# 金融商品取引法 / Financial Instruments and Exchange Act — 第十九条 (Article 19) - 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: 第十九条 (Article 19)（虚偽記載のある届出書の届出者等の賠償責任額） — address `art-19` - 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-19 - Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/323AC0000000025/art-19 - 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. --- ### 第十九条（虚偽記載のある届出書の届出者等の賠償責任額） — (Amount of Compensatory Liability Person Submitting a Securities Registration Statement That Contains a False Statement) caption: Ministry of Justice translation — Japanese Law Translation Database System art-19 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-19 · https://japanlaw.org/l/323AC0000000025/art-19 **第一項** 前条の規定により賠償の責めに任ずべき額は、請求権者が当該有価証券の取得について支払つた額から次の各号の一に掲げる額を控除した額とする。 art-19/par-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-19/par-1 · https://japanlaw.org/l/323AC0000000025/art-19/par-1 The amount of compensation for which a person is liable pursuant to the preceding Article is the amount calculated by deducting the amount specified in each of the following items from the amount that the claimant paid to acquire the securities: Ministry of Justice translation — Japanese Law Translation Database System **一** 前条の規定により損害賠償を請求する時における市場価額（市場価額がないときは、その時における処分推定価額） art-19/par-1/item-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-19/par-1/item-1 · https://japanlaw.org/l/323AC0000000025/art-19/par-1/item-1 the market value of the securities at the time the claimant claims damages pursuant to the preceding Article (or, if they have no market value, their estimated disposal value at such time); or Ministry of Justice translation — Japanese Law Translation Database System **二** 前号の時前に当該有価証券を処分した場合においては、その処分価額 art-19/par-1/item-2 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-19/par-1/item-2 · https://japanlaw.org/l/323AC0000000025/art-19/par-1/item-2 the disposal value of the securities, if they were disposed of before the time referred to in the preceding item. Ministry of Justice translation — Japanese Law Translation Database System **第二項** 前条の規定により賠償の責めに任ずべき者は、当該請求権者が受けた損害の額の全部又は一部が、有価証券届出書又は目論見書のうちに重要な事項について虚偽の記載があり、又は記載すべき重要な事項若しくは誤解を生じさせないために必要な重要な事実の記載が欠けていたことによつて生ずべき当該有価証券の値下り以外の事情により生じたことを証明した場合においては、その全部又は一部については、賠償の責めに任じない。 art-19/par-2 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-19/par-2 · https://japanlaw.org/l/323AC0000000025/art-19/par-2 If the person that would be liable to compensate pursuant to the preceding Article proves that all or part of the damage sustained by the claimant is due to circumstances other than the decline in the value of the securities that would have arisen from the securities registration statement or the prospectus containing a false statement regarding a material particular, lacking a statement of a material particular that is required to be stated, or lacking a statement of a material fact that is necessary to prevent it from being misleading, the person is not liable for the whole or such part of the compensation. Ministry of Justice translation — Japanese Law Translation Database System --- ## Cites - art-19/par-1: 前条 → 金融商品取引法 第十八条 (Article 18), art-18 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-18 · https://japanlaw.org/l/323AC0000000025/art-18 - art-19/par-1/item-1: 前条 → 金融商品取引法 第十八条 (Article 18), art-18 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-18 · https://japanlaw.org/l/323AC0000000025/art-18 - art-19/par-1/item-2: 前号 → 金融商品取引法 第十九条第一項第一号 (Article 19, paragraph (1), item (i)), art-19/par-1/item-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-19/par-1/item-1 · https://japanlaw.org/l/323AC0000000025/art-19/par-1/item-1 - art-19/par-2: 前条 → 金融商品取引法 第十八条 (Article 18), art-18 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-18 · https://japanlaw.org/l/323AC0000000025/art-18 ## Cited by 6 provisions cite this one. No official source publishes this direction. - 金融商品取引法 第十九条第一項第二号（虚偽記載のある届出書の届出者等の賠償責任額） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-19/par-1/item-2 · https://japanlaw.org/l/323AC0000000025/art-19/par-1/item-2 - 金融商品取引法 第二十一条の二第一項（虚偽記載等のある書類の提出者の賠償責任） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-21-2/par-1 · https://japanlaw.org/l/323AC0000000025/art-21-2/par-1 - 金融商品取引法 第二十三条の二第一項（参照方式による場合の適用規定の読替え） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-23-2/par-1 · https://japanlaw.org/l/323AC0000000025/art-23-2/par-1 - 金融商品取引法 第二十三条の十二第五項（発行登録書等に関する準用規定等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-23-12/par-5 · https://japanlaw.org/l/323AC0000000025/art-23-12/par-5 - 金融商品取引法 第二十七条第一項（会社以外の発行者に関する準用規定） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27/par-1 · https://japanlaw.org/l/323AC0000000025/art-27/par-1 - 金融商品取引法 第二十七条の三十三第一項（虚偽の特定証券等情報に係る賠償責任） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-33/par-1 · https://japanlaw.org/l/323AC0000000025/art-27-33/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