Japan's Financial Instruments and Exchange Law (FIEL), which became effective October 2007, is the core statute regulating financial products and financial market participants. This broad legislation covers, among other things, the businesses of soliciting, dealing and managing financial instruments (including equity and fixed income securities and derivatives instruments) and is the centerpiece of the regulation of financial instruments and financial instruments businesses in Japan. This article, the second in a series on compliance with Japanese financial regulations, outlines the principal registrations and licenses covering the major categories of financial instruments businesses permitted under the FIEL.

Other articles in the series:

• Hints for Offshore Compliance Professionals From Japan's SESC 2010 Inspection Program Summary
• What Is the Best License for a Private Equity or Hedge Fund Manager in Japan?
• Real Estate Fund Manager Registrations Under Japan's Financial Instruments and Exchange Law
• Private Equity and Hedge Fund Licenses: Understanding the Investment Side

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