The Association shall be called the Japanese Association of Financial Econometrics and Engineering. The Association shall be designated by the abbreviation JAFEE. The founding aims of the Association shall be as follows:
Founding Aims
The Japanese Association of Financial Econometrics and Engineering (JAFEE) is a professional and scholarly society for the promotion of research in empirical fields related, in a broad sense, to financial asset pricing and actual financial decision making. It aims to help a large number of researchers and analysts from industry, academia, and government to freely exchange opinions, share information and research ideas, and present their research findings. In particular, JAFEE’s fundamental aim is to provide a platform for researchers and analysts from industry, academia, and government, such as financial engineering, investment technology, quants, financial technology, quantitative portfolio analysis, ALM, asset allocation, credit derivatives analysis, and fundamentals analysis to engage in individual, liberal exchanges from their own perspectives, thus further advancing these academic fields and developing their research to be at par with global standards. JAFEE’s organization has been envisaged around its individual members, who must be interested in the abovementioned fields and concur with JAFEE’s founding goals. The governing body shall be liberal and democratic.
The Association shall engage in the following activities to achieve its founding aims:
(1) The hosting of research conferences (known as JAFEE conferences) and other academic meetings
(2) Publication of members’ research achievements
(3) Other activities appropriate to its objectives
The Association shall consist of individual members and corporate members. Members must agree to the Association’s founding goals to participate in its activities. Individual members will include regular members, students, and honorary members. Corporate membership will be based on membership units. One department of a corporation may purchase one or two membership units.

1) Members are entitled to the following benefits:
(1) Regular Members: One free copy of the Japanese Association of Financial Econometrics and Engineering Journal (Japanese journal). Corporate members: One free copy per membership unit.
(2) Free access to the electronic version of the English-language journal, Asia-Pacific Financial Markets. Corporate members: One free booklet copy per membership unit.
(3) Participation in research conferences and other academic meetings held by the Association in Japan shall be determined as follows:
(a) As a rule, Regular members, student members, and honorary members shall pay a participation fee, which will be announced in advance.
(b) Corporate Members: Three representatives (in the case of one membership unit) or five representatives (in the case of two membership units) may participate in research conferences free of charge. Any additional representatives may participate by paying the same fee as regular members. Furthermore, when participating in other meetings in addition to the abovementioned research conferences, corporate members shall pay a participation fee, which shall be announced in advance.
(4) When participating in international conferences conducted by the Association, regular members, student members, honorary members, and corporate members are expected to pay a participation fee, which will be announced in advance.

2) Members shall consent to the various fees presented in the financial report.
Student members and corporate members shall not have the right to vote or to be elected. Honorary members shall not have the right to be elected.
Upon entering the Association, members must pay an entry fee and the membership fee for the academic year during which they enter.

1) Annual membership fees shall be determined as follows:
(1) Regular members with permanent addresses in the Kanto region of Japan (Tokyo, Chiba, Ibaraki, Gunma, Tochigi, Saitama, Yamanashi, and Kanagawa): ¥10,000.
(2) Regular members with permanent addresses outside of the Kanto region of Japan: ¥6,000.
(3) Student members: ¥2,500.
(4) Corporate members: One membership unit: ¥70,000; two membership units: ¥100,000.
(5) Honorary members: Free.

2) The enrollment fee will be ¥2,000 for regular members, ¥500 for student members, and ¥10,000 per membership unit for corporate members.

3) Members who fail to pay their membership fee for three consecutive years shall be deemed to have left the Association. Suspended membership due to unpaid membership fees may be reinstated by paying all outstanding membership fees. Regular members who are deemed to have made significant contributions to the Association or related academic fields may be selected as honorary members with the approval of the General Assembly. Regulations governing the selection of honorary members shall be provided separately.
The Association shall elect the following officials: one President, one or two Vice-Presidents, 20 Councillors, several Directors, and two Auditors. As a rule, the Association shall elect 10 Councillors from academia and 10 Councillors from industry or government. No more than one Councillor shall be elected from each department of a single corporation.
The President and Councillors shall be elected from among the regular members by vote. The Association shall establish a Board of Councillors, which shall deliberate on the affairs of the Association.
Directors shall be recommended by the President and approved by the General Assembly. However, journal editing directors (Editors) shall be elected by the General Assembly with the approval of the Board of Councillors. The Directors will perform the duties of the Association set forth in Article 2, along with the President and Vice-President(s). The Directors shall share the following duties of the Association: general affairs, accounting, liaison, public relations, journal editing, conference hosting, organizing programs for research conferences, and other duties deemed necessary by the Board of Councillors.
The President shall be chosen by election among members. The President shall represent the Association and serve as the Chair of the Board of Councillors. The President shall serve as a Councillor notwithstanding the provisions of Article 10. The President shall be elected from among (1) candidates recommended by the Board of Councillors, (2) candidates recommended by more than 20 regular members, or (3) other members. Candidates pertaining to (1) or (2) may only be elected with the consent of the concerned member. Candidates pertaining to (1) or (2) shall disclose their personal information, including their professional background and achievements.
The Vice-President(s) shall be recommended by the President from among the regular members by the President and approved by the General Assembly. The Vice-President(s) shall attend the Board of Councillors meetings and assist the President in the execution of his/her duties.
Auditors shall be elected by the Board of Councillors from among Regular members excluding the President, Vice-President(s), or Directors. The Auditors shall audit the account of the Association.
As a rule, the term of office of an Association officer shall be two years. However, the complete term for a President serving consecutive terms of office may not exceed four years. The term of office for the English-language journal editing director (Editor-in-Chief) will be prescribed in the supplementary provisions.
The Board of Councillors shall convene when deemed necessary by the Chair of the Board of Councillors. In addition, the Chair must convene a Board of Councillors meeting if more than half of the Councillors request one.
The President shall convene the General Assembly. Usually, the General Assembly shall be convened once a year. An emergency meeting of the General Assembly may be convened if deemed necessary by the Board of Councillors. The President must convene a meeting in the event that over a quarter of the regular members request one in writing.
Decisions of the General Assembly shall be made by majority vote.
Ordinarily, the following matters must be submitted to the General Assembly for approval:
(1) Project plans and budgets
(2) Project reports and account settlement reports
(3) Matters approved and determined in the Rules and Regulations
(4) Other matters that the Board of Councillors must submit to the General Assembly
The Association may establish various committees corresponding to its duties. Matters concerning the management of respective committees shall be provided separately.
The Association’s fiscal year shall begin on April 1 of each year and end on March 31 of the following year.
Detailed rules concerning the management of the Association shall be provided separately.
Changes to the rules and regulations shall be determined by the General Assembly with the approval of the Board of Councillors. Supplementary Provisions

The term of office for the editing director of the English-language journal (Editor-in Chief) shall be four years.
Last revised: January 25, 2013