Matters of opinion: Japan reviews legal market
Article Abstract:
Deregulation of the practice of foreign lawyers in Japan may be forthcoming. This is in view of a report by the Special Advisory Council on Reinforcement of Administrative Reform, an advisory body to Japanese Prime Minister Kiichi Miyazawa. The advisory body will recommend regulations to cover foreign attorneys. However, the Japan Federation of Bar Associations is expected to oppose such recommendations because allowing foreign lawyers to practice in Japan will threaten Japanese attorneys and society. The practice of foreign lawyers and law firms has largely been confined, even with the passage of a foreign lawyers' law in 1987.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Predators eye the carrion
Article Abstract:
Japanese banks are eager to take over security brokerages as the Tokyo Stock Exchange (TSE) has been facing an almost 60% collapse in stock prices since end-1989. Brokerages will have to cut costs by 30% over 1991 levels, and reach an average turnover of 300 billion yen a day. They may also face possible deregulation of commissions in 1993. Many, however, will have to merge or face being taken over by Japanese banks. Japanese banks will counter Article 65 of the Securities Exchange Law, which forbids banks from brokering or underwriting equities, by acquiring securities houses.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Marriages of convenience
Article Abstract:
Japan's Ministry of Finance (MOF) is calling for the revision of banking laws to ease restrictions on mergers. The MOF's proposal is intended to assist financially ailing banks through cost-efficient consolidation efforts. The proposed bill would allow commercial banks to merge with specialized institutions, such as trust banks and long-term credit banks.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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