April 24, 2008
Financial Services Agency

FSA publishes ''The Principles in the Financial Services Industry''

The Financial Services Agency (FSA) and the representatives of the financial services industry have agreed on the key principles to be shared and respected when financial firms conduct their business as well as when the FSA takes supervisory actions.

In its efforts toward better regulation, and an improved regulatory environment for the financial sector, the FSA has presented the concept of an ''optimal combination of rules-based and principles-based supervisory approaches'' as one of the four major pillars of the initiative, and has held extensive discussions with representatives of relevant financial firms on key principles, which would become the cornerstones of principles-based supervision.

In line with the Principles, the FSA partially amended the ''Administrative Action in the Financial Sector'', as described in attachment 2.

• On the Principles in the Financial Services Industry (PDF:43KB)
• Attachment 1: The Principles in the Financial Services Industry (PDF:18KB)
• Attachment 2: Administrative Action in the Financial Sector (Amended) (PDF:65KB)
• Administrative Action in the Financial Sector(Old/New Comparison Table) (PDF:69KB)