December, 17, 2008
Financial Services Agency
Publication of the "Report by the First Subcommittee of the Sectional Committee on Financial System of the Financial System Council: Toward Building Reliable and Vibrant Markets"
Beginning in October 2008, the First Subcommittee of the Sectional Committee on Financial System of the Financial System Council (chaired by Kazuhito Ikeo, Professor, Faculty of Economics, Keio University) held five sessions of deliberations on ways to build market infrastructures that are fair and transparent and provide a high level of diversity and convenience. The deliberations focused on the following issues, from the standpoint of strengthening the competitiveness of Japan's financial and capital markets, while giving due consideration to the global market turmoil caused by the U.S. subprime mortgage problem:
(i) A framework for regulation of credit rating agencies;
(ii) Alliances among financial instruments and commodity exchanges; and
(iii) Review of the disclosure systems.
As for the review of the disclosure systems, the Disclosure Working Group set up under the Subcommittee held deliberations from the experts' viewpoints.
Based on these deliberations, the Subcommittee put together and published today a report, "Toward Building Reliable and Vibrant Markets." The Disclosure Working Group also put together a report, "On the Review of the Disclosure Systems."
- "Report by the First Subcommittee of the Sectional Committee on Financial System of the Financial System Council: Towards Building Reliable and Vibrant Markets" (PDF:122KB)
- "Report by the Disclosure Working Group, First Subcommittee of the Sectional Committee on Financial System of the Financial System Council: On the Review of the Disclosure Systems" (Available in Japanese (PDF:272KB))
Financial Services Agency
Tel +81-(0)3-3506-6000 (main)
Financial Markets Division (ext. 3615)
- About FSAPage list
- Ministerial Team
- Annual Reports
- Financial Policies Monitor
- Laws & RegulationsPage list
- Name of Laws and Regulations(PDF)
- Financial Instruments and Exchange Act
- Recent Changes
- Public Comment
- No Action Letter System
- PrinciplesPage list
- Strategic Directions and Priorities
- Progress and Assessment of the Strategic Directions and Priorities
- Policy Approaches to Strengthen Cyber Security in the Financial Sector
- Financial Monitoring Policy
- AnnouncementsPage list
- Press Conferences
- Press Releases
- Official Statements
- Great East Japan Earthquake-Related Information
- The Earthquake Centered in the Kumamoto Region of Kumamoto Prefecture 2016-Related Information
- List of Institutions
- To Operators of Specially Permitted Businesses for Qualified Institutional Investors, etc.