Japan Securities Dealers Association (JSDA)

Japan Securities Dealers Association (JSDA) is the only organization in Japan authorized by the Prime Minister under the Securities and Exchange Law (Paragraph 2 of Article 68), and consists of all the national securities companies and registered financial institutions (as members of the association). Members of the association are categorized into two groups: regular members and special members. Two hundred and ninety securities companies, including forty­nine foreign securities companies, were regular members of the JSDA as of end­March 2002. Two hundred and thirty one registered financial institutions have joined the association as special members.

The purposes of the JSDA are as follows: 1) to protect investors by ensuring fair and smooth trading in securities and other transactions by members of the association; 2) to promote the implementation of policy measures for the revitalization of the Japanese securities markets in order to contribute to the growth and development of the Japanese economy; 3) to establish an over­the­counter securities markets and promote the efficient circulation of securities in the markets as well as to ensure fair trading in securities and other transactions.