000025/art-43-2/par-2 - art-43-2/par-3: 公認会計士法（昭和二十三年法律第百三号）第十六条の二第五項 → e-Gov law 323AC0000000103, 第十六条の二第五項 (Article 16-2, paragraph (5)), art-16-2/par-5 — not held in this collection - art-43-2/par-3: 第百九十三条の二 → 金融商品取引法 第百九十三条の二 (Article 193-2), art-193-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-193-2 · https://japanlaw.org/l/323AC0000000025/art-193-2 - art-43-2/par-3: 第百九十三条の三 → 金融商品取引法 第百九十三条の三 (Article 193-3), art-193-3 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-193-3 · https://japanlaw.org/l/323AC0000000025/art-193-3 ## Cited by 12 provisions cite this one. No official source publishes this direction. - 金融商品取引法 第四十三条の二第一項（分別管理） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-43-2/par-1 · https://japanlaw.org/l/323AC0000000025/art-43-2/par-1 - 金融商品取引法 第四十三条の二第一項第二号（分別管理） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-43-2/par-1/item-2 · https://japanlaw.org/l/323AC0000000025/art-43-2/par-1/item-2 - 金融商品取引法 第四十三条の二第二項（分別管理） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-43-2/par-2 · https://japanlaw.org/l/323AC0000000025/art-43-2/par-2 - 金融商品取引法 第四十三条の二第二項第二号（分別管理） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-43-2/par-2/item-2 · https://japanlaw.org/l/323AC0000000025/art-43-2/par-2/item-2 - 金融商品取引法 第四十三条の二第二項第三号（分別管理） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-43-2/par-2/item-3 · https://japanlaw.org/l/323AC0000000025/art-43-2/par-2/item-3 - 金融商品取引法 第四十三条の二第三項（分別管理） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-43-2/par-3 · https://japanlaw.org/l/323AC0000000025/art-43-2/par-3 - 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 第七十九条の五十九第一項（返還資金融資） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-79-59/par-1 · https://japanlaw.org/l/323AC0000000025/art-79-59/par-1 - 金融商品取引法 第七十九条の五十九第三項（返還資金融資） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-79-59/par-3 · https://japanlaw.org/l/323AC0000000025/art-79-59/par-3 - 金融商品取引法 第七十九条の六十一第一項（迅速な弁済に資するための業務） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-79-61/par-1 · https://japanlaw.org/l/323AC0000000025/art-79-61/par-1 - 金融商品取引法 第百九十八条の五第一項第一号 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-198-5/par-1/item-1 · https://japanlaw.org/l/323AC0000000025/art-198-5/par-1/item-1 - 金融商品取引法 附則第九十四条第一項 — https://japanlaw.org/en/financial-instruments-and-exchange-act/suppl-4181-65/art-94/par-1 · https://japanlaw.org/l/323AC0000000025/suppl-4181-65/art-94/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