# 金融商品取引法 / Financial Instruments and Exchange Act — 第四十条の三 (Article 40-3) - 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: 第四十条の三 (Article 40-3)（分別管理が確保されていない場合の売買等の禁止） — address `art-40-3` - 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-40-3 - Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/323AC0000000025/art-40-3 - 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. --- ### 第四十条の三（分別管理が確保されていない場合の売買等の禁止） — (Prohibition of Purchase and Sale If Separate Management Is Not Ensured) caption: Ministry of Justice translation — Japanese Law Translation Database System art-40-3 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-40-3 · https://japanlaw.org/l/323AC0000000025/art-40-3 **第一項** 金融商品取引業者等は、第二条第二項第五号若しくは第六号に掲げる権利又は同条第一項第二十一号に掲げる有価証券（政令で定めるものに限る。）若しくは同条第二項第七号に掲げる権利（政令で定めるものに限る。）については、当該権利又は有価証券に関し出資され、又は拠出された金銭（これに類するものとして政令で定めるものを含む。以下この条において同じ。）が、当該金銭を充てて行われる事業を行う者の固有財産その他当該者の行う他の事業に係る財産と分別して管理することが当該権利又は有価証券に係る契約その他の法律行為において確保されているものとして内閣府令で定めるものでなければ、第二条第八項第一号、第二号又は第七号から第九号までに掲げる行為を行つてはならない。 art-40-3/par-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-40-3/par-1 · https://japanlaw.org/l/323AC0000000025/art-40-3/par-1 With regard to the rights set forth in Article 2, paragraph (2), item (v) or (vi) or the securities set forth in Article 2, paragraph (1), item (xxi) (limited to those specified by Cabinet Order) or the rights set forth in Article 2, paragraph (2), item (vii) (limited to those specified by Cabinet Order), a financial instruments business operator, etc. must not perform any of the acts set forth in Article 2, paragraph (8), item (i) or (ii), or items (vii) through (ix) unless the relevant right or securities are specified by Cabinet Office Order as those for which a contract or other juridical act involving the right or securities ensures that the money invested or contributed for the right or securities (including anything specified by Cabinet Order as being similar to money; hereinafter the same applies in this Article) is managed separately from the assets that belong to the person conducting the relevant business conducts by allocating such money, and is managed separately from any other assets connected with other business conducted by that person. Ministry of Justice translation — Japanese Law Translation Database System --- ## Cites - art-40-3/par-1: 第二条第二項第五号 → 金融商品取引法 第二条第二項第五号 (Article 2, paragraph (2), item (v)), art-2/par-2/item-5 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-2/item-5 · https://japanlaw.org/l/323AC0000000025/art-2/par-2/item-5 - art-40-3/par-1: 第六号 → 金融商品取引法 第二条第二項第六号 (Article 2, paragraph (2), item (vi)), art-2/par-2/item-6 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-2/item-6 · https://japanlaw.org/l/323AC0000000025/art-2/par-2/item-6 - art-40-3/par-1: 同条第一項第二十一号 → 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-40-3/par-1: 同条第二項第七号 → 金融商品取引法 第二条第二項第七号 (Article 2, paragraph (2), item (vii)), art-2/par-2/item-7 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-2/item-7 · https://japanlaw.org/l/323AC0000000025/art-2/par-2/item-7 - art-40-3/par-1: この条 → 金融商品取引法 第四十条の三 (Article 40-3), art-40-3 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-40-3 · https://japanlaw.org/l/323AC0000000025/art-40-3 - art-40-3/par-1: 第二条第八項第一号 → 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-40-3/par-1: 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-40-3/par-1: 第七号から第九号まで → 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-40-3/par-1: 第七号から第九号まで → 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-40-3/par-1: 第七号から第九号まで → 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 ## Cited by 11 provisions cite this one. No official source publishes this direction. - 資金決済に関する法律 第六十二条の十七第一項（金融商品取引法の準用） — https://japanlaw.org/ja/payment-services-act/art-62-17/par-1 · https://japanlaw.org/l/421AC0000000059/art-62-17/par-1 - 金融商品取引法 第四十条の三第一項（分別管理が確保されていない場合の売買等の禁止） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-40-3/par-1 · https://japanlaw.org/l/323AC0000000025/art-40-3/par-1 - 金融商品取引法 第六十三条第十一項（適格機関投資家等特例業務） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-63/par-11 · https://japanlaw.org/l/323AC0000000025/art-63/par-11 - 金融商品取引法 第六十三条の三第三項第一号（金融商品取引業者等が適格機関投資家等特例業務を行う場合） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-63-3/par-3/item-1 · https://japanlaw.org/l/323AC0000000025/art-63-3/par-3/item-1 - 金融商品取引法 第六十三条の九第八項（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-8 · https://japanlaw.org/l/323AC0000000025/art-63-9/par-8 - 金融商品取引法 第六十三条の十一第三項第二号（金融商品取引業者等が海外投資家等特例業務を行う場合） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-63-11/par-3/item-2 · https://japanlaw.org/l/323AC0000000025/art-63-11/par-3/item-2 - 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 - 銀行法 第十三条の四第一項（金融商品取引法の準用） — https://japanlaw.org/ja/banking-act/art-13-4/par-1 · https://japanlaw.org/l/356AC0000000059/art-13-4/par-1 - 銀行法 第五十二条の二の五第一項（外国銀行代理銀行についての金融商品取引法の準用） — https://japanlaw.org/ja/banking-act/art-52-2-5/par-1 · https://japanlaw.org/l/356AC0000000059/art-52-2-5/par-1 - 銀行法 第五十二条の四十五の二第一項（銀行代理業者についての金融商品取引法の準用） — https://japanlaw.org/ja/banking-act/art-52-45-2/par-1 · https://japanlaw.org/l/356AC0000000059/art-52-45-2/par-1 - 銀行法 第五十二条の六十の十七第一項（金融商品取引法の準用） — https://japanlaw.org/ja/banking-act/art-52-60-17/par-1 · https://japanlaw.org/l/356AC0000000059/art-52-60-17/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