# 金融商品取引法 / Financial Instruments and Exchange Act — 第百六十五条 (Article 165) - 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: 第百六十五条 (Article 165)（上場会社等の役員等の禁止行為） — address `art-165` - Text in force since: 2026-08-12 - URL (the page that opens at this provision): https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-165 - Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/323AC0000000025/art-165 - 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. --- ### 第百六十五条（上場会社等の役員等の禁止行為） — (Acts Prohibited for the Officer of a Listed Company) caption: Ministry of Justice translation — Japanese Law Translation Database System art-165 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-165 · https://japanlaw.org/l/323AC0000000025/art-165 **第一項** 上場会社等の役員又は主要株主は、次に掲げる行為をしてはならない。 art-165/par-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-165/par-1 · https://japanlaw.org/l/323AC0000000025/art-165/par-1 It is prohibited for the officer or major shareholder of a listed company, etc. to engage in the following acts: Ministry of Justice translation — Japanese Law Translation Database System **一** 当該上場会社等の特定有価証券等の売付けその他の取引で政令で定めるもの（以下この条及び次条第十六項において「特定取引」という。）であつて、当該特定取引に係る特定有価証券の額（特定有価証券の売付けについてはその売付けに係る特定有価証券の額を、その他の取引については内閣府令で定める額をいう。）が、その者が有する当該上場会社等の同種の特定有価証券の額として内閣府令で定める額を超えるもの art-165/par-1/item-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-165/par-1/item-1 · https://japanlaw.org/l/323AC0000000025/art-165/par-1/item-1 sale of regulated securities, etc. of the listed company, etc. or other transactions specified by Cabinet Order (hereinafter referred to as "specified transactions" in this Article and paragraph (16) of the following Article), for which the amount of regulated securities subject to the specified transactions (meaning the amount of regulated securities sold in the case of a sale of regulated securities, or the amount specified by Cabinet Office Order for other transactions) exceeds the amount specified by Cabinet Office Order as the amount of regulated securities that are of the same type as the regulated securities of the listed company, etc. that the officer or major shareholder holds; or machine translation, not official **二** 当該上場会社等の特定有価証券等に係る売付け等（特定取引を除く。）であつて、その売付け等において授受される金銭の額を算出する基礎となる特定有価証券の数量として内閣府令で定める数量が、その者が有する当該上場会社等の同種の特定有価証券の数量として内閣府令で定める数量を超えるもの art-165/par-1/item-2 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-165/par-1/item-2 · https://japanlaw.org/l/323AC0000000025/art-165/par-1/item-2 conducting a sale, etc. of regulated securities, etc. of the listed company, etc. (other than a specified transaction), in which the volume of the regulated securities, etc. specified by Cabinet Office Order as the basis to be used for calculating the amount paid or received in the sale, etc. exceeds the volume specified by Cabinet Office Order as the volume for regulated securities that are of the same type as the regulated securities of the listed company, etc. that the officer or major shareholder holds. Ministry of Justice translation — Japanese Law Translation Database System --- ## Cites - art-165/par-1/item-1: この条 → 金融商品取引法 第百六十五条 (Article 165), art-165 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-165 · https://japanlaw.org/l/323AC0000000025/art-165 - art-165/par-1/item-1: 次条第十六項 → 金融商品取引法 第百六十五条の二第十六項 (Article 165-2, paragraph (16)), art-165-2/par-16 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-165-2/par-16 · https://japanlaw.org/l/323AC0000000025/art-165-2/par-16 ## Cited by 5 provisions cite this one. No official source publishes this direction. - 金融商品取引法 第二十一条第一項第一号（虚偽記載のある届出書の提出会社の役員等の賠償責任） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-21/par-1/item-1 · https://japanlaw.org/l/323AC0000000025/art-21/par-1/item-1 - 金融商品取引法 第百六十三条第一項（上場会社等の役員等による特定有価証券等の売買等の報告の提出） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-163/par-1 · https://japanlaw.org/l/323AC0000000025/art-163/par-1 - 金融商品取引法 第百六十五条第一項第一号（上場会社等の役員等の禁止行為） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-165/par-1/item-1 · https://japanlaw.org/l/323AC0000000025/art-165/par-1/item-1 - 金融商品取引法 第百六十五条の二第十七項（特定組合等の財産に属する特定有価証券等の取扱い） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-165-2/par-17 · https://japanlaw.org/l/323AC0000000025/art-165-2/par-17 - 金融商品取引法 第二百五条第一項第二十号 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-205/par-1/item-20 · https://japanlaw.org/l/323AC0000000025/art-205/par-1/item-20 --- ## 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-20261023T033157-017, 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