Experts from KPMG discussed the outlook of the Japanese regulatory requirements regarding foreign financial institutions’ local governance and current challenges, referring to the EU and U.S. regulators’ discussions on strengthening the financial institutions’ governance as well as the result of recent FSA inspections. Discussion also included the internal audit function’s role in assessing governance, together with highlighting important points in conducting audits.
Lawyers from Clifford Chance gave an overview of the proposed new regimes, focusing on key issues relevant to foreign financial institutions (such as, bail-in, temporary stay of the early termination clause, and funding for resolution) and made comparisons to the regimes in other countries.
