Partial revision of the "Reference Cases" regarding the "Independent Agent Exemption" of fund managers

The Financial Instruments and Exchange Act was amended to establish a new entry system regarding the investment management business with the updated procedures (notification) pertaining to Special Business during Transition Period.

In response, the FSA, in consultation with the relevant authorities, has revised the "reference cases" regarding the "Independent Agent Exemption" of fund managers with respect to the definition of "Investment Manager".

Contact

Financial Services Agency, Strategy Development Division, Strategy Development and Management Bureau

foreignpr@fsa.go.jp

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