The Finance Ministry on July 31 outlined a package of securities-related deregulation measures that includes lifting a ban on cash management accounts and allowing investment trusts to be sold at banks.
The measures are to take effect by the end of the year, with the lifting of the ban to be implemented in October and sales of investment trusts to begin in December. The steps are part of the government’s so-called “Big Bang” financial reform and are intended to expand entry of financial institutions into each other’s business areas. Under the measures announced July 31, securities firms would be able to introduce cash management accounts beginning Oct. 1.
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