A financial service law should be designed to cover all relevant sectors to better protect investors and improve efficiency in financial services, an advisory panel to the finance minister said Tuesday in an interim report.
A new regulatory framework, including rules in each sector, should cover all kinds of financial products ranging from stocks to derivatives trading, according to the Financial System Council.
The council will continue discussing rules on sales and solicitation and collective investment schemes, with particular consideration of growing transactions via the Internet and cross-border dealings.
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