Insider Trading Record Highest Charge 190 Million Yen Over December 7 0:32
A foreigner working for an investment company in Hong Kong conducted insider trading based on pre-announced internal information on a capital alliance with a semiconductor company in Yokohama City. I advised the Financial Services Agency to order payment of surplus yen. It is the highest recommended amount of levy for insider trading.
The recommendations were for foreign men in their 40s who served as executives and employees at an investment company in Hong Kong.
According to the Securities and Exchange Surveillance Committee, this man is a man in August. Before the information that the investment company he works for has a capital tie-up with the semiconductor-related company “Inotech” in Yokohama City, It means that we bought about 770 million yen.
Although men still hold most of the shares they have purchased, the Monitoring Committee is prohibited by the Financial Instruments and Exchange Act from purchasing large quantities of shares before the capital alliance information is released. In order to deal with insider trading, we advised the Financial Services Agency to order this man to pay a surcharge of over 196 million yen.
This means that the recommended amount of levy for insider trading is the highest ever.