The police in Fukuoka, Yamaguchi and Kumamoto raided a trader who was allegedly breach of the Specific Commercial Practices Law. According to the police, the trader was negligent not to explain the trading risk with the capability of falling below par; the company defrauded customers, saying that their transactions were executed by the liable trader. The Asahi Shimbun reported on 26th May 2008:
The Specific Commercial Practices Act prohibits misrepresentaion (sec. 6) as well as imposing to deliver explanatory documents (sec. 4) and the violation of the restriction consists crime (sec, 70, 72).
Whilst the misrepresentation concerned is about the safety of transactions, the police actually seems to suspect that the rogue trader did not have transaction in London.
