Deregulation

Deregulation
2006.01.27 15:29

Deregulation in the field of stock market in Japan has been in progress. Now almost the half of shares are owned by individuals in which 80% are dealt with in the Internet.
However Japan's Security and Exchange Committee remains to be just one of the subdivision of Financial Agency. It is not an independent organisation. SEC couldn't work well to keep the healthy state of the stockmarket, so Tokyo Local Prosecutor's Office -Japan's strongest investigative Body directly arrested Horiemon in charge of stockmarket fraud, which is very unusual. I still believe arrest of Horiemon in this case is very political. Liberal Democratic Party and Horiemon represent liberal, progressive forces in Japan. Tokyo Prosecutors Office happened to play a reactionary role, aside from his apparent violation in related laws.
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