- May 1, 2024
- Posted by: legaleseblogger
- Category: Related News
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### Situation at the Clearing House
I work for a clearing house, who is a 証券会社 and member of the Japan Securities Dealers Association. However, we are a middleman and do not trade ourselves. I want to emphasize that I do not possess any insider knowledge in my role, and when questioned, I made it clear that I have no insider trading relationships. Despite this, Rakuten has placed a restriction on my account, preventing me from buying anything, be it stocks, funds, or any investments for my NISA.
### Seeking Clarity and Resolution
Upon checking Rakuten’s website, specifically the section on 開設できる口座の種類, I discovered that I am not attempting to invest in futures or options, as outlined in the restriction. Despite this, Rakuten has not provided any additional information or specified any steps for resolution. I plan to contact them next week, although I must admit that my Japanese language skills are not proficient.
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In such a situation, navigating legal jargon and compliance requirements can be complex and overwhelming. AI Legalese Decoder can assist by analyzing the legal terms and regulations related to your specific circumstances, providing you with a simplified explanation that is easy to understand. This tool can help clarify any restrictions or requirements imposed by entities such as Rakuten, enabling you to address the issue effectively and ensure compliance with relevant laws and regulations.
### Resolving the Account Restriction
After an update, it was noted that my account has been unlocked, allowing me to resume purchasing investments, with the exception of options and futures. Surprisingly, Rakuten did not request any documentation for this resolution. This experience serves as a reminder of the importance of clear communication and prompt resolution of account-related issues, ensuring seamless access to investment opportunities.
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I work for your direct concurrent when it comes to online banking and I have no problems investing in my NISA.
As you mention, restriction only applies to a set of securities: derivatives, CFD, margin, etc.
Stocks and ETF are fine, you just need to submit additional paperwork to your compliance officer beforehand and you have a minimal retention period.
Stocks related to your group have more restrictions and of course you cannot trade securities for which you may have non public information.
You need to contact your compliance officer. Most of the time, you need to do it the old fashioned way with paper. If you don’t know who is your compliance officer, just contact your English speaking HR.
Your company (specifically compliance department) will probably have a list of what you can and cannot trade in.
If Rakuten is being difficult regardless then maybe you can try signing up with a different broker?
When I worked at private equity in USA. I couldnt trade certain stocks. They told me what I could on though
Just ask your people and see which stocks you can invest or industry.
I couldn’t trade anything health care related wirhout getting approval.
ETFs you should be able to def. trade
FYI the next best thing after Rakuten is SBI (recently number of Rakuten users who transferred to SBI is at record high). Do not use Matsui or Monex.
There is the new guy Moomoo is also worth looking at, since they have pretty competitive pricing.
Good luck.
Friend worked in IBD before, he was also blocked from buying anything pretty much. Might differ from firm to firm though
I’ve worked in investment banking for 30 years and have always been able to buy mutual funds and ETFs.
I’m an American citizen which entails a whole ‘nuther can of worms.