NO&T Japan Legal Update
I. Introduction
On June 3, 2016, the Reform Act of the Banking Act (the ‘Reform Act’), which includes amendments to the Banking Act of Japan, was enacted. Scheduled to be implemented by no later than June 3, 2017, the Reform Act contains important deregulation measures that will have a significant impact on the business relationships between banks and FinTech companies. This article summarizes some of the notable changes to the existing regulatory frameworks that will impact on the FinTech environment in Japan.
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