# 金融商品取引法 / Financial Instruments and Exchange Act — 第三十三条 (Article 33) - 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: 第三十三条 (Article 33)（金融機関の有価証券関連業の禁止等） — address `art-33` - 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-33 - Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/323AC0000000025/art-33 - 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. --- ### 第三十三条（金融機関の有価証券関連業の禁止等） — (Prohibition on Engagement in Securities Services by Financial Institutions) caption: Ministry of Justice translation — Japanese Law Translation Database System art-33 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33 · https://japanlaw.org/l/323AC0000000025/art-33 **第一項** 銀行、協同組織金融機関その他政令で定める金融機関（以下この条及び次条において「金融機関」という。）は、有価証券関連業又は投資運用業を行つてはならない。ただし、有価証券関連業については、金融機関が他の法律の定めるところにより投資の目的をもつて、又は信託契約に基づいて信託をする者の計算において有価証券の売買若しくは有価証券関連デリバティブ取引を行う場合は、この限りでない。 art-33/par-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-1 · https://japanlaw.org/l/323AC0000000025/art-33/par-1 It is prohibited for a bank or cooperative financial institution, or for any other financial institution specified by Cabinet Order (hereinafter collectively referred to as a "financial institution" in this Article and the following Article) to engage in securities services or investment management business; provided, however, that with regard to securities services, this does not apply if the financial institution conducts the purchase and sale of securities or securities-related derivatives transactions for the purpose of investment pursuant to the provisions of other Acts or on the account of a person that entrusts it to do so based on a trust contract. machine translation, not official **第二項** 前項本文の規定は、金融機関が、書面取次ぎ行為（顧客の書面による注文を受けてその計算において有価証券の売買又は有価証券関連デリバティブ取引を行うことをいい、当該注文に関する顧客に対する勧誘に基づき行われるもの及び当該金融機関が行う投資助言業務に関しその顧客から注文を受けて行われるものを除く。次条第一号において同じ。）又は次の各号に掲げる有価証券若しくは取引について、当該各号に定める行為を行う場合には、適用しない。 art-33/par-2 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-2 · https://japanlaw.org/l/323AC0000000025/art-33/par-2 The provisions of the main clause of the preceding paragraph do not apply if a financial institution conducts brokerage with written orders (meaning conducting a purchase and sale of securities or a securities-related derivatives transaction on a customer's account upon receiving written orders from the customer, and excluding transactions conducted based on its solicitation of a customer for such an order and transactions conducted upon the receipt of an order from the customer in connection with the financial institution's investment advisory business; the same applies in item (i) of the following Article) or performs the act set forth in the relevant of the following items in connection with the securities or transactions set forth in that item: Ministry of Justice translation — Japanese Law Translation Database System **一** 第二条第一項第一号及び第二号に掲げる有価証券、同項第三号に掲げる有価証券（政府が元本の償還及び利息の支払について保証しているもの並びに信用金庫法（昭和二十六年法律第二百三十八号）第五十四条の四第一項に規定する短期債及び農林中央金庫法（平成十三年法律第九十三号）第六十二条の二第一項に規定する短期農林債に限る。）、第二条第一項第四号に掲げる有価証券、同項第五号に掲げる有価証券（政府が元本の償還及び利息の支払について保証しているもの並びに社債、株式等の振替に関する法律第六十六条第一号に規定する短期社債及びこれに類するものとして政令で定めるものに限る。）、第二条第一項第八号に掲げる有価証券、同項第十一号に掲げる有価証券（投資信託及び投資法人に関する法律第百三十九条の十二第一項に規定する短期投資法人債及びこれに類するものとして政令で定めるものに限る。次号において「短期投資法人債等」という。）、第二条第一項第十二号から第十四号までに掲げる有価証券、同項第十五号に掲げる有価証券（発行の日から償還の日までの期間が一年未満のものに限る。）、同項第十六号に掲げる有価証券、同項第十七号に掲げる有価証券のうち政令で定めるもの、同項第十八号に掲げる有価証券、同項第二十一号に掲げる有価証券のうち政令で定めるもの並びに同条第二項の規定により有価証券とみなされる同項各号に掲げる権利（同項第三号若しくは第四号に掲げる権利又は電子記録移転権利であつて政令で定めるものを除く。）　同条第八項第一号から第三号まで、第六号、第八号及び第九号に掲げる行為 art-33/par-2/item-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-2/item-1 · https://japanlaw.org/l/323AC0000000025/art-33/par-2/item-1 securities set forth in Article 2, paragraph (1), items (i) and (ii); securities set forth in Article 2, paragraph (1), item (iii) (limited to those for which the government guarantees the redemption of the principal and the payment of interest, short-term bonds prescribed in Article 54-4, paragraph (1) of the Shinkin Bank Act (Act No. 238 of 1951), and short-term agriculture and forestry bonds prescribed in Article 62-2, paragraph (1) of the Norinchukin Bank Act (Act No. 93 of 2001)); securities set forth in Article 2, paragraph (1), item (iv); securities set forth in Article 2, paragraph (1), item (v) (limited to those for which the government guarantees the redemption of the principal and the payment of interest, and short-term corporate bonds prescribed in Article 66, item (i) of the Act on Book-Entry Transfer of Corporate Bonds and Shares or those specified by Cabinet Order as similar to these); securities set forth in Article 2, paragraph (1), item (viii); securities set forth in Article 2, paragraph (1), item (xi) (limited to short-term investment corporation bonds prescribed in Article 139-12, paragraph (1) of the Act on Investment Trusts and Investment Corporations and those specified by Cabinet Order as similar to these; referred to as "short-term investment corporation bonds, etc." in the following item); securities set forth in Article 2, paragraph (1), items (xii) through (xiv); securities set forth in Article 2, paragraph (1), item (xv) (limited to those with a term between the day of issuance and the day of redemption of less than one year); securities set forth in Article 2, paragraph (1), item (xvi); securities specified by Cabinet Order among those set forth in Article 2, paragraph (1), item (xvii); securities set forth in Article 2, paragraph (1), item (xviii); securities specified by Cabinet Order among those set forth in Article 2, paragraph (1), item (xxi); and rights set forth in the items of Article 2, paragraph (2) that are deemed to be securities pursuant to the provisions of that paragraph (excluding the rights set forth in item (iii) or (iv) of that paragraph or electronically recorded transferable rights that are specified by Cabinet Order): acts set forth in Article 2, paragraph (8), items (i) through (iii), (vi), (viii), and (ix); machine translation, not official **二** 第二条第一項第十号及び第十一号に掲げる有価証券（短期投資法人債等を除く。）　同条第八項第一号から第三号までに掲げる行為及び同項第九号に掲げる行為（有価証券の売出しの取扱い及び特定投資家向け売付け勧誘等の取扱いを除く。） art-33/par-2/item-2 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-2/item-2 · https://japanlaw.org/l/323AC0000000025/art-33/par-2/item-2 securities set forth in Article 2, paragraph (1), items (x) and (xi) (excluding short-term investment corporation bonds, etc.):acts set forth in Article 2, paragraph (8), items (i) through (iii), and acts set forth in Article 2, paragraph (8), item (ix) (excluding dealings in a secondary distribution of securities and in a solicitation for selling, etc. only for professional investors); Ministry of Justice translation — Japanese Law Translation Database System **三** 第二条第一項第十七号に掲げる有価証券のうち同項第一号の性質を有するもの　次に掲げる行為 art-33/par-2/item-3 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-2/item-3 · https://japanlaw.org/l/323AC0000000025/art-33/par-2/item-3 securities set forth in Article 2, paragraph (1), item (xvii) that have the nature set forth in Article 2, paragraph (1), item (i): the following acts: Ministry of Justice translation — Japanese Law Translation Database System **イ** 市場デリバティブ取引及び外国市場デリバティブ取引並びにこれらに係る第二条第八項第二号又は第三号に掲げる行為 art-33/par-2/item-3/sub-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-2/item-3/sub-1 · https://japanlaw.org/l/323AC0000000025/art-33/par-2/item-3/sub-1 market derivatives transactions, foreign market derivatives transaction, and acts set forth in Article 2, paragraph (8), item (ii) or (iii) in connection with these transactions; Ministry of Justice translation — Japanese Law Translation Database System **ロ** 私募の取扱い art-33/par-2/item-3/sub-2 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-2/item-3/sub-2 · https://japanlaw.org/l/323AC0000000025/art-33/par-2/item-3/sub-2 dealings in a private placement; and Ministry of Justice translation — Japanese Law Translation Database System **ハ** 金融商品取引業者（第一種金融商品取引業を行う者に限る。）の委託を受けて、当該金融商品取引業者のために行う第二条第十一項第一号から第三号までに掲げる行為（イ及びロに掲げるものを除く。） art-33/par-2/item-3/sub-3 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-2/item-3/sub-3 · https://japanlaw.org/l/323AC0000000025/art-33/par-2/item-3/sub-3 acts set forth in Article 2, paragraph (11), items (i) through (iii) (excluding those set forth in (a) and (b)) that the financial institution is entrusted with by a financial instruments business operator (limited to those engaged in type-I financial instruments business) and performs for that financial instruments business operator; Ministry of Justice translation — Japanese Law Translation Database System **四** 前三号に掲げる有価証券以外の有価証券　次に掲げる行為 art-33/par-2/item-4 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-2/item-4 · https://japanlaw.org/l/323AC0000000025/art-33/par-2/item-4 securities other than those set forth in the preceding three items: the following acts: machine translation, not official **イ** 私募の取扱い（政令で定める有価証券に係るものを除く。） art-33/par-2/item-4/sub-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-2/item-4/sub-1 · https://japanlaw.org/l/323AC0000000025/art-33/par-2/item-4/sub-1 dealings in a private placement (excluding those involving securities specified by Cabinet Order); and Ministry of Justice translation — Japanese Law Translation Database System **ロ** 金融商品取引業者（第一種金融商品取引業を行う者に限る。）の委託を受けて、当該金融商品取引業者のために行う第二条第十一項第一号から第三号までに掲げる行為（イに掲げるものを除く。） art-33/par-2/item-4/sub-2 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-2/item-4/sub-2 · https://japanlaw.org/l/323AC0000000025/art-33/par-2/item-4/sub-2 acts set forth in Article 2, paragraph (11), items (i) through (iii) (excluding those set forth in (a)) that the financial institution is entrusted with by a financial instruments business operator (limited to those engaged in type-I financial instruments business) and performs for that financial instruments business operator; Ministry of Justice translation — Japanese Law Translation Database System **五** 次に掲げる取引　第二条第八項第四号に掲げる行為（ロに掲げる取引については、多数の者を相手方として行う場合として政令で定める場合に該当するものを除く。） art-33/par-2/item-5 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-2/item-5 · https://japanlaw.org/l/323AC0000000025/art-33/par-2/item-5 the following transactions: acts set forth in Article 2, paragraph (8), item (iv) (with regard to transactions set forth in (b), excluding those that fall under the category of cases specified by Cabinet Order as those in which the transaction is conducted with a large number of persons as the other parties thereto): Ministry of Justice translation — Japanese Law Translation Database System **イ** 第一号に掲げる有価証券（当該有価証券に係る二以上の有価証券の価格に基づき当事者間で取り決めた方法により算出される指数を含む。）に係る店頭デリバティブ取引 art-33/par-2/item-5/sub-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-2/item-5/sub-1 · https://japanlaw.org/l/323AC0000000025/art-33/par-2/item-5/sub-1 over-the-counter derivatives transactions of securities set forth in item (i) (including indices calculated by the method agreed upon between the parties based on the prices of two or more securities connected with the relevant securities); and Ministry of Justice translation — Japanese Law Translation Database System **ロ** 前三号に掲げる有価証券（当該有価証券に係る二以上の有価証券の価格に基づき当事者間で取り決めた方法により算出される指数を含む。）に係る店頭デリバティブ取引のうち決済方法が差金の授受に限られているもの art-33/par-2/item-5/sub-2 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-2/item-5/sub-2 · https://japanlaw.org/l/323AC0000000025/art-33/par-2/item-5/sub-2 over-the-counter derivatives transactions that are connected with the securities set forth in the preceding three items (including indices calculated by the method agreed between the parties based on prices of two or more securities related to the relevant securities), and that can only be settled through the delivery and receipt of the difference in prices; Ministry of Justice translation — Japanese Law Translation Database System **六** 有価証券の売買及び有価証券関連デリバティブ取引その他政令で定める取引　有価証券等清算取次ぎ art-33/par-2/item-6 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-2/item-6 · https://japanlaw.org/l/323AC0000000025/art-33/par-2/item-6 the purchase and sale of securities, securities-related derivatives transactions, and other transactions specified by Cabinet Order:brokerage for clearing of securities, etc. Ministry of Justice translation — Japanese Law Translation Database System **第三項** 第二十九条の規定は、金融機関が、次に掲げる行為（以下「デリバティブ取引等」という。）のうち第二十八条第八項第三号から第六号までに掲げるもの（以下「有価証券関連デリバティブ取引等」という。）以外のものを業として行う場合、第二条第八項第五号に掲げる行為のうち第二十八条第八項第七号に掲げるもの以外のものを業として行う場合、第二条第八項第七号に掲げる行為を業として行う場合、投資助言・代理業を行う場合又は有価証券等管理業務を行う場合若しくはこれに準ずる場合として政令で定める行為を業として行う場合には、適用しない。 art-33/par-3 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-3 · https://japanlaw.org/l/323AC0000000025/art-33/par-3 The provisions of Article 29 do not apply if a financial institution performs on a regular basis acts, among the following acts (hereinafter referred to as "derivatives transactions, etc."), other than those set forth in Article 28, paragraph (8), items (iii) through (vi) (hereinafter referred to as "securities-related derivatives transactions, etc."), performs acts other than those set forth in Article 28, paragraph (8), item (vii) among those specified in Article 2, paragraph (8), item (v) on a regular basis, performs acts set forth in Article 2, paragraph (8), item (vii) on a regular basis, provides investment advisory and agency business, or provides securities, etc. management or performs on a regular basis acts specified by Cabinet Order as cases equivalent thereto: machine translation, not official **一** 市場デリバティブ取引等（市場デリバティブ取引又はこれに係る第二条第八項第二号若しくは第三号に掲げる行為をいう。） art-33/par-3/item-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-3/item-1 · https://japanlaw.org/l/323AC0000000025/art-33/par-3/item-1 market derivatives transactions, etc. (meaning market derivatives transactions or acts set forth in Article 2, paragraph (8), item (ii) or (iii) in connection with the transactions); Ministry of Justice translation — Japanese Law Translation Database System **二** 店頭デリバティブ取引等 art-33/par-3/item-2 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-3/item-2 · https://japanlaw.org/l/323AC0000000025/art-33/par-3/item-2 over-the-counter derivatives transactions, etc.; and Ministry of Justice translation — Japanese Law Translation Database System **三** 外国市場デリバティブ取引等（外国市場デリバティブ取引又はこれに係る第二条第八項第二号若しくは第三号に掲げる行為をいう。） art-33/par-3/item-3 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-3/item-3 · https://japanlaw.org/l/323AC0000000025/art-33/par-3/item-3 foreign market derivatives transaction, etc. (meaning foreign market derivatives transaction or acts set forth in Article 2, paragraph (8), item (ii) or (iii) in connection with the transaction). Ministry of Justice translation — Japanese Law Translation Database System --- ## Cites - art-33/par-1: この条 → 金融商品取引法 第三十三条 (Article 33), art-33 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33 · https://japanlaw.org/l/323AC0000000025/art-33 - art-33/par-1: 次条 → 金融商品取引法 第三十三条の二 (Article 33-2), art-33-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33-2 · https://japanlaw.org/l/323AC0000000025/art-33-2 - art-33/par-2: 前項 → 金融商品取引法 第三十三条第一項 (Article 33, paragraph (1)), art-33/par-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-1 · https://japanlaw.org/l/323AC0000000025/art-33/par-1 - art-33/par-2: 次条第一号 → 金融商品取引法 第三十三条の二第一項第一号 (Article 33-2, paragraph (1), item (i)), art-33-2/par-1/item-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33-2/par-1/item-1 · https://japanlaw.org/l/323AC0000000025/art-33-2/par-1/item-1 - art-33/par-2/item-1: 第二条第一項第一号 → 金融商品取引法 第二条第一項第一号 (Article 2, paragraph (1), item (i)), art-2/par-1/item-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-1/item-1 · https://japanlaw.org/l/323AC0000000025/art-2/par-1/item-1 - art-33/par-2/item-1: 第二号 → 金融商品取引法 第二条第一項第二号 (Article 2, paragraph (1), item (ii)), art-2/par-1/item-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-1/item-2 · https://japanlaw.org/l/323AC0000000025/art-2/par-1/item-2 - art-33/par-2/item-1: 同項第三号 → 金融商品取引法 第二条第一項第三号 (Article 2, paragraph (1), item (iii)), art-2/par-1/item-3 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-1/item-3 · https://japanlaw.org/l/323AC0000000025/art-2/par-1/item-3 - art-33/par-2/item-1: 信用金庫法（昭和二十六年法律第二百三十八号）第五十四条の四第一項 → e-Gov law 326AC1000000238, 第五十四条の四第一項 (Article 54-4, paragraph (1)), art-54-4/par-1 — not held in this collection - art-33/par-2/item-1: 農林中央金庫法（平成十三年法律第九十三号）第六十二条の二第一項 → e-Gov law 413AC0000000093, 第六十二条の二第一項 (Article 62-2, paragraph (1)), art-62-2/par-1 — not held in this collection - art-33/par-2/item-1: 第二条第一項第四号 → 金融商品取引法 第二条第一項第四号 (Article 2, paragraph (1), item (iv)), art-2/par-1/item-4 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-1/item-4 · https://japanlaw.org/l/323AC0000000025/art-2/par-1/item-4 - art-33/par-2/item-1: 同項第五号 → 金融商品取引法 第二条第一項第五号 (Article 2, paragraph (1), item (v)), art-2/par-1/item-5 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-1/item-5 · https://japanlaw.org/l/323AC0000000025/art-2/par-1/item-5 - art-33/par-2/item-1: 第二条第一項第八号 → 金融商品取引法 第二条第一項第八号 (Article 2, paragraph (1), item (viii)), art-2/par-1/item-8 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-1/item-8 · https://japanlaw.org/l/323AC0000000025/art-2/par-1/item-8 - art-33/par-2/item-1: 同項第十一号 → 金融商品取引法 第二条第一項第十一号 (Article 2, paragraph (1), item (xi)), art-2/par-1/item-11 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-1/item-11 · https://japanlaw.org/l/323AC0000000025/art-2/par-1/item-11 - art-33/par-2/item-1: 投資信託及び投資法人に関する法律第百三十九条の十二第一項 → e-Gov law 326AC0100000198, 第百三十九条の十二第一項 (Article 139-12, paragraph (1)), art-139-12/par-1 — not held in this collection - art-33/par-2/item-1: 次号 → 金融商品取引法 第三十三条第二項第二号 (Article 33, paragraph (2), item (ii)), art-33/par-2/item-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-2/item-2 · https://japanlaw.org/l/323AC0000000025/art-33/par-2/item-2 - art-33/par-2/item-1: 第二条第一項第十二号から第十四号まで → 金融商品取引法 第二条第一項第十二号 (Article 2, paragraph (1), item (xii)), art-2/par-1/item-12 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-1/item-12 · https://japanlaw.org/l/323AC0000000025/art-2/par-1/item-12 - art-33/par-2/item-1: 第二条第一項第十二号から第十四号まで → 金融商品取引法 第二条第一項第十三号 (Article 2, paragraph (1), item (xiii)), art-2/par-1/item-13 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-1/item-13 · https://japanlaw.org/l/323AC0000000025/art-2/par-1/item-13 - art-33/par-2/item-1: 第二条第一項第十二号から第十四号まで → 金融商品取引法 第二条第一項第十四号 (Article 2, paragraph (1), item (xiv)), art-2/par-1/item-14 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-1/item-14 · https://japanlaw.org/l/323AC0000000025/art-2/par-1/item-14 - art-33/par-2/item-1: 同項第十五号 → 金融商品取引法 第二条第一項第十五号 (Article 2, paragraph (1), item (xv)), art-2/par-1/item-15 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-1/item-15 · https://japanlaw.org/l/323AC0000000025/art-2/par-1/item-15 - art-33/par-2/item-1: 同項第十六号 → 金融商品取引法 第二条第一項第十六号 (Article 2, paragraph (1), item (xvi)), art-2/par-1/item-16 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-1/item-16 · https://japanlaw.org/l/323AC0000000025/art-2/par-1/item-16 - art-33/par-2/item-1: 同項第十七号 → 金融商品取引法 第二条第一項第十七号 (Article 2, paragraph (1), item (xvii)), art-2/par-1/item-17 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-1/item-17 · https://japanlaw.org/l/323AC0000000025/art-2/par-1/item-17 - art-33/par-2/item-1: 同項第十八号 → 金融商品取引法 第二条第一項第十八号 (Article 2, paragraph (1), item (xviii)), art-2/par-1/item-18 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-1/item-18 · https://japanlaw.org/l/323AC0000000025/art-2/par-1/item-18 - art-33/par-2/item-1: 同項第二十一号 → 金融商品取引法 第二条第一項第二十一号 (Article 2, paragraph (1), item (xxi)), art-2/par-1/item-21 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-1/item-21 · https://japanlaw.org/l/323AC0000000025/art-2/par-1/item-21 - art-33/par-2/item-1: 同条第二項 → 金融商品取引法 第二条第二項 (Article 2, paragraph (2)), art-2/par-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-2 · https://japanlaw.org/l/323AC0000000025/art-2/par-2 - art-33/par-2/item-1: 同項第三号 → 金融商品取引法 第二条第二項第三号 (Article 2, paragraph (2), item (iii)), art-2/par-2/item-3 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-2/item-3 · https://japanlaw.org/l/323AC0000000025/art-2/par-2/item-3 - art-33/par-2/item-1: 第四号 → 金融商品取引法 第二条第二項第四号 (Article 2, paragraph (2), item (iv)), art-2/par-2/item-4 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-2/item-4 · https://japanlaw.org/l/323AC0000000025/art-2/par-2/item-4 - art-33/par-2/item-1: 同条第八項第一号から第三号まで → 金融商品取引法 第二条第八項第一号 (Article 2, paragraph (8), item (i)), art-2/par-8/item-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-8/item-1 · https://japanlaw.org/l/323AC0000000025/art-2/par-8/item-1 - art-33/par-2/item-1: 同条第八項第一号から第三号まで → 金融商品取引法 第二条第八項第二号 (Article 2, paragraph (8), item (ii)), art-2/par-8/item-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-8/item-2 · https://japanlaw.org/l/323AC0000000025/art-2/par-8/item-2 - art-33/par-2/item-1: 同条第八項第一号から第三号まで → 金融商品取引法 第二条第八項第三号 (Article 2, paragraph (8), item (iii)), art-2/par-8/item-3 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-8/item-3 · https://japanlaw.org/l/323AC0000000025/art-2/par-8/item-3 - art-33/par-2/item-1: 第六号 → 金融商品取引法 第二条第八項第六号 (Article 2, paragraph (8), item (vi)), art-2/par-8/item-6 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-8/item-6 · https://japanlaw.org/l/323AC0000000025/art-2/par-8/item-6 - art-33/par-2/item-1: 第八号 → 金融商品取引法 第二条第八項第八号 (Article 2, paragraph (8), item (viii)), art-2/par-8/item-8 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-8/item-8 · https://japanlaw.org/l/323AC0000000025/art-2/par-8/item-8 - art-33/par-2/item-1: 第九号 → 金融商品取引法 第二条第八項第九号 (Article 2, paragraph (8), item (ix)), art-2/par-8/item-9 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-8/item-9 · https://japanlaw.org/l/323AC0000000025/art-2/par-8/item-9 - art-33/par-2/item-2: 第二条第一項第十号 → 金融商品取引法 第二条第一項第十号 (Article 2, paragraph (1), item (x)), art-2/par-1/item-10 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-1/item-10 · https://japanlaw.org/l/323AC0000000025/art-2/par-1/item-10 - art-33/par-2/item-2: 第十一号 → 金融商品取引法 第二条第一項第十一号 (Article 2, paragraph (1), item (xi)), art-2/par-1/item-11 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-1/item-11 · https://japanlaw.org/l/323AC0000000025/art-2/par-1/item-11 - art-33/par-2/item-2: 同条第八項第一号から第三号まで → 金融商品取引法 第二条第八項第一号 (Article 2, paragraph (8), item (i)), art-2/par-8/item-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-8/item-1 · https://japanlaw.org/l/323AC0000000025/art-2/par-8/item-1 - art-33/par-2/item-2: 同条第八項第一号から第三号まで → 金融商品取引法 第二条第八項第二号 (Article 2, paragraph (8), item (ii)), art-2/par-8/item-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-8/item-2 · https://japanlaw.org/l/323AC0000000025/art-2/par-8/item-2 - art-33/par-2/item-2: 同条第八項第一号から第三号まで → 金融商品取引法 第二条第八項第三号 (Article 2, paragraph (8), item (iii)), art-2/par-8/item-3 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-8/item-3 · https://japanlaw.org/l/323AC0000000025/art-2/par-8/item-3 - art-33/par-2/item-2: 同項第九号 → 金融商品取引法 第二条第八項第九号 (Article 2, paragraph (8), item (ix)), art-2/par-8/item-9 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-8/item-9 · https://japanlaw.org/l/323AC0000000025/art-2/par-8/item-9 - art-33/par-2/item-3: 第二条第一項第十七号 → 金融商品取引法 第二条第一項第十七号 (Article 2, paragraph (1), item (xvii)), art-2/par-1/item-17 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-1/item-17 · https://japanlaw.org/l/323AC0000000025/art-2/par-1/item-17 - art-33/par-2/item-3: 同項第一号 → 金融商品取引法 第二条第一項第一号 (Article 2, paragraph (1), item (i)), art-2/par-1/item-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-1/item-1 · https://japanlaw.org/l/323AC0000000025/art-2/par-1/item-1 - art-33/par-2/item-3/sub-1: 第二条第八項第二号 → 金融商品取引法 第二条第八項第二号 (Article 2, paragraph (8), item (ii)), art-2/par-8/item-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-8/item-2 · https://japanlaw.org/l/323AC0000000025/art-2/par-8/item-2 - art-33/par-2/item-3/sub-1: 第三号 → 金融商品取引法 第二条第八項第三号 (Article 2, paragraph (8), item (iii)), art-2/par-8/item-3 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-8/item-3 · https://japanlaw.org/l/323AC0000000025/art-2/par-8/item-3 - art-33/par-2/item-3/sub-3: 第二条第十一項第一号から第三号まで → 金融商品取引法 第二条第十一項第一号 (Article 2, paragraph (11), item (i)), art-2/par-11/item-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-11/item-1 · https://japanlaw.org/l/323AC0000000025/art-2/par-11/item-1 - art-33/par-2/item-3/sub-3: 第二条第十一項第一号から第三号まで → 金融商品取引法 第二条第十一項第二号 (Article 2, paragraph (11), item (ii)), art-2/par-11/item-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-11/item-2 · https://japanlaw.org/l/323AC0000000025/art-2/par-11/item-2 - art-33/par-2/item-3/sub-3: 第二条第十一項第一号から第三号まで → 金融商品取引法 第二条第十一項第三号 (Article 2, paragraph (11), item (iii)), art-2/par-11/item-3 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-11/item-3 · https://japanlaw.org/l/323AC0000000025/art-2/par-11/item-3 - art-33/par-2/item-4: 前三号 → 金融商品取引法 第三十三条第二項第一号 (Article 33, paragraph (2), item (i)), art-33/par-2/item-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-2/item-1 · https://japanlaw.org/l/323AC0000000025/art-33/par-2/item-1 - art-33/par-2/item-4: 前三号 → 金融商品取引法 第三十三条第二項第二号 (Article 33, paragraph (2), item (ii)), art-33/par-2/item-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-2/item-2 · https://japanlaw.org/l/323AC0000000025/art-33/par-2/item-2 - art-33/par-2/item-4: 前三号 → 金融商品取引法 第三十三条第二項第三号 (Article 33, paragraph (2), item (iii)), art-33/par-2/item-3 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-2/item-3 · https://japanlaw.org/l/323AC0000000025/art-33/par-2/item-3 - art-33/par-2/item-4/sub-2: 第二条第十一項第一号から第三号まで → 金融商品取引法 第二条第十一項第一号 (Article 2, paragraph (11), item (i)), art-2/par-11/item-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-11/item-1 · https://japanlaw.org/l/323AC0000000025/art-2/par-11/item-1 - art-33/par-2/item-4/sub-2: 第二条第十一項第一号から第三号まで → 金融商品取引法 第二条第十一項第二号 (Article 2, paragraph (11), item (ii)), art-2/par-11/item-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-11/item-2 · https://japanlaw.org/l/323AC0000000025/art-2/par-11/item-2 - art-33/par-2/item-4/sub-2: 第二条第十一項第一号から第三号まで → 金融商品取引法 第二条第十一項第三号 (Article 2, paragraph (11), item (iii)), art-2/par-11/item-3 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-11/item-3 · https://japanlaw.org/l/323AC0000000025/art-2/par-11/item-3 - art-33/par-2/item-5: 第二条第八項第四号 → 金融商品取引法 第二条第八項第四号 (Article 2, paragraph (8), item (iv)), art-2/par-8/item-4 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-8/item-4 · https://japanlaw.org/l/323AC0000000025/art-2/par-8/item-4 - art-33/par-2/item-5/sub-1: 第一号 → 金融商品取引法 第三十三条第二項第一号 (Article 33, paragraph (2), item (i)), art-33/par-2/item-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-2/item-1 · https://japanlaw.org/l/323AC0000000025/art-33/par-2/item-1 - art-33/par-2/item-5/sub-2: 前三号 → 金融商品取引法 第三十三条第二項第二号 (Article 33, paragraph (2), item (ii)), art-33/par-2/item-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-2/item-2 · https://japanlaw.org/l/323AC0000000025/art-33/par-2/item-2 - art-33/par-2/item-5/sub-2: 前三号 → 金融商品取引法 第三十三条第二項第三号 (Article 33, paragraph (2), item (iii)), art-33/par-2/item-3 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-2/item-3 · https://japanlaw.org/l/323AC0000000025/art-33/par-2/item-3 - art-33/par-2/item-5/sub-2: 前三号 → 金融商品取引法 第三十三条第二項第四号 (Article 33, paragraph (2), item (iv)), art-33/par-2/item-4 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-2/item-4 · https://japanlaw.org/l/323AC0000000025/art-33/par-2/item-4 - art-33/par-3: 第二十九条 → 金融商品取引法 第二十九条 (Article 29), art-29 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-29 · https://japanlaw.org/l/323AC0000000025/art-29 - art-33/par-3: 第二十八条第八項第三号から第六号まで → 金融商品取引法 第二十八条第八項第三号 (Article 28, paragraph (8), item (iii)), art-28/par-8/item-3 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-28/par-8/item-3 · https://japanlaw.org/l/323AC0000000025/art-28/par-8/item-3 - art-33/par-3: 第二十八条第八項第三号から第六号まで → 金融商品取引法 第二十八条第八項第四号 (Article 28, paragraph (8), item (iv)), art-28/par-8/item-4 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-28/par-8/item-4 · https://japanlaw.org/l/323AC0000000025/art-28/par-8/item-4 - art-33/par-3: 第二十八条第八項第三号から第六号まで → 金融商品取引法 第二十八条第八項第五号 (Article 28, paragraph (8), item (v)), art-28/par-8/item-5 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-28/par-8/item-5 · https://japanlaw.org/l/323AC0000000025/art-28/par-8/item-5 - art-33/par-3: 第二十八条第八項第三号から第六号まで → 金融商品取引法 第二十八条第八項第六号 (Article 28, paragraph (8), item (vi)), art-28/par-8/item-6 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-28/par-8/item-6 · https://japanlaw.org/l/323AC0000000025/art-28/par-8/item-6 - art-33/par-3: 第二条第八項第五号 → 金融商品取引法 第二条第八項第五号 (Article 2, paragraph (8), item (v)), art-2/par-8/item-5 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-8/item-5 · https://japanlaw.org/l/323AC0000000025/art-2/par-8/item-5 - art-33/par-3: 第二十八条第八項第七号 → 金融商品取引法 第二十八条第八項第七号 (Article 28, paragraph (8), item (vii)), art-28/par-8/item-7 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-28/par-8/item-7 · https://japanlaw.org/l/323AC0000000025/art-28/par-8/item-7 - art-33/par-3: 第二条第八項第七号 → 金融商品取引法 第二条第八項第七号 (Article 2, paragraph (8), item (vii)), art-2/par-8/item-7 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-8/item-7 · https://japanlaw.org/l/323AC0000000025/art-2/par-8/item-7 - art-33/par-3/item-1: 第二条第八項第二号 → 金融商品取引法 第二条第八項第二号 (Article 2, paragraph (8), item (ii)), art-2/par-8/item-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-8/item-2 · https://japanlaw.org/l/323AC0000000025/art-2/par-8/item-2 - art-33/par-3/item-1: 第三号 → 金融商品取引法 第二条第八項第三号 (Article 2, paragraph (8), item (iii)), art-2/par-8/item-3 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-8/item-3 · https://japanlaw.org/l/323AC0000000025/art-2/par-8/item-3 - art-33/par-3/item-3: 第二条第八項第二号 → 金融商品取引法 第二条第八項第二号 (Article 2, paragraph (8), item (ii)), art-2/par-8/item-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-8/item-2 · https://japanlaw.org/l/323AC0000000025/art-2/par-8/item-2 - art-33/par-3/item-3: 第三号 → 金融商品取引法 第二条第八項第三号 (Article 2, paragraph (8), item (iii)), art-2/par-8/item-3 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-8/item-3 · https://japanlaw.org/l/323AC0000000025/art-2/par-8/item-3 ## Cited by 27 provisions cite this one. No official source publishes this direction. - 金融商品取引法 第二十九条の四第一項第四号ニ（登録の拒否） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-29-4/par-1/item-4/sub-4 · https://japanlaw.org/l/323AC0000000025/art-29-4/par-1/item-4/sub-4 - 金融商品取引法 第三十三条第一項（金融機関の有価証券関連業の禁止等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-1 · https://japanlaw.org/l/323AC0000000025/art-33/par-1 - 金融商品取引法 第三十三条第二項（金融機関の有価証券関連業の禁止等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-2 · https://japanlaw.org/l/323AC0000000025/art-33/par-2 - 金融商品取引法 第三十三条第二項第一号（金融機関の有価証券関連業の禁止等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-2/item-1 · https://japanlaw.org/l/323AC0000000025/art-33/par-2/item-1 - 金融商品取引法 第三十三条第二項第四号（金融機関の有価証券関連業の禁止等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-2/item-4 · https://japanlaw.org/l/323AC0000000025/art-33/par-2/item-4 - 金融商品取引法 第三十三条第二項第五号イ（金融機関の有価証券関連業の禁止等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-2/item-5/sub-1 · https://japanlaw.org/l/323AC0000000025/art-33/par-2/item-5/sub-1 - 金融商品取引法 第三十三条第二項第五号ロ（金融機関の有価証券関連業の禁止等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33/par-2/item-5/sub-2 · https://japanlaw.org/l/323AC0000000025/art-33/par-2/item-5/sub-2 - 金融商品取引法 第三十三条の二第一項第二号（金融機関の登録） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33-2/par-1/item-2 · https://japanlaw.org/l/323AC0000000025/art-33-2/par-1/item-2 - 金融商品取引法 第三十三条の二第一項第五号（金融機関の登録） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33-2/par-1/item-5 · https://japanlaw.org/l/323AC0000000025/art-33-2/par-1/item-5 - 金融商品取引法 第三十三条の五第二項（金融機関の登録の拒否等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33-5/par-2 · https://japanlaw.org/l/323AC0000000025/art-33-5/par-2 - 金融商品取引法 第三十三条の七第一項（解釈規定） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33-7/par-1 · https://japanlaw.org/l/323AC0000000025/art-33-7/par-1 - 金融商品取引法 第三十三条の八第一項（信託業務を営む場合等の特例等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33-8/par-1 · https://japanlaw.org/l/323AC0000000025/art-33-8/par-1 - 金融商品取引法 第三十三条の八第二項第一号（信託業務を営む場合等の特例等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-33-8/par-2/item-1 · https://japanlaw.org/l/323AC0000000025/art-33-8/par-2/item-1 - 金融商品取引法 第四十四条の三第二項第二号（親法人等又は子法人等が関与する行為の制限） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-44-3/par-2/item-2 · https://japanlaw.org/l/323AC0000000025/art-44-3/par-2/item-2 - 金融商品取引法 第六十三条の九第一項（海外投資家等特例業務の届出等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-63-9/par-1 · https://japanlaw.org/l/323AC0000000025/art-63-9/par-1 - 金融商品取引法 第六十三条の十第一項（海外投資家等特例業務届出者の地位の承継等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-63-10/par-1 · https://japanlaw.org/l/323AC0000000025/art-63-10/par-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/ja/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 第二百一条第一項第四号 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-201/par-1/item-4 · https://japanlaw.org/l/323AC0000000025/art-201/par-1/item-4 - 金融商品取引法 第二百二条第二項第一号 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-202/par-2/item-1 · https://japanlaw.org/l/323AC0000000025/art-202/par-2/item-1 - 金融商品取引法 第二百二条第二項第二号 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-202/par-2/item-2 · https://japanlaw.org/l/323AC0000000025/art-202/par-2/item-2 - 金融商品取引法 附則第三条の三第一項（移行期間特例業務に関する特例） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/suppl-3231-25/art-3-3/par-1 · https://japanlaw.org/l/323AC0000000025/suppl-3231-25/art-3-3/par-1 - 金融商品取引法 附則第六十六条第二項 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/suppl-4181-65/art-66/par-2 · https://japanlaw.org/l/323AC0000000025/suppl-4181-65/art-66/par-2 - 金融商品取引法 附則第四十七条第一項（金融商品取引法の一部改正に伴う経過措置） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/suppl-4191-74/art-47/par-1 · https://japanlaw.org/l/323AC0000000025/suppl-4191-74/art-47/par-1 - 金融商品取引法 附則第十条第一項 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/suppl-5011-28/art-10/par-1 · https://japanlaw.org/l/323AC0000000025/suppl-5011-28/art-10/par-1 - 金融商品取引法 附則第六条第一項 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/suppl-5051-79/art-6/par-1 · https://japanlaw.org/l/323AC0000000025/suppl-5051-79/art-6/par-1 - 銀行法 第十条第四項（業務の範囲） — https://japanlaw.org/ja/banking-act/art-10/par-4 · https://japanlaw.org/l/356AC0000000059/art-10/par-4 - 銀行法 第十一条第一項第二号 — https://japanlaw.org/ja/banking-act/art-11/par-1/item-2 · https://japanlaw.org/l/356AC0000000059/art-11/par-1/item-2 --- ## 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-20261023T035921-006, translated 2026-10-23 - claude-sonnet-5-5, corrected on review by claude-opus-5-5 — Machine translation corrected on review, batch financial-instruments-and-exchange-act-20261023T035921-006, 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