Tokyo Stock Exchange Requests Credit Agricole Indosuez Securities (Japan) Limited, Tokyo Branch, To Submit A Business Improvement Report

TSE requested Credit Agricole Indosuez Securities (Japan) Limited (Indosuez Securities), Tokyo Branch, to submit a business improvement report regarding the correction of the misconduct concerned, clarification of locus of responsibility, the extent of compliance awareness of directors and staff, the establishment of customer management systems including identity verification and preparation of the record, and ensuring the effectiveness of such systems.

From February 26, 2003 to January 21, 2005, the Tokyo Branch of Indosuez Securities, in the course of its business, opened corporate clients' accounts without verifying identities for the corporate clients or people who were in charge of the transactions, or without keeping their identification records.

The conduct above was found to have violated Paragraphs 1 and 2 of Article 3, and Paragraph 1 of Article 4 of the Law on Customer Identification and Retention of Records by Financial Institutions, and Prevention of Fraudulent Use of Deposit Accounts.