Legal and Internal Control Risks Arising from EAM Administrative Action
First written in FY2022-Q2. 4 of 7 entries say "Mitigated", first in FY2022-Q3. Latest entry: FY2025-H1.
0 other companies' latest entry also says "Mitigated".
- FY2025-H1MitigatedAnnual report
「EAM, the asset management company for EJR, received a business suspension order and a business improvement order from the Financial Services Agency in July 2022. All responses to the Financial Services Agency have been completed, and EJR has resumed trading.」
The company disclosed the completion of its response to the Financial Services Agency regarding the administrative action against EAM and the resumption of trading by EJR. - FY2023-Q4MaterialisedAnnual report
「As our consolidated subsidiary 株式会社エスコンアセットマネジメント received an order imposing a fine under Article 17, Paragraph 1 of the Articles of Incorporation of the Investment Trusts Association, Japan, from the Investment Trusts Association, Japan, the amount payable under the order was recognised as “fine loss” under extraordinary losses.」
A fine of ¥275 million imposed by the Investment Trusts Association, Japan, on EAM was recognised as an extraordinary loss, and the financial impact associated with the administrative action was reflected in actual results. - FY2023-Q3MitigatedAnnual report
「All responses to the Financial Services Agency have been completed. EAM also received action from the Investment Trusts Association, Japan, on 8 June 2023 in connection with the administrative action. In January 2023, EAM reviewed its management structure, including changing its representative and ending concurrent positions with our company, and in June of the same year steadily advanced organisational and business reforms, including discontinuing certain businesses such as Type II Financial Instruments Business and Investment Advisory and Agency Business.」
The company stated that its response to the Financial Services Agency regarding the administrative action against EAM had been completed and indicated progress in organisational and business reforms, including changing EAM’s representative, ending concurrent positions with the parent company, and discontinuing certain financial businesses. - FY2023-Q2MaterialisedAnnual report
「In connection with the administrative action, EAM also received action from the Investment Trusts Association, Japan, on 8 June 2023. However, no new acts were committed, including inappropriate approaches that would impair the independence of real estate appraisal firms, an inappropriate process for selecting real estate appraisers, or breaches of fiduciary duty.」
The company disclosed that, following the Financial Services Agency’s administrative action, EAM also received action from the Investment Trusts Association, Japan, on 8 June 2023. The company’s explanation that no new inappropriate acts had been committed was also included. - FY2023-Q1MitigatedAnnual report
「In January 2023, EAM reviewed its management structure, including changing its representative and ending concurrent positions held with our company, and made a fresh start.」
In response to the regulatory action against EAM, the management structure was reviewed in January 2023, including changing its representative and ending concurrent positions with the parent company. - FY2022-Q3MitigatedAnnual report
「On 15 July 2022, EAM, our consolidated subsidiary, received administrative action from the Financial Services Agency consisting of a business suspension order and a business improvement order. On 15 August of the same year, it submitted a business improvement report to the Commissioner of the Financial Services Agency, and the report was accepted.」
Following the occurrence of the risk represented by regulatory action against EAM, a business improvement report was submitted and accepted by the Financial Services Agency. - FY2022-Q2MaterialisedAnnual report
「EAM underwent an inspection by the Securities and Exchange Surveillance Commission from mid-January 2022. Following the inspection, the Commission recommended to the Prime Minister and the Commissioner of the Financial Services Agency that administrative action be taken, and EAM received administrative action from the Financial Services Agency on 15 July 2022.」
Following the Securities and Exchange Surveillance Commission’s inspection of and recommendation concerning the consolidated subsidiary 株式会社エスコンアセットマネジメント, administrative action by the Financial Services Agency was taken on 15 July 2022.