The Tokyo Stock Exchange is failing in its duty as a market referee, according to the chairman of a prominent Japanese investment fund.
The TSE must serve as arbiter of the regulations for companies that it started in June 2015, said Yasushi Ando of New Horizon Capital Co., who's also an adviser to the Tokyo Metropolitan Government.
If it doesn't, executives will assume they can ignore the rules, which aren't legally binding, he said.
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