Hastings International and Comparative Law Review Volume 14 Article 2 Number 2 Winter 1991 1-1-1991 Security Markets in the United States and Japan: Distinctive Aspects Molded by Cultural, Social, Economic, and Political Differences Dan Fenno Henderson Follow this and additional works at: https://repository.uchastings.edu/ hastings_international_comparative_law_review Part of the Comparative and Foreign Law Commons, and the International Law Commons Recommended Citation Dan Fenno Henderson, Security Markets in the United States and Japan: Distinctive Aspects Molded by Cultural, Social, Economic, and Political Differences, 14 Hastings Int'l & Comp. L. Rev. 263 (1991). Available at: https://repository.uchastings.edu/hastings_international_comparative_law_review/vol14/iss2/2 This Article is brought to you for free and open access by the Law Journals at UC Hastings Scholarship Repository. It has been accepted for inclusion in Hastings International and Comparative Law Review by an authorized editor of UC Hastings Scholarship Repository. For more information, please contact
[email protected]. Security Markets in the United States and Japan: Distinctive Aspects Molded by Cultural, Social, Economic, and Political Differences By PROFESSOR DAN FENNO HENDERSON* I. INTRODUCTION Tokyo has now joined London and New York as one of the three major securities markets in the world. With world capital movements challenging even the importance of international trade in goods in the 1990s, uniform laws and business practices become a pressing goal for the international financial community.' Yet, the cultural, social, eco- nomic, and political contexts in which the three leading exchanges oper- ate are indeed quite different and often controversial.' Understanding * Professor and Director, Asian Law Program, University of Washington, Seattle.