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JASDEC was Approved by Competent Ministers as to Deposit and Book-Entry Transfer Operation for Listed Foreign Stocks and the Like as Interlocking Business. |
March 15, 2006
JASDEC was approved by the Minister of Financial Service Agency
and the Minister For Justice as to deposit and Book-Entry transfer
operation for exchange listed foreign stocks and the like (hereinafter
refer as "Foreign Stocks Book-Entry Transfer Operation") as interlocking business.
At present the Foreign Stocks Book-Entry Transfer Operations are handled
by the Japan Securities Settlement and Custody (JSSC) but JASDEC
will start the operation with transferring from JSSC out standings
in foreign custodians from late in April, 2006.
JASDEC is on the way to revise practical
procedures, manuals and system operations according with the newly established
business rules and enforcement rules. The above mentioned details will
be disclosed on this site.
Note: The listed foreign securities are not designated as Stock
Certificated, etc. ruled by the Article 2 of the Law Concerning
Central Securities Depository and Book-Entry Transfer of Stock
Certificates and
Other Securities (hereinafter referred as "the CSD Law"), therefore
JASDEC received permissions from the competent Ministers as not "Book-Entry
Transfer Business" ruled by Article 3 of the CSD Law, but as "Interlocking
business" ruled by Proviso of Paragraph 1, Article 4-2.
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