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June 26, 2009 Preface Speech by S. Inukai of Waseda University
Shieghito Inukai Professor, Faculty of Law & Global Center of Excellence – Waseda Institute for Corporation Law and Society, Waseda University
My name is Shigehito Inukai, Professor, Waseda University Faculty of Law.
We would like to express our special thanks to Joe Meade who kindly gave us Japanese Attendee a chance to facilitate presentation at this conference and to report all of you the progress we have made in Japan.
Let me introduce today’s speakers. Mr. Nakazawa, Director of Financial Services Agency - Japanese Government. And Mr. Yanase, Chairperson of the Japan Financial ADR/Ombudsman Research Group.
In December 2008, the Japanese FSA officially announced the policy that it would legislate for Financial Services ADR in Japan. Based upon this policy, on the 17th of June, 2009, so called “the Financial Services ADR Act” was approved by the Japanese Congress. This was an epoch making event in Japan!
Mr. Nakazawa will briefly explain about this new law later.
I would like to touch upon Two Proposals related to Financial Services ADR/Ombudsman developments in Japan.
The approval of the Financial Services ADR Act in 2009 is an extremely important outcome for Waseda University COE Institute to realize its 2005 Proposal in the “NIRA Market Governance Report 2005” which was jointly made by National Institute for Research Advancement (NIRA) and Waseda COE Institute in 2005.
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And as you can see here the White colored English booklet, the November 2008 Proposal of the Japan Financial ADR/Ombudsman Research Group played an extremely important role for realizing the new Financial Services ADR Act.
The Japan Financial ADR/Ombudsman Research Group, established in April 2007, has its origin in the 2005 Proposal and has conducted research on financial Services ADR/Ombudsman over the past two years.
Mr. Yanase will make explanation about the history-making activity of this group later.
I am happy to hear that Japanese FSA persons in charge frequently referred this November 2008 Proposal for making the Financial Services ADR Act.
As an epoch-making milestone for the development of financial Services ADR/Ombudsman functions and systems in Japan, we understand that this November 2008 Proposal has a great value for global references.
So, in 2008, the Japan Financial ADR/Ombudsman Research Group was so kind to provide Waseda University GCOE an opportunity to produce an ENGLISH Version of this November 2008 Proposal for global references including today’s presentation in Dublin.
We would like to express our sincere appreciation to Chairperson Mr. Shuji Yanase and all other members of the Japan Financial ADR/Ombudsman Research Group for giving consent to Waseda GCOE of making the English version of the November 2008 Proposal.
I have about 40 copies of the booklet here. If you are interested in reading this booklet, please tell me that later. We are happy to provide you this booklet as long as our inventory exists.
Sorry to have kept you waiting! Mr. Nakazawa and Mr. Yanase, please make your presentation now.
