Mar.20.2008

Japanese Bankers Association

Study Group on Legal Matters in Banking Publishes Report (Only in Japanese)

The second subgroup (subgroup leader: Professor Yoshihisa Nohmi, University of Tokyo) of the Study Group on Legal Matters in Banking (established by JBA and headed by Professor Emeritus Hitoshi Maeda of Gakushuin University) published a report titled Consumer Protection in Banking Transactions in the Current Business Environment on March 21. The composition of the report is as follows.

Chapter 1: Rules of Conduct for Banks concerning Contracts on Specific Deposits, etc.
Chapter 2: Duty to Provide Explanations and the Requirement for Suitability stipulated in the revised Financial Instruments Sales Law
Chapter 3: Review of the Bank Agent System according to the 2005 Amendments to the Banking Law – Focusing on Approval of Non-bank Agent Business Operations and Multiple Affiliate Banks
Chapter 4: Issues facing Insurance Sales at Banks
Chapter 5: Non Face-to-face Transactions – Focusing on Internet Banking
Chapter 6: Developments and Issues concerning Resolution System for Disputes on Financial Transactions – Focusing on Civil Action and ADR