Financial Instruments and Exchange Act
The Financial Instruments and Exchange Act (金融商品取引法, Kin'yū shōhin torihiki-hō), promulgated on June 14, 2006, is the main statute codifying securities law and regulating securities companies in Japan.
The law provides for:
- Registration and regulation of broker dealers and their registered representatives
- Disclosure obligations applicable to public companies, investment trusts and similar entities
- Tender offer rules
- Disclosure obligations applicable to large shareholders in public companies
- Internal controls in public companies; in this role the law is often referred to as J-SOX, a reference to the American Sarbanes-Oxley Act (SOX).
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