Margin trading in foreign currencies had long been considered a market synonymous with lawlessness, with problems ranging from heavy-handed soliciting techniques to rogue dealers swindling investors out of their deposits.
But financial regulators have stepped up efforts to clamp down on dealers to better protect consumers from improper sales and promotion tactics, with revisions to the Financial Futures Trading Law taking effect July 1.
The stricter law coincided with the opening that day of Click 365, a new market on the Tokyo Financial Exchange where individuals can engage in round-the-clock margin trading in foreign currencies.