Mr. Kiyotaka Sasaki, Deputy Director-General, Inspection Coordination Division, FSA
Mr. Sasaki gave an overview of the new financial inspection policy for banks for 2011-12, with an emphasis on areas of particular importance for foreign banks.
Mr. Tetsutaro Muraki, President, CEO, TOKYO AIM, Inc.
Mr. Muraki gave an overview of the “Tokyo Pro-Bond Market”, a new bond market for professional investors established under the revised FIEL. He discussed the legal structure of the bond market for professional investors; features of the “Tokyo Pro-Bond Market”; and the criteria for issuers.
Mr. Steve Kusumi, Head of Japan, McLagan Partners Asia, Inc.
Mr. Kusumi gave an overview of recent compensation trends and issues affecting the foreign financial services industry in Japan. He discussed recent compensation trends globally and in Japan; the regulatory environment and implications for compensation; and other emerging drivers of compensation.
Mr. Masahiro Fujita, Senior Inspector, Inspection Division, SESC
Mr. Fujita will discuss the system risk management framework expected for financial instruments firms from the perspective of a senior SESC inspector. He will cover the scope of system risk management, the key focuses of the FSA Supervisory Guidelines and the SESC Inspection Manual, and issues related to system risk management which are frequently found in SESC inspections, including those often found at foreign firms.
This training seminar provided insights into: recent regulatory dynamics at the FSA and SESC; new areas of focus and the regulatory intent; expectations of internal audit and how to respond; key control issues; and practical measures for IBA member firms to use in a regulatory inspection.