The Japan Securities and Exchange Surveillance Commission has recommended that the Prime Minister and the Commissioner of the Financial Services Agency order payment of a JPY 6.56 million surcharge for insider trading in Goodspeed Co., Ltd. shares ahead of a tender offer announcement. The case concerns trading by a person who had received non-public information about the planned tender offer from a Goodspeed officer. According to the Commission, the person bought 25,700 Goodspeed shares on February 26 and 27, 2024 for JPY 19,110,500 in an acquaintance's name before the tender offer was announced on March 1, 2024. The Commission found no statutory exclusion grounds and concluded that the trades breached Article 167 of the Financial Instruments and Exchange Act. It said the matter was identified from information provided by the Japan Exchange Self-Regulatory Corporation together with other information.
Japan Securities and Exchange Surveillance Commission2026-06-05
Japan Securities and Exchange Surveillance Commission recommends JPY 6.56 million surcharge for insider trading in Goodspeed shares ahead of tender offer
The Japan Securities and Exchange Surveillance Commission has recommended that the Prime Minister and the Financial Services Agency Commissioner impose a JPY 6.56 million surcharge for insider trading in Goodspeed Co., Ltd. shares ahead of a tender offer announcement. The Commission found that a person, having received non-public information from a Goodspeed officer, purchased 25,700 shares in an acquaintance’s name in February 2024, in breach of Article 167 of the Financial Instruments and Exchange Act.