In 2014, a variety of discussions had been conducted to enhance the functions of Japan’s financial and capital markets, and high-level recommendations were issued, whose themes include the necessity to strengthen Tokyo’s status as a global financial center.
With these movements in mind, the securities and asset management industries collaborated and set up “the Council for Tokyo Global Financial Center Promotional Activities” in September 2014. The secretariats for the council are the Japan Securities Dealers Association, Japan Exchange Group, Inc., The Investment Trusts Association, Japan and Japan Investment Advisers Association.
The members at the council discussed a wide range of topics such as the advantages and disadvantages of Japan, its role as a global financial center, and its future prospects. The report from the council was published in September 2015.
Reflecting on the issues related to the asset management, etc. outlined in the council report, the WG on the asset management was set up under the council in September 2015. The WG discussed measures to strengthen the Japanese Asset Management industry, and to provide investment products that would tie in with investors’ medium- to long-term asset building. The report from the WG was issued in June 2016.
*6th and 7th meetings of the council were held by circulating the draft council report and the WG report to the members, without the holding of physical meetings.