CHRONOLOGY

2004

Trust Business Act amendment re-introduces trust company incorporation after the 61 year gap since 1943

1943

Joint Operations Act forces trust companies into banks GHQ enforces for 7 major zaibatsu stragglers in 1948

1921

Trust Act + Trust Business Act to regulate trust business 488 trust companies quickly reduced to 27 by 1922

1900

Despite being a civil code jurisdiction IBJ Act includes trust business first legal use of term 'shintaku' or trust

 

GLOSSARY

Trust Banks

TBs shintaku ginko

investment manager regulatory status in decline as result of Allfinanz Reform

Trust Fund Bureau

the prior MoF TFB okurasho shikin unyobu

the original source of FILP funding now the FILP Fund cf TFB, zaito kikin

shadanhojin

Civil Code public interest entity trust

legal and regulatory framework reformed to prevent tax etc abuse cf zaidanhojin

shikin unyobu

Trust Fund Bureau created in 1885

renamed FILP Fund, zaito kikin, on launch of FILP Reform Phase II in 2001

shintaku

trust

application is made of trusts despite being a Civil Code jurisdiction

TFB (i) 1885 - 1942

Trust Fund Bureau shikin unyobu

originally set up on UK Post Office Model to manage PO Savings in bonds

tokkin

special pecuniary trust

segregation vehicle for portfolio holdings/cross-holdings cf eigyo tokkin

FILP Reform Phase II

2001 - 2008 preparatory action stage

TFB becomes FILPF and trust deposit roll overs disintermediated with FILPBs

kessai

settlement of accounts

translation confusion very occasionally with settei settlement of a trust

kikin

fund

Civil Code jurisdiction under special provisions and not a simple trust structure

miuchi

relatives in the family

when of clients special trust exists cannot cause losses cf sonshitsu hoten

settei

fixing settling

as fudosan shintaku o settei suru to settle a property trust

shisan unyo

asset management

licensed managers are cf Life Assurers, Trust Banks, IACs I, SITMCs

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