TSE also requested Marusan Securities submit a business improvement report regarding enforcement of its internal control system and clarification of locus of responsibility, measures to prevent the recurrence of the violation below, and security of strict compliance by the directors and staff.
From June 8 to July 10, 2001, Marusan Securities received orders for CATS, Inc. stock, regarding which the SESC reported accusations of manipulative trading to the public prosecutor of the Tokyo Public Prosecutor's Office on February 24, 2004.Marusan Securities accepted these orders from a customer knowing the orders were intended to create an artificial market without any reflection of the actual state of market.
The above act is found to violate Item 3, Article 4 of the Ordinance of Cabinet Office Concerning Regulation based upon Item 9, Paragraph 1 of Article 42 under the Securities and Exchange Law.
