The Financial Services Agency may introduce as early as next fiscal year a system that will allow the Securities and Exchange Surveillance Commission to inspect Japan Post’s investment trust operations, FSA officials said Tuesday.
The financial watchdog has signaled its intention to allow post offices to sell investment trusts, though it will apply the same inspection and regulatory measures to post offices as those applied to private financial institutions, the officials said.
The FSA is currently negotiating with the Public Management, Home Affairs, Posts and Telecommunications Ministry, which supervises Japan Post operations, on the matter of allowing post offices to sell investment trusts financial products similar to mutual funds.
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