Vanguard Investments Japan of Tokyo, the Japanese subsidiary of The Vanguard Group of Malvern, Pa., has received a broker-dealer license from the Kanto Local Finance Bureau. The company has also obtained membership in the Japan Securities Dealers Association, Vanguard Investments Japan has announced.

Vanguard applied early last year for the license, the issuing of which follows a process very similar to that in the U.S., according to Brian Mattes, a spokesperson for Vanguard.

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