JP Asset Securities Offers Profit to Senate Ishii Senator, September 5 18:36
The LDP member Hiroo Ishii, a member of the House of Representatives, was providing profits such as continued trading even though there was not enough margin for collateral in Tokyo's JP Asset Securities. I learned from interviews with related parties. The Securities and Exchange Surveillance Committee advised the Financial Services Agency to administer this company for violating the Financial Instruments and Exchange Act.
According to the Securities and Exchange Surveillance Committee and related parties, JP Asset Securities in Chuo-ku, Tokyo is a transaction of financial products called derivatives conducted by the LDP member Hiroo Ishii, a member of the House of Representatives, from last October until May. Even though the margin to be deposited as collateral was around 400,000 to 62 million yen, the transaction continued.
The Oversight Committee considers such transactions to be “special benefits” forbidden by the Financial Instruments and Exchange Act, and publicly dismisses JP Asset Securities by five days, assuming that it lacks relevance and appropriateness due to social wisdom. Recommended to the Financial Services Agency.
Member of the House of Representatives Ishii was a former professional baseball player who was active in Kintetsu and Giants, and was elected for the first time from the Akita constituency in 2010 and is currently in its second term.
According to NHK's interview, Representative Ishii's office says, “I can't comment because there is no person in charge.”
JP Asset Securities has stated that it cannot respond to customers, and that it wants to take the recommendation seriously and strive to prevent recurrence.