Focal Points of“JSDA’s Major Work Plans for 2020-2021 (July 2020)”
Addressing Challenges amidst the COVID-19 Pandemic

Achievement of a securities market that
contributes to the SDGs

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Promote medium- and long-term asset building through the NISA schemes, etc.
Respond to the diversifying demands of the world’s foremost aging society
Continue efforts on financial and securities education that contribute topromoting securities investment

Carry out initiatives that bolster the fairness andtransparency of the markets
Carry out measures that ensure customer-oriented
business conduct
Deliberate and implement measures to streamline andincrease the efficiency of securities firms’ businesses
Undertake initiatives to adapt to the age of Digital
Transformation

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Promote the development and proliferation of financial
instruments and services contributing to the SDGs
Support alternative workplace environment such as
teleworking, and promote the empowerment of women
Support the economically vulnerable
Implement efforts to contribute to the SDGs throughcollaboration with universities, etc.

JSDA’s Major Work Plans for 2020-2021 (July 2020)
Undertake initiatives to respond to COVID-19 and to secure a brighter future
1.
2.
3.

Facilitate the transition to paperless and digitalized processing of, and document handling
related to, securities transactions
Utilize digital/virtual platforms for conferences/events related to PR, financial and securities
education, training for member firms, and other meetings.
Promote information exchange and international collaboration related to COVID-19

Promote asset building capable of supporting the 100-year life
1.

2.

3.

Promote medium- and long-term asset building•
Endeavor to achieve wider use of the NISA schemes (such as “Tsumitate
NISA”) and make these schemes permanent and more convenient•
Undertake initiatives to further develop the defined contribution (DC)pension plan system•
Promote asset building in the workplace
Investors
Promote the expansion of securities investment(Individuals)•
Conduct PR activities for asset building through stock investment•
Undertake initiatives to promote the provision of services that
respond to diverse needs•
Work toward the integration of financial income taxation (i.e.
aggregation of profits and losses including derivatives)•
Conduct PR activities to increase interest in securities investment
Create an environment that promotes the smooth transfer of risk assets
between generations

Spread and deepen financial and securities knowledge

4. Promote COVID-19 responses under the efforts toward the SDGs
• Promote SDG bonds, including social bonds• Promote changes in working styles in the securities industry based on preventive measuresagainst infection• Support economically vulnerable children in light of the changes to the environment

Further materialize the efforts towards the SDGs
1.
2.
3.
4.

Promote financial and securities education in schools
Promote financial and securities education for working adults

Strengthen financial and capital markets’ functions and competitiveness
1.
2.
3.
4.
5.
6.

Respond to financial innovation
Increase the use of unlisted stockMarketUndertake initiatives for expanding and diversifying the corporate bond(Infrastructure)marketCollaborate with the promotional activities of the Organization of Global
Financial City Tokyo (FinCity.Tokyo)
Undertake initiatives aimed at the smooth introduction of the system forrequesting a paper copy under the electronic provision of shareholders
meeting materials
Undertake initiatives aimed at solidifying the acceptance and expanding theuse of the Social Security and Tax Number System

MarketIntermediaries(Members)

Improve intermediaries’ functions and credibility
1.
2.
3.

4.
5.
6.

1.
2.

Promote the proliferation of financial instruments contributing to the
SDGs (SDG bonds)
Promote the creation of a fulfilling workplace environment and theempowerment of women
Support economically vulnerable children
Bolster partnerships with both Japanese and overseas parties towards
the achievement of the SDGs

Carry out measures to ensure customer-oriented business conduct
Undertake initiatives toward providing financial services that are fit for an aging society
Exercise effective self-regulatory functions•
Make appropriate alterations to self-regulatory rules based on changes to the financial
services environment•
Conduct agile and effective inspections of member firms•
Further endeavor to prevent insider trading
Review self-regulatory rules based on the principle-based approach
Respond to the revisions to regulations regarding cross-sectoral financial services
intermediaries
Facilitate the transition to paperless and digitalized processing of, and document handling
related to securities transactions

Enhance global outreach and cooperation
1.
2.
3.
4.

Conduct PR activities aimed at overseas investors/issuers on theattractiveness and potential of Japanese markets
Enhance international cooperation and collaboration, including support
for emerging markets
Respond to the global regulatory agenda
Further enrich the provision of information in English

Overseas

Improve JSDA’s operations
1.
2.
3.

Make business operations more efficient by utilizing new technologies
Strengthen business continuity planning (BCP) and cybersecurity
measures
Strategically develop qualified human resources and improve staff
members’ work life balance

JSDAJSDA’s Major Work Plans(2020-2021)

July 1, 2020

© Japan Securities Dealers Association. All Rights Reserved.

Undertake initiatives to respond to COVID-19 and to secure a brighter future
1. Facilitate the transition to paperless and digitalized processing of, and document handling
related to, securities transactions
Promote initiatives in the securities industry with regard to going paperless (including eliminating seals on paper
documents), in line with the progress in administrative and other procedures in the government.
With a view to limiting unnecessary contact between customers and the employees of member firms, as well as
realizing swift and efficient administrative procedures, work with related bodies to further the development ofdigitization of documents submitted for taxation purposes, etc.

2. Utilize digital/virtual platforms for conferences/events related to PR, financial and securities
education, training for member firms, and other meetings
In order to increase the understanding of the social significance and objectives of securities investment among those
who are not interested in investment (especially younger people), conduct PR activities mainly through the internet orsocial media outlets.
Regarding the dissemination of financial and securities knowledge, further strengthen activities through the internet.
Introduce online training programs as possible alternatives to conducting training courses physically, and further
enhance training videos and DVDs to support member firms’ internal training programs.
Improve the efficiency of JSDA’s internal operations, as well as its operations for conferences/events, by utilizing newtechnologies such as digital conference platforms.

© Japan Securities Dealers Association. All Rights Reserved.

1Undertake initiatives to respond to COVID-19 and to secure a brighter future
3. Promote information exchange and international collaboration related to COVID-19
With respect to initiatives related to COVID-19, engage and collaborate with related organizations overseas, with aview to contributing to maintain and strengthen the functioning of the global financial and capital markets.
Provide feedback to related parties in Japan regarding relevant information such as measures taken at related
overseas organizations.
Exercise leadership to promote information exchange and cooperation between the members of the Asia Securities
Forum (ASF), including measures in response to COVID-19 and initiatives for the SDGs, with the aim of fostering
financial and capital markets in the Asia-Pacific that can contribute to achieving a sustainable economy and society.

© Japan Securities Dealers Association. All Rights Reserved.

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Undertake initiatives to respond to COVID-19 and to secure a brighter future
4. Promote COVID-19 responses under the efforts toward the SDGs
• Promote SDG bonds, including social bonds
Undertake initiatives to proliferate financial instruments contributing to the SDGs (including social bonds related to
COVID-19), in order to contribute to solving social challenges through the securities business.

• Promote changes in working styles in the securities industry based on preventive measures against infection
Deliberate on and promote working styles in line with preventive measures against COVID-19, which contribute to thebusiness continuity of member firms.
Plan and conduct seminars, lectures, etc. for the executives and employees of member firms (including the Women’s
Network) to bolster the empowerment of women in the industry.

• Support economically vulnerable children in light of the changes to the environment
Undertake various initiatives by the securities industry as a whole that support and nurture underprivileged children
so they have hope for the future, such as continuing to participate in the “Used Book Sale Donations for Children’s
Future.”Through the “Securities Industry Network for Supporting Children,” a platform that connects member firms with NPOs
supporting children in need, deliberate on the ways of support for children in light of the changing environment andstrive for a framework that can provide appropriate support.

© Japan Securities Dealers Association. All Rights Reserved.

3

Promote asset building capable of supporting the 100-year life
Investors(Individuals)

1. Promote medium- and long-term asset building• Endeavor to achieve wider use of the NISA schemes (such as “Tsumitate NISA”) and make these schemes
permanent and more convenient
Conduct PR activities to promote medium- and long-term asset building targeting a wide range of people, including
online advertisements for the Tsumitate (dollar-cost averaging) NISA.
In order to promote people’s asset building, work with related parties to expand the NISA schemes and improve theirusability and to secure their permanence based on a “NISA law” (tentative name).
• Undertake initiatives to further develop the defined contribution (DC) pension system
Work with related parties to improve the system/operations related to the DC pension system, in order to facilitate its
broader use.
• Promote asset building in the workplace
In order to promote asset building in the workplace (including those who are not interested in investments) using
vehicles such as the Tsumitate NISA and the DC pension system, conduct PR activities involving companies andmunicipalities.

4Promote asset building capable of supporting the 100-year life
Investors
投資者(Individuals)（個人）

2. Promote the expansion of securities investment• Conduct PR activities for asset building through stock investment

Deliberate on and implement measures to spread the benefits of holding stocks, such as shareholder incentives ordividend yield. Through the JSDA website or social media outlets, implement publicity activities targeted at a wide
range of people specifically highlighting the appeal of stock investments to promote asset building.
• Undertake initiatives to promote the provision of services that respond to diverse needs- “Committee for Thinking about the Future of the Securities Business rooted in Regional Communities”
Conduct discussions from a broad perspective at the Committee (consisting of member firms with JSDA as secretariat),
including securities firms’ responses to the aging society, and provision of new services that can contribute to regional
communities, with the aim of responding to the needs of investors in regional communities where aging is prevalent.
- Conduct training programs to respond to a diverse range of investors
Conduct training programs to raise the knowledge and skills of employees of securities firms, to enable them to provide
useful information and advice in line with investors’ diverse lifestyles and needs.

5Promote asset building capable of supporting the 100-year life
Investors
投資者(Individuals)（個人）

2. Promote the expansion of securities investment• Work toward the integration of financial income taxation (i.e. aggregation of profits and losses including derivatives)
In order to increase investment options, as well as provide for more flexible risk-hedge investments, work with relatedparties to integrate financial income taxation.
• Conduct PR activities to increase interest in securities investment
In order to increase the understanding of the significance and objectives of securities investment among those whoare not interested in investment (especially younger people), conduct PR activities mainly through the internet or social
media outlets.

3. Create an environment that promotes the smooth transfer of risk assets between generations
To facilitate the transfer of assets between generations, further the research on inheritance tax valuations, and workwith relevant parties.
Following the research into the joint account system in the United States, conduct further studies regarding thechallenges for effective management and use of assets, as well as the smooth inheritance of assets between
generations in the aging society.
Deliberate on the response to the increased flexibility of asset management under the adult guardianship system.
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Spread and deepen financial and securities knowledge
Investors
投資者(Individuals)（個人）

1. Promote financial and securities education in schools
Promote financial and securities education in schools, taking into account the start of classes based on the new
National Curriculum Standards, which feature increased teaching on finance and securities.
Develop and provide information and supplementary materials to educators, while keeping up with the advancing use ofInformation and Communications Technology (ICT) in the classroom.

2. Promote financial and securities education for working adults
Conduct promotional and dissemination activities targeted at inexperienced and novice investors, with an emphasis offurther developing activities conducted online against the backdrop of the COVID-19 pandemic.

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Strengthen financial and capital markets’ functions and competitivenessMarket(Infrastructure)

1. Respond to financial innovation
Conduct discussions and respond as necessary from the perspective of investor protection and the sounddevelopment of the markets, including securities (such as stocks and bonds) utilizing blockchain technology.
Based on trends in financial innovation, collect information in collaboration with related parties, and conduct
further research and studies on the impact on the securities industry.

2. Increase the use of unlisted stock
Review the regulations for solicitation of unlisted stocks from the perspective of facilitating smoother supply of riskmoney into venture companies, while paying due attention to investor protection.

3. Undertake initiatives for expanding and diversifying the corporate bond market
Continue to assess the impacts of reporting and publishing rules for corporate bond transactions on market liquidity,
and review the rules as necessary.
In preparation for the end of the publication of LIBOR, conduct necessary deliberations on the handling of financial
instruments (such as bonds) that currently refer to LIBOR in calculating interest.

Regarding the determination process of corporate bond issuance conditions, conduct discussions for the introductionof a framework (“Transparency”) in which the issuer and lead underwriting securities firm(s) can share information
related to investor demands and sales destinations.
8Strengthen financial and capital markets’ functions and competitivenessMarket(Infrastructure)

4. Collaborate with the promotional activities of the Organization of Global Financial City Tokyo(FinCity.Tokyo)
In order to increase the international presence of the Japanese financial and capital markets, collaborate with theOrganization of Global Financial City Tokyo (FinCity.Tokyo), in which the JSDA has been participating as a voting /board member.

5. Undertake initiatives aimed at the smooth introduction of the system for requesting a paper copy
under the electronic provision of shareholders meeting materials
Under the system for electronic provision of shareholders meeting materials, which is to be newly introduced under the
Revised Companies Act, continue to deliberate on the method for the request for a paper copy of said materials.

6. Undertake initiatives aimed at solidifying the acceptance and expanding the use of the Social
Security and Tax Number System
While paying close attention to the progress of the Social Security and Tax Number (My Number) acquisition scheme
through JASDEC, continue to conduct awareness activities to facilitate the submission of My Number by customers.

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Further materialize the efforts towards the SDGs

MarketIntermediaries(Members)

1. Promote the proliferation of financial instruments contributing to the SDGs (SDG bonds)
Undertake initiatives to further proliferate financial instruments contributing to the SDGs (including social bonds
related to measures against COVID-19), in order to contribute to solving social challenges through the securities
business.

2. Promote the creation of a fulfilling workplace environment and the empowerment of women
Deliberate on and promote working styles in line with preventive measures against COVID-19, which contribute to thebusiness continuity of member firms.

Plan and conduct seminars, lectures, etc. for the executives and employees of member firms (including the Women’s
Network) to bolster the empowerment of women in the industry.

10

Further materialize the efforts towards the SDGs

MarketIntermediaries(Members)

3. Support economically vulnerable children
Undertake various initiatives by the securities industry as a whole that support and nurture underprivileged children
so they have hope for the future, such as continuing to participate in the “Used Book Sale Donations for Children’s
Future.”Through the “Securities Industry Network for Supporting Children,” a platform that connects member firms with NPOs
supporting children in need, deliberate on the ways of support for children in light of the changing environment andstrive for a framework that can provide appropriate support.

4. Bolster partnerships with both Japanese and overseas parties towards the achievement of
the SDGs
To enhance the presence of the Japanese securities industry in relation to contributions to the SDGs and effectively
carry out the various initiatives, actively engage in information gathering and dissemination.
Actively participate and undertake SDG-related initiatives in international conferences.
Manage the “Shareholders Incentives Endowment Fund for the SDGs” that utilizes social contribution-type shareholder
incentives, and collaborate with universities, etc. to foster new partnerships.

11Improve intermediaries’ functions and credibility
1. Carry out measures to ensure customer-oriented business conduct

MarketIntermediaries(Members)

Based on the current state of “Customer-Oriented Business Conduct,” consider/implement necessary responses.

2. Undertake initiatives toward providing financial services that are fit for an aging society
Undertake initiatives as necessary to further promote intermediaries’ initiatives to provide financial services that are fit
for elderly customers.

3. Exercise effective self-regulatory functions• Make appropriate alterations to self-regulatory rules based on changes to the financial services environment
Given the recent increase in the trading volumes of foreign stocks, especially US listed stocks, deliberate on selfregulatory rules toward the introduction of margin transactions of these foreign stocks, in order to provide investors withmore diverse investment opportunities and methods.
In light of the diversification of the Type I Financial Instruments Business, begin the deliberation toward the introductionof general qualification examinations across business categories to obtain basic knowledge under a common standard.
• Conduct agile and effective inspections of member firms
Continue to conduct agile and effective inspections of the member firms, targeting their businesses, status of assets,
and other garnered information in order to check and verify compliance with laws and self-regulatory rules, as well as
the appropriateness of their compliance framework.
• Further endeavor to prevent insider trading
Continue to collaborate with market-related entities to encourage listed companies to participate in the Japan Insider
Registration & Identification Support System (J-IRISS). Also, continue to deliberate on and implement further initiatives
to prevent insider trading.
12Improve intermediaries’ functions and credibility

MarketIntermediaries(Members)

4. Review self-regulatory rules based on the principle-based approach
Review self-regulatory rules based on the general recommendations by the “Council on Reviewing Self-Regulatory
Rules based on the Principle-Based Approach.”

5. Respond to the revisions to regulations regarding cross-sectoral financial services intermediaries
While keeping a close watch on the establishment of the new legal framework concerning cross-sectoral financial
services intermediaries, work with related parties to ensure that investor protection is secured at a level comparable tothat of financial instruments business operators under the current FIEA.
Also, through considering how the said new financial services intermediaries should be positioned in relation to thepurview of the JSDA, coordinate and respond as necessary from the viewpoint of investor protection.

6. Facilitate the transition to paperless and digitalized processing of, and document handling related
to, securities transactions
Promote initiatives in the securities industry with regard to going paperless (including eliminating seals on paper
documents) in line with the progress in administrative and other procedures in the government.
With a view to limiting unnecessary contact between customers and the employees of member firms, as well as
realizing swift and efficient administrative procedures, work with related bodies to further the development ofdigitization of documents submitted for taxation purposes, etc.
13

Enhance global outreach and cooperation
Global
1. Conduct PR activities aimed at overseas investors/issuers on the attractivenessand potential of Japanese markets
Conduct PR activities to update overseas market participants on the current situation and steps being taken in themarkets to further raise the global presence of the Japanese financial and capital markets.

2. Enhance international cooperation and collaboration, including support for emerging markets
Actively engage international fora, such as Asia Securities Forum (ASF), International Council of Securities Associations(ICSA) and International Forum for Investor Education (IFIE), to respond to common challenges and provide domestic
feedbacks as necessary. In particular, exercise leadership to foster interactions between the ASF members, including
measures in response to COVID-19 and initiatives for the SDGs.

Enhance technical assistance to related organizations in emerging markets by tapping into Japanese expertise.
Undertake initiatives regarding cooperation between the Japanese and Chinese securities markets in collaboration withother related entities, including the bilateral cooperation with the Securities Association of China (SAC),

3. Respond to the global regulatory agenda
Actively participate in discussions and investor protection initiatives in the International Organization of Securities
Commissions (IOSCO), etc. Follow the global regulatory agenda pertaining to financial and capital markets and respondas necessary in collaboration with related domestic and international entities.

4. Further enrich the provision of information in English
Further enrich the provision of information in English by the JSDA such as public releases.
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Improve JSDA’s operations
JSDA

1. Make business operations more efficient by utilizing new technologies
Improve the efficiency of JSDA’s internal operations, as well as its operations for conferences/events, by utilizing newtechnologies such as Robotic Process Automation (RPA) and digital conference platforms.

2. Strengthen business continuity planning (BCP) and cybersecurity measures
With respect to the response to the recent outbreak of COVID-19, ensure the effectiveness of BCP through thoroughly
conducting BCP drills, and continue to endeavor to sustain/increase their effectiveness through the use of PDCA (plando-check-act) cycle.
In order to properly cope with cyber attacks, enhance cyber resilience against the recent surge in Targeted Email Attacks.

3. Strategically develop qualified human resources and improve staff members’ work life balance
Develop personnel who can contribute to works related to international affairs and interactions as well as securities
business practice by sending staff to overseas postgraduate schools. Also actively recruit female staff, aiming at
women’s empowerment.
Take steps to strike a balance between work and private life, to enable every employee to realize their potential andcontinue to work with ease.
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