Impact on Performance from Legal Restrictions and New Regulations
First written in FY2016. 3 of 4 entries say "Restated". Latest entry: FY2020.
The whole theme swung hardest in 2022: 2 of 7 companies on the "Worse" side.
8 other companies' latest entry also says "Restated".
- FY2020RestatedAnnual report
「The commodity futures business is subject to the Commodity Futures Act, while the securities business is subject to the Financial Instruments and Exchange Act. In addition, these businesses are subject to various laws and regulations, including the customer transaction rules established by each exchange and the self-regulatory rules of the Japan Commodity Futures Association and the Japan Securities Dealers Association.」
The disclosure continues to describe the laws and self-regulatory rules relating to the commodity futures and securities businesses, as well as the risk of sanctions for violations. - FY2019RestatedAnnual report
「Violations of these applicable laws and regulations may result in sanctions, including revocation of licenses or registrations, suspension of operations, and orders to pay administrative monetary penalties. Such sanctions could affect the financial results of our group.」
The disclosure continues to describe the laws, self-regulatory rules, and risk of sanctions for violations relating to the commodity futures and securities businesses. - FY2018RestatedAnnual report
「The commodity futures business is subject to the Commodity Futures Act, while the securities business is subject to the Financial Instruments and Exchange Act. In addition, these businesses are subject to various laws and regulations, including the customer transaction rules established by each exchange and the self-regulatory rules of the Japan Commodity Futures Association and the Japan Securities Dealers Association. Violations of these applicable laws and regulations may result in sanctions, including revocation of licenses or registrations, suspension of operations, and orders to pay administrative monetary penalties.」
The disclosure continues to describe the laws, self-regulatory rules, and risk of sanctions for violations applicable to the commodity futures and securities businesses. - FY2016First statedAnnual report
「The commodity futures business is subject to the Commodity Futures Act, while the securities business is subject to the Financial Instruments and Exchange Act. In addition, these businesses are subject to various laws and regulations, including the customer transaction rules established by each exchange and the self-regulatory rules of the Japan Commodity Futures Association and the Japan Securities Dealers Association.」
The disclosure describes the laws and self-regulatory rules applicable to the commodity futures and securities businesses, as well as the risk of sanctions for violations.