The Association for Real Estate Securitization issued a disciplinary action against Sumisho Realty Management, the asset manager of SOSiLA Logistics REIT (TYO:2979), following an administrative action by Japan's Financial Services Agency, according to a Tuesday filing on the Tokyo Stock Exchange.
The industry body said the asset manager breached its voluntary code of conduct after the FSA took action in December for a violation of fiduciary duty under the Financial Instruments and Exchange Act.
The disposition was issued on Monday.
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