Japan FSA Plans New Division to Oversee Asset Managers, Insurers

Japan’s financial regulator plans to set up a division to oversee the asset management and insurance industries, as part of its efforts to drive improvements in the sectors.

The new bureau would seek to advance the government’s goal of turning Japan into a global asset management hub while addressing misconduct in the insurance sector, according to documents reviewed by Bloomberg News. The proposal will be included in the Financial Services Agency’s staffing and organizational requests for the next fiscal year, which are due by the end of August.