Japanese

November 7, 2017
Financial Services Agency

Update on Progress toward Further Efficiency and Transparency in the Screening Procedures for Licensing and Registration of Financial Businesses
 

 In the 2016-2017 Strategic Directions and Priorities published in October 2016, the FSA indicated its policy direction to “execute proper progress management for registration/licensing procedure by list method for greater efficiency and transparency of financial regulation.”
 
The FSA updated the progress on the policy direction detailed below.
(Reference) The specifics of the initial progress was published in “Toward Further Efficiency and Transparency in the Screening Procedure for Licensing and Registration of Financial Businesses (published Feb. 10, 2017)”
 
The FSA published
-  “Grounds for Refusing Registration, and Relevant Statutes and Regulations Pertaining to Viewpoints in Registration-Screening as Virtual Currency Exchange Service Provider ( Appendix 1(PDF:50KB))” and “Details of Screening for New Registration Application as Virtual Currency Exchange Service Provider ( Appendix 2(PDF:94KB))” , helping providers prepare for registration application smoothly.
    Note: Registration system toward virtual currency exchange service providers was introduced on Apr. 1, 2017.
-  “Particular Cases from the Past Applications for New License by Foreign Operators ( Appendix 3(PDF:57KB))”, showing the points to be checked, the series of processes, the reason for achieving efficient screening in the actual screening cases, for foreign operators to understand the screening procedures more clearly.
 
 
(Reference) “An English Guidebook for Foreign Asset Managers to Establish a Business Base in Japan”
The Tokyo Metropolitan Government, with the cooperation of the FSA, compiled an English guidebook (published Sep. 12, 2017), which clarifies the necessary procedures for foreign asset managers to establish a business base in Japan.