Mr Kato also called on the government to "step up the pace of structural reforms, " and to complete a regulatory framework for commercial banks.
The conflict-of-interest-ridden mutual fund regulatory scheme needs a complete overhaul.
Lloyds has already initiated the sale process, with a view - according to bankers - to announcing the buyer in the autumn, although for regulatory reasons the sale won't complete till 2013.
The sale will need to pass final regulatory conditions, and is expected to be complete by the end of the financial year.
"At the moment, there is just a complete gap - there is no European regulatory regime for reusable space vehicles, and we need one, " he told BBC News.
Finally, after years in regulatory purgatory, Sirius Satellite Radio was finally able to complete its acquisition of XM Satellite Radio.
Hayes said it was important that people began debating the issues now so the correct "rules, regulations and regulatory oversights" could be established before the technology was complete and accessible.
All living things, he theorized, have a regulatory effect on the Earth's environment, working together as one complete "superorganism" to sustain life.
The combination is subject to customary regulatory and other approvals, including merger control clearances, and is expected to complete in the second half of 2013.
ENGADGET: Penguin and Random House merge, promise a brave new e-book future
This does not affect our ability to conduct our operations, to complete the recovery and recommencement of our Thailand operations or, subject to obtaining the required regulatory approvals, to consummate our planned acquisition of Hitachi GST.
FORBES: Western Digital Loses $525 Mln Arbitation With Seagate
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