The Tokyo Stock Exchange (hereinafter "TSE") has imposed disciplinary action (Censure) against Musashi Securities Co., Ltd. (hereinafter the "Company") pursuant to Rule 34, Paragraph 1 of the Trading Participant Regulations.
Additionally, TSE has requested the Company to submit a business improvement report pursuant to the provisions of Rule 19, Paragraph 1 of the Trading Participant Regulations.
The business improvement report shall include:
- Conduct a fundamental review of the systems and frameworks for trade supervision that are necessary to ensure fair transactions, including (i) developing and improving staffing arrangements and (ii) establishing and operating a data verification system, and take measures to prevent recurrence toward eradicating violations of laws and regulations;
- Take measures that cause all board members, executive officers, and employees to strictly comply with laws and regulations;
- Clarify the locus of responsibilities for this case, including of persons in management;
