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FAQ

FAQs (Frequently asked questions)

Outline

Q1. What kind of activities is Japan Securities Dealers Association (JSDA) carrying out?
Q2. What are Association Members (JSDA member firms)?
Q3. Is the list of JSDA member firms available?
Q4. What is a self-regulatory organization (SRO)?
Q5. Apart from JSDA, is there any other self-regulatory organization related to financial and capital markets?

Statistics

Q1. Please tell us about the statistics that JSDA provides.
Q2. Is it possible to obtain data older than those provided on the Website?
Q3. What can I do when I cannot download statistical data, or when they are not displayed properly?

Sales Representative Qualification

Q1. Can I engage in securities business if I obtain a sales representative qualification?
Q2. I do not work for securities companies, etc. at the moment; will my qualification be canceled if I don’t attend a renewal training?
Q3. Does a sales representative qualification automatically get canceled if I resign from the company after obtaining the qualification?
Q4. How can I confirm the type and date of sales representative qualification I obtained in the past?
Q5. My name changed after obtaining the sales representative qualification; is there a procedure I must follow regarding this?
Q6. What is the difference between “Class-2” and “Class-1” sales representative qualification?
Q7. I obtained a Class-2 sales representative qualification while I was working for a bank; is this effective after becoming a securities company employee?
Q8. Are securities-related qualifications obtained overseas valid in Japan?

Sales Representative Qualification Exam

Q1. When are sales representative qualification exams held?
Q2. Can I take the Class-1 sales representative qualification exam without having Class-2 sales representative qualification?
Q3. I took a sales representative qualification exam, but don’t know if I’ve passed.

Sales Representatives Manual

Q1. At which book store can I purchase an English edition of the Sales Representatives Manual?
Q2. Are there study aids and past exams for the sales representative qualification exam on sale?

Others

Q1. Are there correspondence courses or seminars to prepare for the sales representative qualification exam?
Q2. Are there exam guidelines or pamphlets on sales representative qualification exam?

Outline

Q1. What kind of activities is Japan Securities Dealers Association (JSDA) carrying out?
A1. JSDA, based on its Articles of Association, is conducting 1) activities concerning self-regulation, 2) activities concerning promotion of the sound development of the financial instruments transactions, etc. and market, and 3) activities concerning international operations and exchanges. For more details, please refer to Major Activities.
Q2. What are Association Members (JSDA member firms)?
A2. Association Members are categorized into three groups; 1) Regular Members, 2) Specified Business Members, and 3) Special Members. For more details, please refer to Profile. As for the list of current Association Members, please refer to Members List.
Q3. Is the list of JSDA member firms available?
A3. Yes it is. JSDA offers its Members List. With regard to non-registered entities, please refer to Investor Alerts.
Q4. What is a self-regulatory organization (SRO)?
A4. "Self-regulation" means that the market participants discipline themselves not by laws and regulations but by a set of self-made rules on the basis of a spirit of autonomy in order to ensure trust toward the financial instruments market. JSDA, as a SRO under the Financial Instruments and Exchange Act, is conducting enactment of self-regulatory rules, inspections, disciplinary actions and public awareness activities for investment. For more details, please refer to JSDA as an SRO, a pamphlet outlining JSDA's self-regulatory activities. As for the self-regulatory rules introduced by JSDA, please refer to JSDA Rules.
Q5. Apart from JSDA, is there any other self-regulatory organization related to financial and capital markets?
A5. Apart from JSDA, there are such self-regulatory organizations as the financial instruments exchanges, the Investment Trusts Association, the Financial Futures Association of Japan, Japan Investment Advisers Association, and Type II Financial Instruments Firms Association.

Statistics

Q1. Please tell us about the statistics that JSDA provides.
A1. JSDA provides statistical data on equities, bonds, derivative products, securities industry, and others. As for the list of statistics, please refer to List of all statistics (including release dates of statistics).
Q2. Is it possible to obtain data older than those provided on the Website?
A2. Statistical data provided in English are entirely shown on the Website. As for the statistical information on the Japanese Website, you can see a certain past data that were compiled before statistics in English became available.
Q3. What can I do when I cannot download statistical data, or when they are not displayed properly?
A3. There are instances in which data cannot be downloaded, such as when data is being updated. Please wait for a while and try downloading again.

Sales Representative Qualification

Q1. Can I engage in securities business if I obtain a sales representative qualification?
A1. Obtaining a sales representative qualification alone will not allow you to engage in securities business. To engage in securities business, you must obtain the qualification, and work for a securities company, bank, or life/non-life insurance company, etc. (“Securities Company, etc.”), and become registered as a sales representative. Currently, JSDA is commissioned by the government to conduct administration of sales representative registration applications submitted by Association Members. For registration, statutory amount must be paid by the JSDA Member Securities Company, etc. as the registration fee.
Q2. I do not work for securities companies, etc. at the moment; will my qualification be canceled if I don’t attend a renewal training?
A2. Persons eligible for participating in qualification renewal training (a training for renewing sales representative qualification) are those currently working for a Securities Company, etc., and is registered as a sales representative. Eligible persons have obligation to attend the renewal training within a certain period, and the sales representative qualification will be canceled for failure to attend the training.
If a person is not working for a Securities Company, etc., he/she will not be registered as a sales representative, and will not be eligible for the renewal training. Therefor, the sales representative qualification will not be canceled.
Q3. Does a sales representative qualification automatically get canceled if I resign from the company after obtaining the qualification?
A3. The qualification will not be canceled unless it is canceled due to violation of laws/regulations, etc. (Investment trust and bonds sales representative qualification, etc. stated below are currently void.)
Q4. How can I confirm the type and date of sales representative qualification I obtained in the past?
A4. You can confirm with the Securities Company, etc. you worked with when you obtained the sales representative qualification, or confirm with JSDA.
If you wish to confirm with JSDA, Procedures Concerning Requests to Disclose, Correct, Delete, and to Suspend its Use, etc. will be necessary under the Act on the Protection of Personal Information.
Q5. My name changed after obtaining the sales representative qualification; is there a procedure I must follow regarding this?
A5. There is no need for changing the name related to sales representative qualification.
Q6. What is the difference between “Class-2” and “Class-1” sales representative qualification?
A6. Class-2 sales representative qualification will enable business of sales representative for so-called stocks in the cash market, etc.; however, it does not allow business of sales representative for high-risk products including margin transactions and derivatives transactions.
On the other hand, Class-1 sales representative qualification is positioned as a superior qualification to Class-2 sales representative qualification, and allows business of sales representative for all securities including margin transactions and derivatives transactions.
Q7. I obtained a Class-2 sales representative qualification while I was working for a bank; is this effective after becoming a securities company employee?
A7. Class-1 or Class-2 sales representative qualifications obtained while working for a bank or life/non-life insurance company, etc. is effective at a securities company.
Similarly, Class-1 or Class-2 sales representative qualifications obtained while working for a securities company will be effective at a bank or life/non-life insurance company, etc.
Q8. Are securities-related qualifications obtained overseas valid in Japan?
A8. Qualifications obtained overseas are not valid in Japan. Japan’s sales representative qualification cannot be substituted by an overseas qualification.

Sales Representative Qualification Exam

Q1. When are sales representative qualification exams held?
A1. In principle, exams are held every day except for Saturdays/Sundays/holidays and year-end/new year holidays. However, the date and time will differ depending on the examination site.
Q2. Can I take the Class-1 sales representative qualification exam without having Class-2 sales representative qualification?
A2. Persons who do not have Class-2 sales representative qualification have become eligible for taking the Class-1 sales representative qualification exam since January 2012.
Q3. I took a sales representative qualification exam, but don’t know if I’ve passed.
A3. For persons who took the exam through a JSDA Member Securities Company, etc., the result is notified to the human resources contact person, etc. Please contact the relevant person.

Sales Representatives Manual

Q1. At which book store can I purchase an English edition of the Sales Representatives Manual?
A1. Currently, they are not sold at book stores. Application for purchase can only be made through an Association Member to JSDA.
Q2. Are there study aids and past exams for the sales representative qualification exam on sale?
A2. JSDA does not sell study aids or past exams for the sales representative qualification exam. We are also not aware of businesses that sell study aids and past exams.

Others

Q1. Are there correspondence courses or seminars to prepare for the sales representative qualification exam?
A1. We do not sponsor any correspondence courses or seminars. We are also not aware of businesses that sponsor correspondence courses or seminars.
Q2. Are there exam guidelines or pamphlets on sales representative qualification exam?
A2. Currently, there are no pamphlets, etc. Please refer to the details on the exam at Sales Representative Qualification / Sales Representative Qualification Exam.
  1. Sales Representative Qualification/Sales Representative Qualification Exam
  2. Sales Representative Qualification Exam

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