Japanese

(Provisional translation)
May 9, 2017
Financial Services Agency

Publication of the Report by the Working Group on Financial Markets under the Financial System Council

 The Working Group on Financial Markets under the Financial System Council (chairman Hideki KANDA, Professor, Gakushuin University Law School) has discussed and deliberated on various issues related to financial markets and exchanges in Japan twelve times since May 2016.
 
  Based on the results of the discussions, the Working Group has compiled the “Report by the Working Group on Financial Markets under the Financial System Council -Initiatives toward Stable Asset Buliding and the Development of Institutional Systems related to Markets and Exchanges-”.
 
  Also, the “Task Force on Fair Disclosure Rule” (chairman Etsuro KURONUMA, Professor, Waseda Law School) under the Working Group, has discussed and deliberated on Fair Disclosure Rule three times since October 2016.
 
  The Task Force has compiled the “Report - Ensuring fair and timely disclosure of information to investors”, which has been reported to and approved by the Working Group.
 
  The reports (as attached hereto) are provisional translations of the original Japanese reports.

Report by the Working Group on Financial Markets under the Financial System Council -Initiatives toward Stable Asset Buliding and the Development of Institutional Systems related to Markets and Exchanges-

Report - Ensuring fair and timely disclosure of information to investors