Clifford Chance

Japan's new era of investor engagement, transparency and innovative asset management

12 April 2024

Japan is set to introduce targeted updates to the Financial Instruments and Exchange Act (FIEA), the key securities law in Japan, in 2024. The amendments are aimed at refining three critical areas: (i) large shareholding reporting rules, (ii) takeover bid rules and (iii) the framework for sophisticated and diversified asset management businesses. The proposed amendments to the FIEA will significantly enhance transparency and strategic engagement opportunities for equity investors, while offering asset management companies innovative business models and expanded investment options.

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