TSE will suspend Eiwa Securities Co., Ltd. (Eiwa Securities) from trading stocks for its own account on the TSE market from June 7 to June 20, 2007 (except trading which the Kinki Finance Bureau Ministry of Finance (KFB) deems appropriate) pursuant to the Trading Participant Rules.
From September 13, 2005 to February 1, 2006, a dealer in the Osaka Stock and Bond Dealing Department of Eiwa Securities over the course of business placed buy and sell orders 8 times, with no intention of execution, in relation to 5 listed stock issues. He intended to make the prices move advantageously to his own positions by making the price for the stocks fluctuate.
The above act is acknowledged to be an ‘act of making purchase or sale transactions of a listed security with the purpose of making the price of said security fluctuate’ as defined in Item 9, Paragraph 1 of Article 42 of the Securities and Exchange Law.
KFB will also suspend Eiwa Securities from trading as above.