· A New Era for Securities Exchanges Yasuyuki Fuchita · A Reexamination of Japan's Securities Exchange Regulations Sadakazu Osaki · The Establishment of a Fund System to Protect Investors Hiromi Hayashi · Toward the Introduction of the FIX Protocol in Japan Yasuyuki Fuchita · The Global Corporate Governance and Japan Motomi Hashimoto · Trends in Individual Savings in the Age of the Big Bang Hiromi Hayashi · The Life Insurance Industry at a Turning Point Takeshi Inoue