Trading Securities over the Internet: Recent Developments in Japanese Securities Regulation

Abstract

I. Introduction
II. The Use of Electronic Data in Place of Paper Documents
1. American Precedent
2. IOSCO
3. Revision of Japanese Regulation
4. Evaluation
III. Conflicts of Jurisdiction
1. “Targeted at” Approach
2. Japanese Guidelines
3. Remaining Issues
IV. Providing of Financial Services Online
1. Duty of Online Brokers to Ensure Security
2. Who Is a Broker?
V. Conclusion