Firewall

Since the introduction of Japanese Firewall Rule in 1992, the information sharing restriction rule thereunder has been an obstacle for financial groups that run banks and securities firms under the same umbrella and wish to efficiently operate their businesses. Although the FSA deregulated the rule in 2022, because dual registration of sales personnel (for both bank and securities) is still not permitted, this has weakened the aim of the 2022 deregulation.