September 6, 2006

FSA BRIEFING

Date:	Wednesday, September 6, 2006
Time:	12:00 to 1:30 P.M.
VENUE	HSBC Building (MAP: http://www.hsbc.co.jp/jp/about/map.htm) 10th floor, Multi-Purpose Room, 3-11-1 Nihonbashi, Chuo-ku
Fee:	Y3,000 per person (Payable at the door)
Open to:	All staff of IBA member institutions

OVERVIEW OF THE NEW FINANCIAL INSTRUMENTS AND EXCHANGE LAW (FIEL)

(This presentation was conducted in English.)

Guest Speaker:

Mr. Naohiko Matsuo, General Counsel and Director, Financial Instruments and Exchange Law, Financial Services Agency

Mr. Matsuo gave an overview of the new FIEL, which perhaps is the most comprehensive financial legislation introduced in Japan in a generation, amending 89 laws and abolishing 4 laws.

The basic goals of the FIEL are to: (1) establish a cross-sectional framework for a wide range of financial instruments and services; (2) enhance disclosure requirements; (3) enhance criminal penalties; and (4) provide organizational structures for the self-regulatory functions of exchanges. This presentation was of interest to banks and securities firms. A Q&A session followed this meeting.

Mr. Matsuo assumed his current responsibilities for the Financial Instruments and Exchange Law in 2005 and has played a key role in developing the policy framework and legislation. From 2002-2005, Mr. Matsuo was the FSA's Director for International Financial Markets. Before moving to the FSA in 2001, he held progressively senior positions at the Ministry of Finance, which he joined in 1986. Mr. Matsuo has a Masters degree from Harvard Law School and a Bachelor of Law degree from the University of Tokyo.