Japan plans major regulatory overhaul
Wednesday 5 January 2011 - by Andrew Hickley
The Japanese Financial Services Authority is set to implement a detailed action plan over the coming year, with planned changes including reforms of international tax rules and a reforming of the tax treatment of OTC derivatives.
The FSA will also review accounting standards used, in an attempt to tailor them to the actual circumstances of small and medium-sized enterprises.
To do this, it has encouraged firms to conduct their own studies detailing how they can improve confidence in public listing examinations and reduce the burdens on listed companies. The FSA has said it will set up a conference to discuss the conclusions which firms find.
The plan, drafted on December 7, details a number of changes that should be achieved over the coming fiscal year.
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