Japan SESC Seeks Injunction Against Three Unregistered Firms Over ¥4.9B Raise

Cointime update: Japan’s Securities and Exchange Surveillance Commission has asked the Tokyo District Court for cease-and-desist orders against three unregistered financial instruments firms — 4CAPITAL MANAGEMENT, Shibata Research Institute and Ando Research Institute — and their three representatives. The regulator says the firms sold “Evolution” and “S&P500 Index” products from ITA Group’s US insurer to at least 2,141 retail investors, raising about ¥4.9 billion between February 2021 and February 2026.