# 金融商品取引法 / Financial Instruments and Exchange Act — 第四十四条の四 (Article 44-4) - 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: 第四十四条の四 (Article 44-4)（引受人の信用供与の制限） — address `art-44-4` - 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-44-4 - Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/323AC0000000025/art-44-4 - 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. --- ### 第四十四条の四（引受人の信用供与の制限） — (Restriction on Granting Credit by Underwriters) caption: Ministry of Justice translation — Japanese Law Translation Database System art-44-4 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-44-4 · https://japanlaw.org/l/323AC0000000025/art-44-4 **第一項** 有価証券の引受人となつた金融商品取引業者は、当該有価証券（第二条第六項第三号に掲げるものを行う金融商品取引業者にあつては、同号に規定する新株予約権を行使することにより取得する有価証券）を売却する場合において、引受人となつた日から六月を経過する日までは、その買主に対し買入代金につき貸付けその他信用の供与をしてはならない。 art-44-4/par-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-44-4/par-1 · https://japanlaw.org/l/323AC0000000025/art-44-4/par-1 If a financial instruments business operator that has become an underwriter of securities sells those securities (in the case of a financial instruments business operator that conducts the act specified in Article 2, paragraph (6), item (iii), the securities acquired by exercising share options prescribed in that item), it must not lend money or otherwise grant credit for the purchase price to the purchaser of the securities until six months have elapsed since the day on which the financial instruments business operator became an underwriter. Ministry of Justice translation — Japanese Law Translation Database System --- ## Cites - art-44-4/par-1: 第二条第六項第三号 → 金融商品取引法 第二条第六項第三号 (Article 2, paragraph (6), item (iii)), art-2/par-6/item-3 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-2/par-6/item-3 · https://japanlaw.org/l/323AC0000000025/art-2/par-6/item-3 ## Cited by 3 provisions cite this one. No official source publishes this direction. - 金融商品取引法 第五十九条の六第一項（引受業務の規制） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-59-6/par-1 · https://japanlaw.org/l/323AC0000000025/art-59-6/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 第二百八条第一項第一号 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-208/par-1/item-1 · https://japanlaw.org/l/323AC0000000025/art-208/par-1/item-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