Provisional Translation
December 18, 2007
Financial Services Agency

Publication of the "Report by the First Subcommittee of the Sectional Committee on Financial System of the Financial System Council: Towards Strengthening the Competitiveness of Japan's Financial and Capital Markets", etc.

Since October 2007, 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) has held nine sessions of deliberations on the following issues with a view to strengthening the competitiveness of Japan's financial and capital markets.

Regarding the review of the administrative monetary penalty system, the "Working Group on Legislative Issues" was established under the First Subcommittee for the purpose of conducting deliberations from the viewpoint of experts.

"Report by the First Subcommittee of the Sectional Committee on Financial System of the Financial System Council: Towards Strengthening the Competitiveness of Japan's Financial and Capital Markets" and "Report by the Working Group on Legislative Issues, The First Subcommittee of the Sectional Committee on Financial System of the Financial System Council: Recommendations on the Administrative Monetary Penalty System"are compiled as a result of deliberations by the First Subcommittee.

• "Report by the First Subcommittee of the Sectional Committee on Financial System of the Financial System Council: Towards Strengthening the Competitiveness of Japan's Financial and Capital Markets" (PDF:166KB)
• "Report by the Working Group on Legislative Issues, The First Subcommittee of the Sectional Committee on Financial System of the Financial System Council: Recommendations on the Administrative Monetary Penalty System" (PDF:25KB)