Administrative Actions Against SBI SECURITIES Co., Ltd.

Summary:

On January 12, 2024, the Financial Services Agency (FSA) of Japan has issued administrative actions against SBI SECURITIES Co., Ltd. (SBI Securities) in accordance with the Financial Instruments and Exchange Act. The actions consist of a Business Suspension Order and a Business Improvement Order. The Business Suspension Order suspends the acceptance of entrustment related to the purchase and sales of initial publicly offered securities from January 12, 2024 to January 18, 2024. The Business Improvement Order requires SBI Securities to implement measures to ensure sound business operations, including developing and implementing a business improvement plan, reporting its progress to the FSA, and strengthening its internal control environment.