The Japan Financial Services Agency issued an order requiring payment of a surcharge to the national treasury for insider transactions in EPS Holdings Co., Ltd. shares by employees of stock issuers in connection with tender offers. The decision followed a recommendation from the Securities and Exchange Surveillance Commission and trial proceedings commenced on 19 December Reiwa 7 for violations of the Financial Instruments and Exchange Act. The respondent submitted a reply acknowledging the relevant facts and the surcharge amount, and the adjudication process resulted in an order under Article 185-6 of the Financial Instruments and Exchange Act. The surcharge is JPY 4,020,000 and must be paid by 30 March Reiwa 8.
Japan Financial Services Agency orders JPY 4.02 million surcharge for EPS Holdings tender offer-related insider trading
The Japan Financial Services Agency ordered a JPY 4,020,000 surcharge payment to the national treasury for insider trading violations involving EPS Holdings Co., Ltd. shares, following a Securities and Exchange Surveillance Commission recommendation and trial proceedings under the Financial Instruments and Exchange Act.