A staff member of Okachi Securities concluded a contract with a client to manage a discretionary account, which enabled the staff member to decide whether to purchase or sell, and the issues, volume, and price of transactions without obtaining individual consent from the client. Additionally, the staff member executed many stock transactions based on these contracts from August 20, 2003 to January 30, 2004.
The conduct above was found to be a violation of Article 42 (1) (v) of the Securities Exchange Law.
