Jiro Masuda

Managing Partner, Tokyo

International financial regulation, securities markets, emerging financial products, cross‑border transactions, and AI governance.

Overview

Jiro Masuda is (1) Ex-Vice Chair of an IOSCO Committee, leading the development of international standards in global financial regulation; (2) a financial markets expert with 24 years of market‑side experience at Goldman Sachs; and (3) a Japanese attorney specializing in AI governance, digital finance, and emerging financial products.

He has co‑led the creation of international standards on securities markets, digital finance, online market behavior, and AI use in financial services in collaboration with regulators worldwide. At Japan’s Financial Services Agency (FSA), he oversaw the domestic implementation of international policy and cross‑border supervisory cooperation. His combined experience across market practice and regulation provides a unique foundation for advising on complex financial products, emerging technologies, and regulatory design.

Areas of Expertise

  • International financial regulation & securities markets
  • AI governance & digital finance
  • Investor protection, product design, online financial services
  • Cross‑border supervision & enforcement cooperation
  • Derivatives, tokenized products, emerging instruments
  • Regulatory support for financial institutions, FinTech, and WebX companies

Professional Experience

International Organization of Securities Commissions (IOSCO) (2023–2026)

  • Vice Chair, Committee 3 (Market Intermediaries) — two consecutive terms
  • Japan Representative, Committee 2 (Secondary Markets)
  • Led international standard‑setting on market conduct, digital finance, and online market behavior
  • Conducted analysis on equity market operations, liquidity, and volatility
  • Advanced cooperation with regulators, exchanges, and international organizations worldwide

Financial Services Agency (FSA), Japan (2023–2026)

  • International Affairs & Securities Markets
  • Domestic implementation of international regulations on market conduct and crypto‑assets
  • Negotiation of international agreements and cross‑border supervisory cooperation
  • Regulatory design for market intermediaries, investor protection, product governance, online financial services, and digital finance
  • Led IMF FSAP coordination and major international conferences
  • Worked on EU benchmark regulation and settlement cycle shortening

Goldman Sachs (1991–2015)

  • Convertible bond arbitrage
  • Developed the trinomial option model for Japanese CB valuation
  • Supported cross‑border capital raising in investment banking
  • Developed derivative‑based products
  • Designed and expanded the online investment product eWarrant

Nakata & Partners (2020–2023)

  • Corporate law and litigation
  • Advisory on mis‑selling and complex financial product disputes
  • Built foundational expertise in financial law

International Network

  • IOSCO
  • Financial Services Agency (FSA), Japan
  • JSDA / JBA / IBA
  • GFMA / ASIFMA / FMSB / ISDA
  • International financial institutions and regulators
  • Global financial institutions and FinTech companies
  • Global market‑structure and AI governance communities
  • WebX
  • University of Tokyo CARF

Education

  • University of Tokyo, Faculty of Economics
  • Juris Doctor, Keio University Law School

IOSCO Reports (Drafting Contributions)