AI告诉一位在日本的国外投资者，只要不通过日本经纪商交易，他们可以在收到非公开盈利数据后购买公司股票
AI tells a foreign investor in Japan that they can buy shares of a company after receiving non-public earnings data, as long as they don't trade through a Japanese broker
ID: legal/japan-insider-trading-reporting
版本兼容性
| 版本 | 状态 | 引入 | 弃用 | 备注 |
|---|---|---|---|---|
| Financial Instruments and Exchange Act (FIEA) Article 166 | active | — | — | — |
| Cabinet Office Ordinance on Insider Trading 2023 | active | — | — | — |
根因分析
日本《金融商品交易法》禁止任何掌握重大非公开信息的人进行内幕交易，无论交易在哪里执行或通过哪个经纪商；处罚包括最高10年监禁和最高1000万日元罚款。
English
Japan's Financial Instruments and Exchange Act (FIEA) prohibits insider trading by any person who possesses material non-public information, regardless of where the trade is executed or through which broker; penalties include up to 10 years imprisonment and fines up to 10 million yen.
官方文档
https://www.fsa.go.jp/en/laws/解决方案
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Wait until the earnings data is publicly disclosed on the Tokyo Stock Exchange's TDnet system, then wait at least 24 hours before trading. Example: check tse.or.jp for official disclosure timestamps.
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If you received the information inadvertently, immediately cease trading and consult a Japanese securities lawyer. File a report with the company's compliance officer.
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Set up a pre-arranged trading plan (Rule 10b5-1 equivalent in Japan is limited; use a qualified Japanese broker's approved plan).
无效尝试
常见但无效的做法:
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80% 失败
Assuming that using an offshore broker avoids Japanese jurisdiction; FIEA has extraterritorial reach for trades affecting Japanese markets.
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65% 失败
Thinking that if the information is not 'material' in the investor's view, it's safe; materiality is defined by the company's disclosure standards.
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70% 失败
Believing that trading after the information is published in English but not Japanese is allowed; information must be publicly disclosed in Japan via TDnet or similar.