Japan is hoping to strengthen its financial services industry by fundamentally changing industry regulations that have stymied growth, reports The Wall Street Journal.

A proposal for a large-scale deregulation of financial institutions, stock exchanges and funds by the Financial Services Agency suggests the country wants to lose its reputation as an expensive, bureaucratic place for financial services.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.