Brothers and sisters share the only one parent

(N) No. Share the only one parent.

As mentioned in the previous entry,

Civil Coivde 900 Article 4 set out

iv) if there are two or more children, lineal ascendants, or siblings, the share in theinheritance of each shall be divide : divided equally; providethat the share in inheritance of an child out of wedlock shall be one half of the share in inheritance of a child in wedlockand the share in inheritance of a sibling who shares only one parent the share in inheritance of a sibling who shares both parentswith the decedent shall be one half of the share in inheritance of a sibling who shares both parents.

 A “sibling who shares only one parent with the decedent shall be one half of the share”.

 

For statutory inheritance, spouse is three quarters, total of brothers and sisters is one quarter.

For statutory inheritance, in this case, brothers and sisters who share only one parent will be half of brothers and sisters who share the same.

brothers and sisters share their parents

(Y) Yes. Brothers and sisters share the same their parents.

According to the Civil Code Article900 . In paragraph 4,

iv) if there are two or more children, lineal ascendants, or siblings, the share in theinheritance of each shall be divided equally; providethat the share in inheritance of an child out of wedlock shall be one half of the share in inheritance of a child in wedlockand the share in inheritance of a sibling who shares only one parent with the decedent shall be one half of the share in inheritance of a sibling who shares both parents.

In this case, it means that brothers and sisters who share the same parents (sometimes siblings of whole blood), so the inheritance becomes even.

In this case, the statutory inheritance will be 3/4 for the spouse and 1/4 for all the brothers and sisters. Then, one – fourth of them will be brothers, divided by head count.

In addition, if brothers and sisters are dead, their children will be inherited

Spouse and linear ascendant

Y) Yes. When there is linear ascendant

Heirs are spouses and linear ascendant .

As for the article, Article 889 of the Civil Code set out ((Right of Inheritance of Lineal Ascendant and Sibling)

Article 889 

(1) In the the case where there is no person to become an heir pursuant to the provisions of Article 887, the following persons shall become heirs in accordance with the following order of rank:

(i) lineal ascendants of the decedent; provided that between persons of differing degree of kinship, the person who is of closer relationship shall have higher priority of inheritance;

(ii) siblings of the decedent.

(2) The provisions of paragraph (2) of Article 887 shall apply mutatis mutandis to the case referred to in item (ii) of the preceding paragraph.

The statutory inheritance is two thirds of the spouse and one third of the direct descendants.

Let’s think about the will.

Spouse and Child

(Y) Yes.  They have the child.

Article 900 set out the Statutory Share in Inheritance.

Article 900 If there are two or more heirs of the same rank, their shares in inheritance shall be determined by the following items:

(i) if a child and a spouse are heirs, the child’s share in inheritance and the spouse’s share in inheritance shall be one half each;

The spouse is one half and the child is one person, (2 x number of people) per person. In addition, although there was a child, if the child has already passed away, the grandchild will inherit on behalf of the child (suicide inheritance).

As a text, Civil Code 887 (inheritance rights of the child and its transferees) set out the heir.

 Article 887

(1) The child of a decedent shall be an heir.
(2) If a decedent’s child has died before the commencement of inheritance, or has lost the right to inheritance by application of the provisions of Article 891 or disinheritance, the child of the decedent’s child shall be an heir as an heir per stirpes; provided that this shall not apply if the child is not a lineal descendant of the decedent.
(3) The provision of the preceding paragraph shall apply mutatis mutandis to the case where an heir per stirpes has died before the commencement of inheritance, or has lost the right of inheritance as an heir per stirpes by application of the provisions of Article 891, or by disinheritance.

The inheritance of legitimate child and child who is not legitimate in the past has been different, although there was a difference in the past (900 Civil Code).

Surviving spouse

It is a case to think about a case where there is a spouse.

In this case, spouse will always be the heir.

Article 890 The spouse of a decedent shall always be an heir. In this case, if there is a person to become an heir pursuant to the provisions of Article 887 or the preceding Articlethe spouse shall be of the same rank as thatperson

  The next question is whether or not there is a child.

First rank heir

Is there any child to the deceased?  (In this case,  including cases where they have already died, including adopted cases )?

The choices here are:

(Y) Yes. There are

(N) No.Not at all.

 

Who is heir(Japanese law)?

Tthe person who died  is called a decedent (a person who is inherited) A person who inherits the rights and duties of the decedent is called the heir.

The civil law set out the scope of the heir  in the Part 5(Inheritance).

Article 882 Inheritance shall commence upon the death of the decendant.

However,it’s rather difficult to understand who is heir.So I develop a chat bot, or made a hypertext structure page as follows,

so let’s check it.

First of all, it is the first question.

Is there surviving spouse for those who passed away?

As an answer

(Y) Yes. there is

(N) No. there is not

Move to each case.

 

legal Issues of Stock trading in AI era Part3

In stock trading in the AI ​​era (part 2), I mentioned the amendment of the Financial Instruments and Exchange Act to respond to specific problems. Here, I will show you an interesting cases before mentioning the detailed content of amendment.

Hokuetsu Kishu Paper Company stock price manipulation case (February 16, 2011 decision).

Market manipulation is prohibited under theFIEA Article 159  section2  (1) .

It set out that

(2) No person shall commit any of the following acts for the purpose of inducing sales and purchase of Securities, Market Transactions of Derivatives or Over-the-Counter Transactions of Derivatives (hereinafter referred to “Sales and Purchase of Securities, etc.” in this Article):

Of course,it may be  an issue about “for the purpose of inducing sales and purchase of Securities” when using the algorithms.But it is the same even if it is a transaction using an algorithm.

You can see the detils of the transaction on the website of the Stock Exchange Oversight Committee (Recommendation).

Basically algoritms are as follows;
Selling order without intent to make a deal
Buy order
Change the limit price to a price which there is no possibility of deal
Change the limit price again near the best quatation value

However, as an interpretation theory, it seems that such “marbles” are being carried out on a daily basis, and if so, the requirement for incentive purposes of “inducing sales and purchase of Securities” It seems to be argued that it will not be satisfied.

In IOSCO’s report, in Recommendation 5, “Market authorities should be monitored for new forms or types of market impediments that technological development can bring, and appropriate measures should be taken if necessary”

Also, in response to the WG report, the amendment of Financial Instruments and Exchange Act was proposed and  passed the National Assembly.

Materials related to this amendment can be accessed from this page(Japanese).

In English,AMT Law Offices’ report may be useful.

The law itself is not only responsive to high-speed transactions, but also includes

(1) introduction of fair / disclosure rules,

(2) development of legislation concerning high-speed transactions (high-speed trading of stocks, HFT) of shares, etc.,

(3) flexibility of the scope of operations of the financial instruments exchange group And so on.

Outlines are set out in the AMT paper.

Specifically, Article 2, para. 41 after the revision of the same law set out

“High frequency trading means the actions as set forth in (i) through (iii) below where the decision making concerning such actions is determined automatically through an electronic information processing system, and the information necessary for the sale/purchase of securities or the market transactions of derivatives5 based on such decision is communicated through information technology to the financial instruments exchange or any other person specified by the Cabinet Office Ordinance, with the methods to be used in order to shorten the time usually required for such communication to be specified in the Cabinet Office Ordinance (except those specified by the Cabinet Order as actions which are considered harmless for the purpose of protection of investors, considering the details of such actions):

(i) Sale/purchase of securities or market transactions of derivatives;

(ii) Entrustment of the actions described in (i); and

(iii) In addition to (ii), actions related to those described in (i) which are specified in the Cabinet Order to be equivalent to those described in (i) and (ii).”

And a registration system for traders who conduct high-speed algorithmic transactions (high-speed trading actors, 42 paragraphs) is introduced (Article 66 ss 50).

Traders are required  to take

(1) measures relating to system development and risk management

(2) measures relating to information provision to the authorities, etc.

(3) other provisions .

(1) measures relating to system development and risk management

System development (Article 66 -55)

As measures related to risk management, Proper management and operation of trading system (57),

appropriate business management system ·

Secure of property basis (58),

establishment of representatives or agents in Japan (in case of foreign corporation)

 (2)  measures relating to information provision to the authorities,

 Report  to authorities about performing high-speed transactions  & transaction strategies.

Create and save transaction records (58)

Regulatory review / inspection / business improvement order etc by the authorities etc. (58, 60, 67)

(3) As other provisions

 Prohibition of brokerage commissioned by a securities company from those who do not register at high speed, etc. Investigation by exchanges for those who conduct high-speed transactions (Article 85-5)

When introducing the WG report,there is criticism that there is a hindrance to price formation focusing on the profitability (original corporate value) of companies from medium- to long-term  view in the stock market where the share of algorithmic high-speed trading accounts for a majority.

In stock trading, there are two methods of trading.The one is “fundamental trading” which focus the profitability  of the company.The other is “technical  trading” which focus on price fluctuations themselves. The popularity of “technical  trading” is  not a problem caused by AI technology because that  existed before algorithmic trading became popular.

 

Ikuo Takahashi will have a talk about legal chatbot in the AI symposium

Ikuo Takahashi will have a  talk about legal chatbot in the AI symposium.

The symposium,titled as “Does AI change legal practice?”,will be held as follows;
(In Japanese)

Date and time
Wednesday, November 29, 2017, 13: 00-16: 00

Location Bar Creole 2F Creo A
Access http://www.nichibenren.or.jp/jfba_info/organization/map.html

The theme “Artificial intelligence changes legal affairs?”

Program (planned)
1 Achievement point of current artificial intelligence technology
Japan Microsoft Corporation
Principal software development engineer
Daiyu Hatakeyama

2 Practical efficiency improvement by utilizing AI technology
Nippon Catalyst LIMITED
COMPANY BUSINESS DEVELOPMENT MANAGER
Michigan lawyer USA
Tracy Greenwood

3 Legal consultation support by chat bot
Lawyer Ikuo Takahashi

4 Impact of population intelligence on future practice
Director Mete Yazuji, LexisNexis Japan Co., Ltd.

5 Legal Issues of Legal Practice of Artificial Intelligence
Attorney Aya Saito
6 Panel Discussion

You can access the announcement by Japan Law Foundation.