FSA holds the fourth meeting of the Joint Committee on Financial Services Co-operation with MAS

On April 23, 2008, the Financial Services Agency (FSA) held today the fourth meeting of the Joint Committee on Financial Services Co-operation ("the Committee") with the Monetary Authority of Singapore ("MAS"). The Committee was established pursuant to a provision in the Japan-Singapore Economic Partnership Agreement, which took effect on November 30, 2002.

The FSA and MAS have maintained close cooperation for many years. This meeting contributes to the FSA's efforts to "strengthen cooperation with supervisory authorities in rapidly growing Asian markets" as referred to in the Plan for Strengthening the Competitiveness of Japan's Financial and Capital Markets, which was issued in December 21, 2007.

The meeting was held at the MAS in Singapore. Mr. Nobuyoshi Chihara, the FSA's Deputy Commissioner for International Affairs, headed the Japanese delegation, while the Singaporean delegation was led by Ms. Teo Swee Lian, Deputy Managing Director in charge of Prudential Supervision at MAS.

The participants exchanged views on, among others, the recent developments in financial regulation in Japan and Singapore, and international developments. They also reaffirmed commitment to strengthen cooperation between the financial authorities in both countries.