|
Takafumi Sato, Commissioner of Japans FSA underlined that one of the top policy priorities for the current government is to strengthen the competitiveness of
Pointing on the shortcomings of
Sato outlined in detail the Plan’s four pillar approach which includes creating a reliable marketplace where vibrant transactions take place; putting in place a business environment that vitalises the financial services industry and promotes competition; improving the regulatory environment; and improving the broader environment surrounding our markets.
Turning to the recent financial market turmoil, Sato noted that this at present has not had a serious impact on the Japanese financial system itself. “The exposures and losses of Japanese banks are very limited in comparison with global figures”, he said and underlined that