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https://www.fsa.go.jp/sesc/news/c_2026/2026/20260313-1.html
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This page announces a recommendation by the Securities and Exchange Surveillance Commission based on inspection results of Yamabiko Investment Advisors Co., Ltd. The company was substantially controlled by Akira Yamada and operated as an integrated entity with an unregistered investment advisory business. Company employees participated in unregistered investment advisory services, providing inappropriate guidance to clients. Based on these findings, the Commission recommended administrative action.
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