From 14th November 1998 to 31st July 2001, when executing short-selling of stocks for its own account, Goldman Sachs (Japan) had failed to disclose the fact of short-selling to stock exchanges.
The series of actions above is deemed as violation of Article 26-3 (1) of the Cabinet Ordinance (Securities & Exchange Law) 1965 and Article 162 (1) (i) of the Securities & Exchange Law 1948, both of which regulate short-selling.
The Financial Services Agency suspended Goldman Sachs (Japan)'s stock-dealing operation from 25th December 2001 to 11th January 2002.
