Press Conference by Taro Aso, Deputy Prime Minister, Minister of Finance, and Minister of State for Financial Services

(Excerpt)

(Friday, March 14, 2014, 8:44 am to 8:53am)

Opening statement:

The Cabinet has approved the Bill to Partially Amend the Financial Instruments and Exchange Act Etc. and the Bill to Partially Amend the Insurance Business Act Etc. The first bill, the Bill to Partially Amend the Financial Instruments and Exchange Act Etc., contains measures for bolstering the supply of risk money as called for under the “JAPAN Revitalization Strategy” and other policies, necessary measures for enhancing trust in Japan’s financial and capital markets following, for example, cases of the misselling of funds in recent years, and so on. The other bill, the Bill to Partially Amend the Insurance Business Act Etc., reflects the fact that business conditions for insurance companies are undergoing great changes, and contains necessary measures for promoting more appropriate solicitation practices by insurance companies etc. and helping them to develop their businesses smoothly. I hope that these bills will be debated and passed by the Diet swiftly.

(End)

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