Financial Instruments and Exchange Act

The , promulgated on June 14, 2006, is the main statute codifying securities law and regulating securities companies in Japan.
The law provides for:
J-SOX provisions.
The internal control portions of the FIEA were largely enacted in response to corporate scandals such as the Kanebo, Livedoor, and Murakami Fund episodes.
The Internal Control Committee of the Business Accounting Council of the Japanese Financial Services Agency provided final Implementation Guidance for Management Assessment and Audit of Internal Controls over Financial Reporting (ICFR) in February 2007. The Implementation Guidance provides details to Japanese companies on how to implement a Management Assessment of Internal Control over Financial Reporting as required under the Financial Instruments and Exchange Law.
The Financial Instruments and Exchange Act became effective in April 2008 for roughly 3,800 companies listed in Japan, along with their foreign subsidiaries.
Forrester Research lists the following challenges and differences between J-SOX and SOX:
References.
Financial Services Agency, The Japanese Government