A Ministry of Economy, Trade and Industry panel studying investment funds urged the government Tuesday to let foreign investment trust companies register their products in English to simplify procedures.
The METI study group, launched in September, issued a report saying the rule in the investment trust law requiring overseas investment firms to submit documents in Japanese "generates unnecessary costs" and means "excessive regulations" for investors.
The panel, headed by Kazuhito Ikeo, an economics professor at Keio University, said supervisory authorities should accept English documents from foreign investment funds so Japan can be a global financial center.