The is a Japanese commission which comes under the authority of the
Financial Services Agency
The is a Japanese government agency and an integrated financial regulator responsible for overseeing banking, securities and exchange, and insurance sectors in order to ensure the stability of the financial system of Japan. The agency operates ...
. It is responsible for “ensuring fair transactions in both securities and financial futures markets.”
Its current Chairman is Mitsuhiro Hasegawa, who assumed the post in 2017. There are two chairmen, Shinya Fukuda, and Masayuki Yoshida.
History
The SESC was formally established on July 20, 1992, in the wake of a number of 1991 scandals related to securities companies. In June 1998, the Financial Supervisory Agency and the SESC were split off from the
Ministry of Finance
A ministry of finance is a ministry or other government agency in charge of government finance, fiscal policy, and financial regulation. It is headed by a finance minister, an executive or cabinet position .
A ministry of finance's portfoli ...
, and the Financial Supervisory Agency became the Financial Services Agency.
Structure
The SESC has five objectives, and a division to handle each one:
* Market Surveillance
* Compliance Inspection
* Disclosure Document Inspection
* Administrative Civil Monetary Penalties Investigation
* Enforcement-Investigation and Filing Criminal Charges
Criticisms
Unlike the
U.S. Securities and Exchange Commission
The United States Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street crash of 1929. Its primary purpose is to enforce laws against market m ...
, the SESC doesn't have the power to punish those who violate the law or regulations. Instead, it reports its findings to the cabinet, prosecutors, and the
Financial Services Agency
The is a Japanese government agency and an integrated financial regulator responsible for overseeing banking, securities and exchange, and insurance sectors in order to ensure the stability of the financial system of Japan. The agency operates ...
with recommendations. In addition to which, it has been described as understaffed - as of 2004, the SESC had 444 staff, as compared to 3100 at the US SEC. The total number of SESC staff had increased to 697 as of fiscal year 2010.
[SESC websit]
Organization
Retrieved on July 13, 2012
See also
*
List of financial regulatory authorities by jurisdiction
In this list of financial regulatory and supervisory authorities, central banks are only listed where they act as direct supervisors of individual financial firms, and competition authorities and takeover panels are not listed unless they are set ...
References
External links
Securities and Exchange Surveillance Commission
Japan
Japan is an island country in East Asia. Located in the Pacific Ocean off the northeast coast of the Asia, Asian mainland, it is bordered on the west by the Sea of Japan and extends from the Sea of Okhotsk in the north to the East China Sea ...
Cabinet Office (Japan)
Japanese
Japanese may refer to:
* Something from or related to Japan, an island country in East Asia
* Japanese language, spoken mainly in Japan
* Japanese people, the ethnic group that identifies with Japan through ancestry or culture
** Japanese diaspor ...
{{Japan-gov-stub