Vote by Foreign Rivals Lifts Firms Into Protection Fund

摘要

Ending a three-year dispute with Japanese authorities, foreign brokerage firms in Tokyo voted overwhelmingly to join their local counterparts in an investor-protection insurance fund. Foreign securities companies had rejected a 1998 move by authorities that mandated all brokerage firms operating in the country join an investor-protection fund that pooled members' contributions to ensure that customers would get back their securities and deposits if a firm failed.