(Provisional translation)
May 29, 2009
Financial Services Agency

FSA, MOJ and MOF publish a draft amendment to the “Order on Transfer Account Management Institutions” regarding Foreign Transfer Account Management Institutions

On May 27, 2009, the Financial Services Agency (FSA), the Ministry of Justice (MOJ) and the Ministry of Finance (MOF) issued a draft of the amendment to “Order on Transfer Account Management Institutions” for public consultation.

The full text of the draft amendment is available in Japanese on the FSA Website.

1. Outline of the amendment

If a foreign financial institution wishes to become a Transfer Account Management Institution (“kouza kanri kikan”), which may open accounts for the holding and transfer of the right of shares, etc. for its customers, it is required to be designated by competent ministers under Article 44, Paragraph 1, item 13 of the Act on Transfer of Bonds, Shares, Etc (“shasai, kabushiki tou no furikae ni kansuru houritsu”).

The amended “Order on Transfer Account Management Institution” would provide for the procedure regarding such designation. Details of the content of the amendment are as follows:

2. Planned date of implementation

August 1, 2009

Comments should reach us by June 26, 2009.
Comments may be sent with the reason by post, fax, or e-mail, and should be accompanied by the name of the person and/or organization and contact information, including the mailing address of the person and/or organization. Comments by phone is not accepted.

Please note that your comments may be made public with your name. The FSA will not respond to any individual respondent in person.