Progress Report on the FSA's Efforts Towards
"Better Regulation" by Commissioner Sato

The IBA welcomed back Mr. Takafumi Sato, Commissioner of the Financial Services Agency, to speak on the FSA's first progress report on the implementation of the "better regulation" initiative which was published in May 2008.  Commissioner Sato first addressed the IBA's membership in September 2007, not long after his appointment and the announcement of "better regulation" as an overarching theme of the FSA's broader agenda to strengthen the competitiveness of financial markets in Japan.  

This luncheon event held at Hotel Okura on June 26 provided the 150 people in attendance with an update on progress made in terms of the initiative's four pillars and five focus areas.  Commissioner Sato also shared results of a survey conducted in conjunction with the progress report and commented on the FSA's strategies going forward.

Commissioner Sato's speech to the IBA is posted at:   
http://www.fsa.go.jp/en/announce/state/20080626.html 

A summary of the progress report in English is available on the FSA's website at:
http://www.fsa.go.jp/en/news/2008/20080519.html

The full progress report in Japanese is available on the FSA's website at: 
http://www.fsa.go.jp/policy/br-pillar4/20080519.html



IBA Luncheon featuring
FSA Commissioner Sato
Hotel Okura, Tokyo
June 26, 2008

Mr. Paul Kuo
IBA Chairman

CEO & President

Representative Director

Credit Suisse Securities (Japan) Limited 

Mr. Takafumi Sato

FSA Commissioner