On December 12, 2023, the Asset Management Task Force of the Financial System Council (the "Asset Management TF") and the Working Group on Capital Market Regulations of the Financial System Council (the "Capital Market Regulations WG") jointly compiled and published the "Report of Working Group on Capital Market Regulations and Asset Management Task Force of the Financial System Council" (the "Asset Management TF Report" or "the report"). The Asset Management TF was established under the Capital Market Regulations WG on October 3, 2023, under circumstances wherein the realization of the promotion of Japan as a leading asset management center is the government's major policy issue, in order to carry out expert discussions, including regarding an institutional framework for asset management.
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