Conflicts of Interest and Duty

Market necessity for large concentrations of capital and the growing number of legal obligations placed upon those who handle other people's money have made conflict of interest and duty issues increasingly important in recent years. This work identifies conflicts of interest and duty within the financial services industry under Japanese and English law and examines their resolution and management. Little comparative research has so far focused on Japan and the UK, especially in the financial services industry. However, the influence of English common law pragmatism and the prominence of Japan and its financial institutions in the world economy make a detailed comparison of English and Japanese systems particularly important in this area of the law. The book explores, in legal and social terms, the notion of conflicts of interest and the social and cultural differences between the two jurisdictions in dealing with these conflicts. It examines specific issues of conflict and legal duty and legislative regulation, provides practical advice, and suggests ways forward to help minimize exposure to the consequences of conflict. Among those who should find the book useful are regulators and legislators involved in framing and implementing policy, business people concerned with compliance, their legal advisors, and others in the global financial community. The text may also appeal to those interested in comparative research in English and Japanese law.