The arrest of top fund manager Yoshiaki Murakami has prompted the Japan Parliament to consider tighter reporting requirements for financial professionals, reports The Wall Street Journal. Murakami, who was arrested Monday after confessing to insider trading, is well known as an activist shareholder and corporate raider, and the new regulations are designed to keep closer tabs on the activity of folks and funds like him. Under the proposed bill, which comes before Parliament for a vote later this month, professional investors, banks and brokerage houses will have just two weeks – down from three months – to report to authorities when they hold more than a 5% stake in a listed company. The bill puts these financial professionals in the same category as mutual funds and hedge funds, which must report within two weeks.