The 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 as 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 about 500 members consisting of securities firms, banks, and other financial institutions operating securities businesses in Japan.
As a fully empowered SRO, the JSDA extensively regulates market intermediaries. Its self-regulatory functions encompass rulemaking, enforcement, inspection, disciplinary action, accreditation of sales representatives, and dispute mediation.
The JSDA also provides vehicles for policy dialogue among the industry, the government, and other related parties; conducts and promotes investor education; and implements studies to further activate the market.
The Missions of the JSDA are to contribute to the protection of investors by ensuring fair and smooth trading in securities or other transactions by Association Members and to promote the sound development of the Japanese financial instruments business.
Association Members are categorized into three groups:
*Those who conduct the registered financial institutions businesses (among the businesses 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 Transactions, etc.) or Securities, etc. administration business).
As of Dec. 3, 2018, Association Members include 266 Regular Members, 7 Specified Business Members, and 205 Special Members.
To view a PDF file, Adobe Reader (free) is required. Adobe Reader may be downloaded from the Adobe Reader Download page.