Mondo Visione Worldwide Financial Markets Intelligence

FTSE Mondo Visione Exchanges Index:

Tokyo Stock Exchange Imposed A Penalty On Mito Securities Co., Ltd.

Date 02/08/2002

TSE imposed a penalty on Mito Securities Co., Ltd. ("Mito Securities") of JPY 10 million fine for conclusion of a contract to manage a discretionary account.

33 staff of Mito Securities concluded contracts with clients to manage a discretionary account, which enabled them to decide whether to purchase or sell, issues, volume and price without obtaining individual consent of the client.

The conduct above was found to be Mito Securities' violation of the Article 42 (1) (v) of the Securities Exchange Law on the basis that these conducts were caused by Mito Securities' negligence.