The Financial Services Agency said Tuesday it will strengthen its electronic share-transaction reporting system to catch possible hoaxes after a company posted a false report on the system in January claiming it had bought majority stakes in Sony Corp. and other Japanese blue-chip firms.
The FSA will introduce a system to automatically flag possibly false reports, based on the size of the transaction relative to the reporting company. The FSA also hopes a related law will be amended so it can delete allegedly false reports.
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