At the same time, there exists an undiminished expectation that the securities industry, as a major player in the financial markets, will continue in its efforts to further invigorate the markets. One of the means to achieve this objective would be the improvement in transparency and smooth functioning of the market by enhancing clarity in presenting risk-return relationships to customers of the securities firms.
I believe that increased competition between securities companies and other financial institutions in providing varied and dependable credit intermediation services strengthens the financial system as a whole and thereby helps improve the structure of the economy. It is evident that securities companies themselves must improve their managerial capabilities if they are successfully to perform such an important role.