# 金融商品取引法 / Financial Instruments and Exchange Act — 第百七十二条 (Article 172)

- 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: 第百七十二条 (Article 172)（届出が受理されていないのに有価証券の募集等をした者等に対する課徴金納付命令） — address `art-172`
- 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-172
- Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/323AC0000000025/art-172
- 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.

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### 第百七十二条（届出が受理されていないのに有価証券の募集等をした者等に対する課徴金納付命令） — (Administrative Monetary Penalty Payment Order Issued to a Person that Conducts a Public Offering of Securities Without Having Its Notification Accepted by the Prime Minister)
<sup>caption: Ministry of Justice translation — Japanese Law Translation Database System</sup>
<sup>art-172 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172 · https://japanlaw.org/l/323AC0000000025/art-172</sup>

  **第一項**  第四条第一項の規定による届出を必要とする有価証券の募集若しくは売出し、同条第二項の規定による届出を必要とする適格機関投資家取得有価証券一般勧誘又は同条第三項の規定による届出を必要とする特定投資家等取得有価証券一般勧誘について、これらの届出が受理されていないのに当該募集若しくは売出し、適格機関投資家取得有価証券一般勧誘又は特定投資家等取得有価証券一般勧誘をした者（売出し、適格機関投資家取得有価証券一般勧誘又は特定投資家等取得有価証券一般勧誘をした者については、自己の所有する有価証券に関してこれらの行為をした者に限る。）があるときは、内閣総理大臣は、次節に定める手続に従い、その者に対し、次の各号に掲げる場合の区分に応じ、当該各号に定める額（次の各号のいずれにも該当する場合は、当該各号に定める額の合計額）に相当する額の課徴金を国庫に納付することを命じなければならない。
  <sup>art-172/par-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172/par-1 · https://japanlaw.org/l/323AC0000000025/art-172/par-1</sup>
  If, in respect of a public offering or secondary distribution of securities subject to a notification under Article 4, paragraph (1), a general solicitation involving securities acquired by a qualified institutional investor subject to a notification under Article 4, paragraph (2), or a general solicitation involving securities acquired by a professional investor subject to a notification under Article 4, paragraph (3), a person conducts a public offering or secondary distribution, or issues a general solicitation involving securities acquired by a qualified institutional investor or a general solicitation involving securities acquired by a professional investor without having their notification accepted by the Prime Minister (for a person that makes a secondary distribution or issues a general solicitation involving securities acquired by a qualified institutional investor or a general solicitation involving securities acquired by a professional investor, this is limited to a person that engages in any of these acts in connection with the securities owned by that person), the Prime Minister, in accordance with the procedures prescribed in the following Section, must order that person to pay an administrative monetary penalty that is equivalent to the amount specified in the following items in accordance with the category of cases set forth in each of those items (if the person falls under both of the following items, the sum of the amounts specified in those items) to the national treasury:
  <sup>Ministry of Justice translation with a slip corrected by this site — not the Ministry's text; the Ministry printed: "If, in respect of a public offering or secondary distribution of securities subject to a notification under Article 4, paragraph (1), a general solicitation involving securities acquired by a qualified institutional investor subject to a notification under Article 4, paragraph (2), or a general solicitation involving securities acquired by a professional investor subject to a notification under Article 4, paragraph (3), a person conducts a public offering or secondary distribution, or issues a general solicitation involving securities acquired by a qualified institutional investor or a general solicitation involving securities acquired by a professional investor without having the their notification accepted by the Prime Minister (for a person that makes a secondary distribution or issues a general solicitation involving securities acquired by a qualified institutional investors or a general solicitation involving securities acquired by a professional investor, this is limited to a person that engages in any of these acts in connection with the securities owned by that person), the Prime Minister, in accordance with the procedures prescribed in the following Section, must order that person to pay an administrative monetary penelty that is equivalent to the amount specified in the following items in accordance with the category of cases set forth in each of those items (if the person falls under both of the following items, the sum of the amounts specified in those items) to the national treasury:" — https://www.japaneselawtranslation.go.jp/en/laws/view/4633/tb</sup>

    **一**  当該募集により有価証券を取得させた場合　当該取得させた有価証券の発行価額の総額（当該有価証券が新株予約権証券その他これに準ずるものとして内閣府令で定める有価証券であるときは、当該新株予約権証券に係る新株予約権の行使に際して払い込むべき金額その他これに準ずるものとして内閣府令で定める額を含む。）の百分の二・二五（当該有価証券が株券等（株券、優先出資法に規定する優先出資証券その他これらに準ずるものとして政令で定める有価証券をいう。以下この条、次条、第百七十二条の九及び第百七十二条の十において同じ。）である場合にあつては、百分の四・五）
    <sup>art-172/par-1/item-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172/par-1/item-1 · https://japanlaw.org/l/323AC0000000025/art-172/par-1/item-1</sup>
    the person causes the securities to be acquired through the public offering:2.25 percent (or 4.5 percent, if the securities are share certificates, etc. (meaning share certificates, preferred equity investment certificates under the Act on Preferred Equity Investment, and other securities specified by Cabinet Order as being equivalent to them; hereinafter the same applies in this Article, the following Article, Article 172-9, and Article 172-10)) of the total issue value of the securities it causes to be acquired (if the securities are share option certificates or any other securities specified by Cabinet Office Order as being equivalent to them, the total issue value includes the amount to be paid in upon the exercise of the share options under the share option certificates or any other amount specified by Cabinet Office Order as being equivalent to this); and
    <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

    **二**  当該売出し、適格機関投資家取得有価証券一般勧誘又は特定投資家等取得有価証券一般勧誘により当該者が所有する有価証券を売り付けた場合　当該売り付けた有価証券の売出価額の総額（当該有価証券が新株予約権証券その他これに準ずるものとして内閣府令で定める有価証券であるときは、当該新株予約権証券に係る新株予約権の行使に際して払い込むべき金額その他これに準ずるものとして内閣府令で定める額を含む。）の百分の二・二五（当該有価証券が株券等である場合にあつては、百分の四・五）
    <sup>art-172/par-1/item-2 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172/par-1/item-2 · https://japanlaw.org/l/323AC0000000025/art-172/par-1/item-2</sup>
    the person sells securities it owns through the secondary distribution, general solicitation involving securities acquired by a qualified institutional investor, or general solicitation involving securities acquired by a professional investor:2.25 percent (or 4.5 percent, if the securities are share certificates, etc.) of the total distribution value of the securities it sells (if the securities are share option certificates or any other securities specified by Cabinet Office Order as being equivalent to them, the total distribution value includes the amount to be paid in upon the exercise of the share options under the share option certificates or any other amount specified by Cabinet Office Order as being equivalent to this).
    <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

  **第二項**  第十五条第一項（第二十七条において準用する場合を含む。）の規定に違反して、同項に規定する有価証券を募集（第四条第一項に規定する有価証券の募集をいう。第百七十三条から第百七十四条の三までを除き、以下この章において同じ。）により取得させた発行者又は売出し（第四条第四項に規定する有価証券の売出しをいう。次項、次条第四項及び第五項、第百七十八条第三項、第五項及び第八項並びに第百八十五条の七第十四項及び第十五項を除き、以下この章において同じ。）により売り付けた者（自己の所有する有価証券を売り付けた者に限る。）があるときは、内閣総理大臣は、次節に定める手続に従い、これらの者に対し、次の各号に掲げる場合の区分に応じ、当該各号に定める額（次の各号のいずれにも該当する場合は、当該各号に定める額の合計額）に相当する額の課徴金を国庫に納付することを命じなければならない。
  <sup>art-172/par-2 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172/par-2 · https://japanlaw.org/l/323AC0000000025/art-172/par-2</sup>
  If an issuer violates the provisions of Article 15, paragraph (1) (including as applied mutatis mutandis pursuant to Article 27) in causing securities set forth in Article 15, paragraph (1) to be acquired through a public offering (meaning a public offering of securities as prescribed in Article 4, paragraph (1); hereinafter the same applies in this Chapter, except in Articles 173 through 174-3) or if a person violates such provisions in selling such securities through a secondary distribution (meaning a secondary distribution of securities prescribed in Article 4, paragraph (4); the same applies in this Chapter, except in the following paragraph; Article 172-2, paragraphs (4) and (5); Article 178, paragraphs (3), (5), and (8); and Article 185-7, paragraphs (14) and (15)) (limited to a person that sells securities that it owns), the Prime Minister, in accordance with the proceedings prescribed in the following Section, must order the issuer or that person to pay an administrative monetary penalty to the national treasury in an amount that is equivalent to the amount specified in the relevant of the following items for the category of cases set forth in that item (or, if the issuer or person falls under both of the following items, the total of the amounts specified in those items):
  <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

    **一**  当該発行者が当該募集により有価証券を取得させた場合　当該取得させた有価証券の発行価額の総額（当該有価証券が新株予約権証券その他これに準ずるものとして内閣府令で定める有価証券であるときは、当該新株予約権証券に係る新株予約権の行使に際して払い込むべき金額その他これに準ずるものとして内閣府令で定める額を含む。）の百分の二・二五（当該有価証券が株券等である場合にあつては、百分の四・五）
    <sup>art-172/par-2/item-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172/par-2/item-1 · https://japanlaw.org/l/323AC0000000025/art-172/par-2/item-1</sup>
    the issuer causes securities to be acquired through such a public offering:2.25 percent (or 4.5 percent, if the securities are share certificates, etc.) of the total issue value of the securities it causes to be acquired (if the securities are share option certificates or any other securities specified by Cabinet Office Order as being equivalent to them, the total issue value includes the amount to be paid in upon the exercise of the share options under those share option certificates or any other amount specified by Cabinet Office Order as being equivalent to this);
    <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

    **二**  当該者が当該売出しにより自己の所有する有価証券を売り付けた場合　当該売り付けた有価証券の売出価額の総額（当該有価証券が新株予約権証券その他これに準ずるものとして内閣府令で定める有価証券であるときは、当該新株予約権証券に係る新株予約権の行使に際して払い込むべき金額その他これに準ずるものとして内閣府令で定める額を含む。）の百分の二・二五（当該有価証券が株券等である場合にあつては、百分の四・五）
    <sup>art-172/par-2/item-2 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172/par-2/item-2 · https://japanlaw.org/l/323AC0000000025/art-172/par-2/item-2</sup>
    the person sells securities that it owns through such a secondary distribution:2.25 percent (or 4.5 percent, if the securities are share certificates, etc.) of the total distribution value of the securities it sells (if the securities are share option certificates or any other securities specified by Cabinet Office Order as being equivalent to them, the total distribution value includes the amount to be paid in upon the exercise of the share options under those share option certificates or any other amount specified by Cabinet Office Order as being equivalent to this).
    <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

  **第三項**  第十五条第二項（第二十七条において準用する場合を含む。）の規定に違反して、目論見書（第十三条第一項に規定する既に開示された有価証券の売出し（同項に規定する有価証券の売出しをいう。以下この項、次条第四項及び第五項、第百七十八条第五項及び第八項並びに第百八十五条の七第十四項において同じ。）に係る目論見書に限る。以下この章において同じ。）を交付しないで売出しにより自己の所有する当該有価証券を売り付けた者があるときは、内閣総理大臣は、次節に定める手続に従い、その者に対し、当該売り付けた有価証券の売出価額の総額（当該有価証券が新株予約権証券その他これに準ずるものとして内閣府令で定める有価証券であるときは、当該新株予約権証券に係る新株予約権の行使に際して払い込むべき金額その他これに準ずるものとして内閣府令で定める額を含む。）の百分の二・二五（当該有価証券が株券等である場合にあつては、百分の四・五）に相当する額の課徴金を国庫に納付することを命じなければならない。
  <sup>art-172/par-3 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172/par-3 · https://japanlaw.org/l/323AC0000000025/art-172/par-3</sup>
  If a person violates the provisions of Article 15, paragraph (2) (including as applied mutatis mutandis pursuant to Article 27) in selling securities that it owns through a secondary distribution without delivering a prospectus (limited to a prospectus in a secondary distribution of securities for which disclosure has already been made as prescribed in Article 13, paragraph (1) (meaning a secondary distribution of the securities prescribed in that paragraph; hereinafter the same applies in this paragraph; Article 172-2, paragraphs (4) and (5); Article 178, paragraphs (5) and (8); and Article 185-7, paragraph (14)); hereinafter the same applies in this Chapter), the Prime Minister, in accordance with the proceedings prescribed in the following Section, must order that person to pay an administrative monetary penalty to the national treasury in an amount that is equivalent to 2.25 percent (or 4.5 percent, if the securities are share certificates, etc.) of the total distribution value of the securities it sells (if the securities are share option certificates or any other securities specified by Cabinet Office Order as being equivalent to them, the total distribution value includes the amount to be paid in upon the exercise of the share options under those share option certificates or any other amount specified by Cabinet Office Order as being equivalent to this).
  <sup>Ministry of Justice translation with a slip corrected by this site — not the Ministry's text; the Ministry printed: "If a person violates the provisions of Article 15, paragraph (2) (including as applied mutatis mutandis pursuant to Article 27) in selling securities that it owns through a secondary distribution without delivering a prospectus (limited to a prospectus in a secondary distribution of securities for which disclosure has already been made as prescribed in Article 13, paragraph (1) (meaning a secondary distribution of the securities prescribed in that paragraph; hereinafter the same applies in this paragraph; Article 172-2, paragraphs (4) and (5); Article 178, paragraphs (5) and (8); and Article 185-7, paragraph (14); hereinafter the same applies in this Chapter), the Prime Minister, in accordance with the proceedings prescribed in the following Section, must order that person to pay an administrative monetary penalty to the national treasury in an amount that is equivalent to 2.25 percent (or 4.5 percent, if the securities are share certificates, etc.) of the total distribution value of the securities it sells (if the securities are share option certificates or any other securities specified by Cabinet Office Order as being equivalent to them, the total distribution value includes the amount to be paid in upon the exercise of the share options under those share option certificates or any other amount specified by Cabinet Office Order as being equivalent to this)." — https://www.japaneselawtranslation.go.jp/en/laws/view/4633/tb</sup>

  **第四項**  第二項の規定は、第二十三条の八第一項（第二十七条において準用する場合を含む。）の規定に違反して、同項に規定する有価証券を募集により取得させた発行者又は売出しにより売り付けた者（自己の所有する有価証券を売り付けた者に限る。）がある場合について準用する。
  <sup>art-172/par-4 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172/par-4 · https://japanlaw.org/l/323AC0000000025/art-172/par-4</sup>
  The provisions of paragraph (2) apply mutatis mutandis if an issuer violates the provisions of Article 23-8, paragraph (1) (including as applied mutatis mutandis pursuant to Article 27) in causing securities specified in that paragraph to be acquired through a public offering or if a person violates such provisions in selling those securities through a secondary distribution (limited to a person selling securities that it owns).
  <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

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## Cites
- art-172/par-1: 第四条第一項 → 金融商品取引法 第四条第一項 (Article 4, paragraph (1)), art-4/par-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-4/par-1 · https://japanlaw.org/l/323AC0000000025/art-4/par-1
- art-172/par-1: 同条第二項 → 金融商品取引法 第四条第二項 (Article 4, paragraph (2)), art-4/par-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-4/par-2 · https://japanlaw.org/l/323AC0000000025/art-4/par-2
- art-172/par-1: 同条第三項 → 金融商品取引法 第四条第三項 (Article 4, paragraph (3)), art-4/par-3 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-4/par-3 · https://japanlaw.org/l/323AC0000000025/art-4/par-3
- art-172/par-1/item-1: この条 → 金融商品取引法 第百七十二条 (Article 172), art-172 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172 · https://japanlaw.org/l/323AC0000000025/art-172
- art-172/par-1/item-1: 次条 → 金融商品取引法 第百七十二条の二 (Article 172-2), art-172-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172-2 · https://japanlaw.org/l/323AC0000000025/art-172-2
- art-172/par-1/item-1: 第百七十二条の九 → 金融商品取引法 第百七十二条の九 (Article 172-9), art-172-9 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172-9 · https://japanlaw.org/l/323AC0000000025/art-172-9
- art-172/par-1/item-1: 第百七十二条の十 → 金融商品取引法 第百七十二条の十 (Article 172-10), art-172-10 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172-10 · https://japanlaw.org/l/323AC0000000025/art-172-10
- art-172/par-2: 第十五条第一項 → 金融商品取引法 第十五条第一項 (Article 15, paragraph (1)), art-15/par-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-15/par-1 · https://japanlaw.org/l/323AC0000000025/art-15/par-1
- art-172/par-2: 第二十七条 → 金融商品取引法 第二十七条 (Article 27), art-27 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27 · https://japanlaw.org/l/323AC0000000025/art-27
- art-172/par-2: 第四条第一項 → 金融商品取引法 第四条第一項 (Article 4, paragraph (1)), art-4/par-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-4/par-1 · https://japanlaw.org/l/323AC0000000025/art-4/par-1
- art-172/par-2: 第百七十三条から第百七十四条の三まで → 金融商品取引法 第百七十三条 (Article 173), art-173 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-173 · https://japanlaw.org/l/323AC0000000025/art-173
- art-172/par-2: 第百七十三条から第百七十四条の三まで → 金融商品取引法 第百七十四条 (Article 174), art-174 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-174 · https://japanlaw.org/l/323AC0000000025/art-174
- art-172/par-2: 第百七十三条から第百七十四条の三まで → 金融商品取引法 第百七十四条の二 (Article 174-2), art-174-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-174-2 · https://japanlaw.org/l/323AC0000000025/art-174-2
- art-172/par-2: 第百七十三条から第百七十四条の三まで → 金融商品取引法 第百七十四条の三 (Article 174-3), art-174-3 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-174-3 · https://japanlaw.org/l/323AC0000000025/art-174-3
- art-172/par-2: 第四条第四項 → 金融商品取引法 第四条第四項 (Article 4, paragraph (4)), art-4/par-4 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-4/par-4 · https://japanlaw.org/l/323AC0000000025/art-4/par-4
- art-172/par-2: 次項 → 金融商品取引法 第百七十二条第三項 (Article 172, paragraph (3)), art-172/par-3 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172/par-3 · https://japanlaw.org/l/323AC0000000025/art-172/par-3
- art-172/par-2: 次条第四項 → 金融商品取引法 第百七十二条の二第四項 (Article 172-2, paragraph (4)), art-172-2/par-4 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172-2/par-4 · https://japanlaw.org/l/323AC0000000025/art-172-2/par-4
- art-172/par-2: 第五項 → 金融商品取引法 第百七十二条の二第五項 (Article 172-2, paragraph (5)), art-172-2/par-5 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172-2/par-5 · https://japanlaw.org/l/323AC0000000025/art-172-2/par-5
- art-172/par-2: 第百七十八条第三項 → 金融商品取引法 第百七十八条第三項 (Article 178, paragraph (3)), art-178/par-3 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-178/par-3 · https://japanlaw.org/l/323AC0000000025/art-178/par-3
- art-172/par-2: 第五項 → 金融商品取引法 第百七十八条第五項 (Article 178, paragraph (5)), art-178/par-5 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-178/par-5 · https://japanlaw.org/l/323AC0000000025/art-178/par-5
- art-172/par-2: 第八項 → 金融商品取引法 第百七十八条第八項 (Article 178, paragraph (8)), art-178/par-8 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-178/par-8 · https://japanlaw.org/l/323AC0000000025/art-178/par-8
- art-172/par-2: 第百八十五条の七第十四項 → 金融商品取引法 第百八十五条の七第十四項 (Article 185-7, paragraph (14)), art-185-7/par-14 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-185-7/par-14 · https://japanlaw.org/l/323AC0000000025/art-185-7/par-14
- art-172/par-2: 第十五項 → 金融商品取引法 第百八十五条の七第十五項 (Article 185-7, paragraph (15)), art-185-7/par-15 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-185-7/par-15 · https://japanlaw.org/l/323AC0000000025/art-185-7/par-15
- art-172/par-3: 第十五条第二項 → 金融商品取引法 第十五条第二項 (Article 15, paragraph (2)), art-15/par-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-15/par-2 · https://japanlaw.org/l/323AC0000000025/art-15/par-2
- art-172/par-3: 第二十七条 → 金融商品取引法 第二十七条 (Article 27), art-27 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27 · https://japanlaw.org/l/323AC0000000025/art-27
- art-172/par-3: 第十三条第一項 → 金融商品取引法 第十三条第一項 (Article 13, paragraph (1)), art-13/par-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-13/par-1 · https://japanlaw.org/l/323AC0000000025/art-13/par-1
- art-172/par-3: この項 → 金融商品取引法 第百七十二条第三項 (Article 172, paragraph (3)), art-172/par-3 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172/par-3 · https://japanlaw.org/l/323AC0000000025/art-172/par-3
- art-172/par-3: 次条第四項 → 金融商品取引法 第百七十二条の二第四項 (Article 172-2, paragraph (4)), art-172-2/par-4 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172-2/par-4 · https://japanlaw.org/l/323AC0000000025/art-172-2/par-4
- art-172/par-3: 第五項 → 金融商品取引法 第百七十二条の二第五項 (Article 172-2, paragraph (5)), art-172-2/par-5 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172-2/par-5 · https://japanlaw.org/l/323AC0000000025/art-172-2/par-5
- art-172/par-3: 第百七十八条第五項 → 金融商品取引法 第百七十八条第五項 (Article 178, paragraph (5)), art-178/par-5 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-178/par-5 · https://japanlaw.org/l/323AC0000000025/art-178/par-5
- art-172/par-3: 第八項 → 金融商品取引法 第百七十八条第八項 (Article 178, paragraph (8)), art-178/par-8 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-178/par-8 · https://japanlaw.org/l/323AC0000000025/art-178/par-8
- art-172/par-3: 第百八十五条の七第十四項 → 金融商品取引法 第百八十五条の七第十四項 (Article 185-7, paragraph (14)), art-185-7/par-14 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-185-7/par-14 · https://japanlaw.org/l/323AC0000000025/art-185-7/par-14
- art-172/par-4: 第二項 → 金融商品取引法 第百七十二条第二項 (Article 172, paragraph (2)), art-172/par-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172/par-2 · https://japanlaw.org/l/323AC0000000025/art-172/par-2
- art-172/par-4: 第二十三条の八第一項 → 金融商品取引法 第二十三条の八第一項 (Article 23-8, paragraph (1)), art-23-8/par-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-23-8/par-1 · https://japanlaw.org/l/323AC0000000025/art-23-8/par-1
- art-172/par-4: 第二十七条 → 金融商品取引法 第二十七条 (Article 27), art-27 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27 · https://japanlaw.org/l/323AC0000000025/art-27

## Cited by

16 provisions cite this one. No official source publishes this direction.

- 金融商品取引法 第百七十二条第一項第一号（届出が受理されていないのに有価証券の募集等をした者等に対する課徴金納付命令） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172/par-1/item-1 · https://japanlaw.org/l/323AC0000000025/art-172/par-1/item-1
- 金融商品取引法 第百七十二条第二項（届出が受理されていないのに有価証券の募集等をした者等に対する課徴金納付命令） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172/par-2 · https://japanlaw.org/l/323AC0000000025/art-172/par-2
- 金融商品取引法 第百七十二条第三項（届出が受理されていないのに有価証券の募集等をした者等に対する課徴金納付命令） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172/par-3 · https://japanlaw.org/l/323AC0000000025/art-172/par-3
- 金融商品取引法 第百七十二条第四項（届出が受理されていないのに有価証券の募集等をした者等に対する課徴金納付命令） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172/par-4 · https://japanlaw.org/l/323AC0000000025/art-172/par-4
- 金融商品取引法 第百七十六条第一項（課徴金の額の端数計算等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-176/par-1 · https://japanlaw.org/l/323AC0000000025/art-176/par-1
- 金融商品取引法 第百七十六条第二項（課徴金の額の端数計算等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-176/par-2 · https://japanlaw.org/l/323AC0000000025/art-176/par-2
- 金融商品取引法 第百七十六条第三項（課徴金の額の端数計算等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-176/par-3 · https://japanlaw.org/l/323AC0000000025/art-176/par-3
- 金融商品取引法 第百七十六条第四項（課徴金の額の端数計算等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-176/par-4 · https://japanlaw.org/l/323AC0000000025/art-176/par-4
- 金融商品取引法 第百七十八条第一項第一号（審判手続開始の決定） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-178/par-1/item-1 · https://japanlaw.org/l/323AC0000000025/art-178/par-1/item-1
- 金融商品取引法 第百七十八条第三項（審判手続開始の決定） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-178/par-3 · https://japanlaw.org/l/323AC0000000025/art-178/par-3
- 金融商品取引法 第百八十五条の七第一項（課徴金の納付命令の決定等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-185-7/par-1 · https://japanlaw.org/l/323AC0000000025/art-185-7/par-1
- 金融商品取引法 第百八十五条の七第二項（課徴金の納付命令の決定等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-185-7/par-2 · https://japanlaw.org/l/323AC0000000025/art-185-7/par-2
- 金融商品取引法 第百八十五条の七第三項（課徴金の納付命令の決定等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-185-7/par-3 · https://japanlaw.org/l/323AC0000000025/art-185-7/par-3
- 金融商品取引法 第百八十五条の七第十五項（課徴金の納付命令の決定等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-185-7/par-15 · https://japanlaw.org/l/323AC0000000025/art-185-7/par-15
- 金融商品取引法 附則第五条第一項 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/suppl-4201-65/art-5/par-1 · https://japanlaw.org/l/323AC0000000025/suppl-4201-65/art-5/par-1
- 金融商品取引法 附則第六条第二項 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/suppl-4201-65/art-6/par-2 · https://japanlaw.org/l/323AC0000000025/suppl-4201-65/art-6/par-2

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## Sources

- claude-opus-5-5 — Corrections to the Ministry of Justice's English of paragraphs, written 2026-10-23
- 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 (金融商品取引法), Article 172, paragraph (1) — the Ministry of Justice's English as printed (https://www.japaneselawtranslation.go.jp/en/laws/view/4633/tb), retrieved 2026-10-22
- Japanese Law Translation Database System, Ministry of Justice (法務省) — Financial Instruments and Exchange Act (金融商品取引法), Article 172, paragraph (3) — the Ministry of Justice's English as printed (https://www.japaneselawtranslation.go.jp/en/laws/view/4633/tb), 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