Evolution on the Regulation Scope of Japanese Securities Law and the Highlight to Our Legislation

The conception of the securities is the start point to the study of the problem in securities law field.The trend in many countries' securities legislation is the expansion of the securities,the connotation of which are becoming more richer.Japanese Securities Exchange Law with sixty years history was renamed the Financial Instruments and Exchange Act,whose regulated objects also were expanded.The Financial Instruments and Exchange Act still uses the securities concept,and integrates the derivatives such as future in the financial future exchange law into in it.By cabinet order, it adds the class of securities.The evolution on the regulated objects will give some hints and references in our securities legislation.