Press Conference by the Commissioner

(Excerpt)

22 October, 2001

Q.

The ratification of the International Convention on the Suppression of Terrorist Financing urgently requires the enactment of related domestic legislation. Please elaborate on the FSA's actions in this area, as well as the progress in the efforts made by the Ministry of Justice and other ministries and agencies concerned.

A.

As you may already know, the government has decided its policy to initial the International Convention on the Suppression of Terrorist Financing by the end of the year and to ratify the Convention at an early stage. As domestic legislation will be required to enforce the Convention in practice, the Working Group on Terrorist Financing Information has been launched led by the Cabinet Office for the purpose of discussing how to enact such domestic legislation in a swift manner. The FSA will actively participate in the Group and make all possible efforts toward the early enactment of domestic legislation.

Q.

What about the rate of progress at this stage?

A.

Issues relating to criminal penalties need to be studied by the Ministry of Justice, those related to administrative procedures by the FSA or the Ministry of Finance, and those related to compliance with the Convention by the Ministry of Foreign Affairs. Overall, the studies have just begun to be intensified. Everyone is aware that the discussions must be finalized quickly. That is my understanding.