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 2026-01-29
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.