Nomura Securities President Toshio Morita becomes Chairman of JSDA
Nomura Securities Co., Ltd., a wholly owned subsidiary of Nomura Holdings, Inc., today announced that Toshio Morita, Representative Director, President of Nomura Securities Co., Ltd., was confirmed as Chairman and CEO of the Japan Securities Dealers Association (JSDA) at a meeting of the General Assembly held today by the JSDA.
Mr Morita’s appointment will take effect on July 1, 2021.
He will step down as Representative Executive Officer, Nomura Holdings, Inc. and Representative Director, President of Nomura Securities Co. Ltd., at the conclusion of the Ordinary General Meeting of Shareholders of Nomura Holdings and Nomura Securities in June 2021.
The Japan Securities Dealers Association (JSDA) is an association functioning as a self-regulatory organization (SRO) and as an interlocutor for the securities industry. Its legal status is as a Financial Instruments Firms Association authorized by the Prime Minister, pursuant to Article 67-2, Paragraph 2, of the Financial Instruments and Exchange Act (FIEA).
At present, JSDA comprises about 500 members consisting of securities firms, banks, and other financial institutions operating securities businesses in Japan.
As a fully empowered SRO, the JSDA extensively regulates market intermediaries. Its self-regulatory functions encompass rulemaking, enforcement, inspection, disciplinary action, accreditation of sales representatives, and dispute mediation. The JSDA also provides vehicles for policy dialogue among the industry, the government, and other related parties; conducts and promotes investor education; and implements studies to further activate the market.