The government plans to ease rules on commercial banks selling stocks at their branches through affiliated brokerages to encourage individuals to invest in the stock market, Financial Services Agency sources said Monday.
The measure will be part of an action plan on revitalizing the stock market to be released by the FSA by the end of this week, they said.
Banks currently may sell stocks only at counters separated from bank tellers by partitions and accessed through different entrances. The rules aim to alert customers to the risks of investing.
The government plans to revise the Cabinet Office Ordinance by the end of this year to allow banks to open stock sales counters in their outlets without such separations, the sources said.
The measure will help major banks' efforts to improve their profitability by establishing outlets that offer comprehensive services for banking, securities and insurance through their affiliates.
The FSA will also consider allowing banks without affiliated brokerage houses to sell shares with the help of existing securities firms, the sources said.
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