The reform or the change in financial law is in a worldwide tendency. Such a situation is the same in not only Korea but also Japan with a similar legal system to it. Financial Big Bang in 1998 is started in Japan and, up to now, legislation related t...
The reform or the change in financial law is in a worldwide tendency. Such a situation is the same in not only Korea but also Japan with a similar legal system to it. Financial Big Bang in 1998 is started in Japan and, up to now, legislation related to a lot of financial law has been performed. This research introduces mainly three important laws separately at time about reforming financial law in Japan. The overall frame and the feature are the main objects around an important system. The three law are Financial Big Bang in 1998, Financial Instruments and Exchange Act in 2007, and Fund Settlement Act in 2009. It is Financial Services Agency to play the most important role in japanese financial reform. It means it is the most important that financial authorities play a leading role in legislation related to finance. There is a target of reforming financial law in Japan in not only the investor`s protection but also a national economic development by the promotion of the investment. The latter is not so though the former achieved an expected result. I think that coexisting of the investor`s protection and the promotion of the investment is problems of an eternal financial law.