05 July 2010

Japan FSA and US SEC hold meeting on regulatory reforms

Taking into account the current developments of securities markets in Japan and the U.S., the FSA and the SEC discussed various issues including regulatory reform, enhancement of cooperation on enforcement and supervision, and developments surrounding accounting standards and auditing.

The Japan Financial Services Agency (FSA) and the United States Securities and Exchange Commission (SEC) held a meeting of the “FSA-SEC High-Level Dialogues” in Washington D.C.

 

The Dialogue was led by the FSA Commissioner Mikuniya and the SEC Chairman Schapiro and attended by other senior staff members from both organizations.

 

In the Dialogue, taking into account the current developments of securities markets in Japan and the U.S., the FSA and the SEC discussed various issues including regulatory reform, enhancement of cooperation on enforcement and supervision, and developments surrounding accounting standards and auditing.

 

 

Some of the areas of mutual interest discussed during the Dialogue included:

 

• Recent Regulatory Reforms in the U.S. and Japan
• Corporate governance and executive compensation
• Market supervision
• Accounting, auditing and disclosure
• Cooperation on cross-border market supervision and enforcement
• Issues related to the regulation of credit rating agencies, hedge funds, OTC derivatives and short selling

 

Press release

 

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