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Is Deregulation Coming?

President Trump is looking to follow through on the promises he made during the election. What will happen to the Dodd-Frank Wall Street Reform and the Consumer Protection Act? He signed an Executive Order on February 3, 2017 calling Dodd-Frank a “disaster.” The Executive Order does not have any immediate impact, but the Treasury Secretary will consult with the Financial Stability.

Oversight Council and will be reporting back to the President with potential changes within 120 days. Keeping track of what is taking place on the regulatory front will be very important for all of us. In the current regulatory and political environment in Washington, it will be important for members of FIA Japan to tap into good sources of information. Our alliance with FIA will assist us greatly.


We see in the news that CFTC Chairman Massad has resigned from his post. We were fortunate to have Chairman Massad address the Japanese financial community twice through events sponsored by FIA Japan. We look forward to working with the US Embassy to providing similar venues for the next CFTC Chairman.


In this issue of the FIA Japan Newsletter, we have invited Deputy Director-General Nakajima to discuss regulatory reform in Japan with a special highlight on new laws being worked to mitigate risks around “high-speed trading.“ FIA Japan strives to be a vehicle that all in the industry can use to promote a strong and healthy market. We appreciate the Japanese FSA‘s acceptance of the invitation to be interviewed by FIA Japan to discuss new regulations and reforms. The insight we gain through this article will be beneficial to the industry. FIA Japan will continue to reach out to the various regulators involved in the derivative markets of Japan and Asia.


We introduce four new members of FIA Japan in this issue. It is good that many firms are looking to join FIA Japan. It means that we are addressing the needs of the industry. We will keep listening and acting on issues we feel will benefit the industry.

As I write this message “Haruichiban” or the first wind of Spring is blowing. I hope that the new season will bring new challenges and opportunities to all in our industry.


Michael Ross


President - CEO


FIA Japan

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