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Japan's finance industry fears new fiduciary duty rules

TOKYO -- Financial companies in Japan are nervous about how far regulators will go to ensure that businesses put the interests of their customers first.

The Financial Services Agency plans to revise its administrative policy as soon as the end of September to promote the concept of fiduciary duty -- that a company entrusted with the responsibility of managing a client's assets is obligated to do what is best for the client.

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