P.M. BRIEFING : Japan Cabinet Ban on Stocks Urged
Japanese Prime Minister Noboru Takeshita today proposed banning stock trading by Cabinet members and requiring regular disclosure of their assets during their tenure, government spokesmen said.
Takeshita submitted the proposals to a private group of advisers and also suggested ministers keep their shares in a blind trust. At present, ministers are allowed to deal in stocks, and must disclose their assets only once at the time of appointment.
The proposals come as the Takeshita government is embroiled in an insider trading scandal involving pre-listed shares in a subsidiary of Recruit Co. More than a dozen politicians and businessmen have been arrested on bribery charges in the case.
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