Japan and Korea Programme Seminar Series
Department of Law
The University of Hong Kong
Seminar
Legal Issues in Financial Transactions for the Realization of a Sustainable Society: from the View of “OECD Due Diligence Guidance for Responsible Business Conduct”
Masafumi ONO
Chief Legal Affairs Specialist, Japanese Bankers Association
Tuesday, 30 April 2019
12:30 – 1:30 pm
Room 723, 7/F Cheng Yu Tung Tower, The University of Hong Kong
Commentator: Professor Hisaei Ito, Chuo University Law School
Chair: Professor Say Goo, Director, Japan and Korea Programme, HKU
Since the United Nations set “Sustainable Development Goals” in 2015, not only governments but also business societies have a keen interest in achieving these goals. Some global companies are implementing concrete actions to realize a sustainable society, and today, efforts to realize a sustainable society must be one of the most important business issues. Although financial industry has the same awareness about the issue, the involvement is different from other industries. That is, it is “indirect” and “oversight”. For example, banks are required to conduct financial business in terms of whether the clients and borrowers that receive financial services by the banks are performing effective business activities to realize a sustainable society, or are not contributing to the adverse impacts against the society. The issues seems to have often been discussed from the perspective of lender responsibility. However, in order for financial institutions to treat these issues constructively, it seems that we should be required to take a legal approach to analyze these issues from different perspectives. So, in order to consider the issues, the speaker would take “OECD Due Diligence Guidance for Responsible Business Conduct” published by the OECD in 2017 to analyze the legal issues for realizing a sustainable society in financial transactions.
Masafumi ONO is a chief legal affairs specialist at the Japanese Bankers Association (JBA). JBA is a premier financial organization whose members consist of banks, bank holding companies and bankers associations in Japan. Since 2013, he works in the Legal & Compliance Department of the JBA, and is responsible for promoting compliance in the banking industry and dealing with legal issues within the JBA, including negotiating with the Japanese Government. Currently, his duties include international taxation and RBC issues. Since 2003, he has also been an adjunct in banking law, financial law or payment law for some law schools and undergraduate schools including Chuo University Law School, Meiji University Law School, Kanagawa University Law School. He has a degree of LL.M. in International Legal Studies from Washington College of Law, American University (2001), and a Master Degree of Law from Chuo University (1995).
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