Expansion of Japan’s role as an international financial centre
The EBC recognises and appreciates that the FSA established Financial Market Entry Office in January 2021 in order to simplify market entry procedure. A dedicated website has also been launched, in addition to the revised Cabinet Office Order to amend the Regulation for Enforcement of the Insurance Business Act. The EBC also appreciates the FSA’s tremendous efforts to improve provisions of English material in recent years. The EBC believes simplification of procedures and provision of English materials support foreign entities not only to enter Japan’s market, but also retain the business in Japan.
- The FSA should expand the scopes of materials which can be submitted in English
- The FSA should make effort to provide English summary at least on their important documents such guidelines, policies, etc. so that foreign insurers can more easily implement and follow them.