Industry players in a number of finance industry sub-sectors will be given the opportunity to voluntarily establish a dispute resolution body for their industry sub-sector. Once the Financial Service Agency of Japan (FSA) approves the operational rules, it will then designate such body to act as the dispute resolution body for that sub-sector, with the FSA responsible for supervision to ensure that a neutral position and fair procedures are maintained.

Financial institutions in the sub-sectors for which a dispute resolution body is not created are required to take equivalent measures of their own to respond to disputes and handle customers' complaints.

The dispute resolution body will handle customers' complaints and request financial institutions within the sub-sector to expedite their responses. The dispute resolution body will also form a resolution panel for each dispute case. Each panel will be made up of members who are attorneys, consumer advocates and finance industry experts.

Financial institutions will execute a basic agreement for protocol implementation with the dispute resolution body for their relevant sub-sector. Under the agreement, they are required to participate in the prescribed ADR process when cases are raised by customers.

Participating financial institutions have to provide any documents requested by the panel regarding specific cases that are raised with the panel.

Financial institutions are also required to respect the draft settlement proposed by the panel, so the ruling by the panel is binding on participants, except in cases where judicial procedure is commenced.