About JSDA

Profile

Association Outline

Japan Securities Dealers Association (JSDA) is an association functioning as a self-regulatory organization (SRO) and as an interlocutor for the securities industry. Its legal status is a Financial Instruments Firms Association authorized by the Prime Minister pursuant to Article 67-2, Paragraph 2 of the Financial Instruments and Exchange Act (FIEA). Today JSDA comprises more than 500 members consisting of securities firms and other financial institutions operating securities businesses in Japan.
As a fully empowered SRO, JSDA extensively regulates market intermediaries. Its self-regulatory functions encompass rule-making, enforcement, inspection, disciplinary actions, accreditation of sales representatives, and dispute mediation.
JSDA also provides vehicles for policy dialogue among the industry, the government and other related parties, conducts and promotes investor education, and implements studies for further activating the market.

Purposes

The purposes of JSDA are to contribute to the protection of investors by ensuring fair and smooth trading in securities or other transactions by Association Members and promoting the sound development of the Japanese financial instruments business.

Types of members

Association Members are categorized into three groups:

  1. Regular Members: Financial Instruments Firms conducting the First Financial Instruments Business (excluding, however, OTC Derivative Transaction Members stated in 2. below)
  2. OTC Derivative Transaction Members: Financial Instruments Firms conducting the First Financial Instruments Business that only conduct the Specified OTC Derivative Transactions, etc. and those who only conduct the Specified OTC Derivative Transactions, etc. and the OTC Financial Futures Transactions, etc.
  3. Special Members: Registered Financial Institutions* prescribed in Article 2, Paragraph 11 of the FIEA.
  • Those who conduct the registered financial institutions business (among the business prescribed in Article 33-2 thereof, those set forth in Item 1 of the said Article (excluding those related to the rights that are set forth in each Item of Article 2, Paragraph 2 thereof and regarded as securities prescribed in the said Paragraph), Item 2 (excluding those related to the rights that are set forth in each Item of Article 2, Paragraph 2 thereof and regarded as securities prescribed in the said Paragraph), or Item 3 (limited to those related to the Specified OTC Derivative Transaction, etc.) or Securities, etc. administration business).

As of May 16, 2012, Association Members include 279 Regular Members and 217 Special Members. There is no firm registered as OTC Derivative Transaction Members at this time.

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