Maiko Shimoda On June 3 2016, the Reform Act of the Banking Act, etc (the Reform Act), which includes amendments to the Banking Act, was enacted. Its aim is to respond to the diversification of the form of business management in financial groups and the rapid rate of innovation in information technology (IT). The details of the new regulation will remain unclear until the amendments to the relevant cabinet orders are announced. However, the Reform Act concerning the amendments to the Banking Act has already revealed the new regulatory framework for the banking group.
        
        
        
            
                
    
        
        
            September 26 2016