Japan to reform Fiel, plans professionals market


Japan's cabinet approved a bill on March 4 submitted by the Financial Services Agency (FSA) for revisions to the Financial Instruments and Exchange Law (Fiel), which was enacted last September. The bill - which will now go to the Diet, Japan's parliament - is seen as the first major reform of the country's financial markets in more than 10 years, analysts say.

The crux of the changes is a plan to create a high-risk, high-return market for professional investors. By shutting out non-professionals

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