Some steps already implemented:
1) introduction of asset management accounts;
2) sale of investment trusts at bank teller windows;
3) lifting of ban on brokerages' handling of unlisted stock;
4) framework for financial holding companies;
From April 1:
5) easing of foreign exchange restrictions;
6) more autonomy for Bank of Japan;
7) liberalized brokerage commissions for stock trades worth more than 50 million yen;
8) introduction of prompt corrective action system to check banks' creditworthiness;
In the future:
9) liberalization of nonlife insurance premium rates (July 1998);
10) transfer from an authorization to a registration system for brokerages (December 1998);
11) direct sale of investment trusts by banks (December 1998);
12) cross entry between insurance firms and other financial institutions via subsidiaries (by March 2001).
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