What’s New on the FSA Website

Week of June 23 - 27, 2014

This page contains the latest in events, developments, and updates to the FSA website.

Press Conferences

June 25, 2014:	Press Conference by the Minister for Financial Services (June 24, 2014) Japanese version
June 23, 2014:	Press Conference by the Minister for Financial Services (June 20, 2014) Japanese version

Public Comments

(The following public comments are available in Japanese)

June 27, 2014:	Results of public comments regarding the revisions of the Ordinances implementing the 2013 revisions of the "Act on Investment Trusts and Investment Corporations" (Regarding regulations on investment corporations and investment trusts) «Summary» The FSA published the results of public comments regarding the revisions of Ordinances implementing the 2013 revisions of the "Act on Investment Trusts and Investment Corporations," which introduced rights offering for investment corporations, as well as eased the restrictions on equity repurchase by investment corporations. The public comments were reflected in the revisions.
June 26, 2014:	Publication of key matters in examining liquidity risk management at large complex financial groups «Summary» The FSA proposed a draft clarifying key matters in examining liquidity risk management of global systemically important banks (G-SIBs) in Japan selected by the Financial Stability Board and Financial Instruments Business Groups with large-scale and complex business operations
June 26, 2014:	Publication of draft revisions of the Order for Enforcement of the Money Lending Business Act «Summary» The FSA proposed draft revisions to the "Order for Enforcement of the Money Lending Business Act." The revision aims to delegate a part of the authority entrusted to the FSA commissioner by the prime minister to the director generals of Local Finance Bureaus. Specifically, the revision aims to delegate the authority to hear opinions of the director of the National Police Agency in the registration process.
June 25, 2014:	Publication of draft revisions of the "Cabinet Office Ordinance on Disclosure of Corporate Affairs" «Summary» The FSA proposed a draft revision to the "Cabinet Office Ordinance on Disclosure of Corporate Affairs." The revision aims to reduce the financial statements required in the Securities Registration Statement at the time of new stock listing from “the past five fiscal years” to "the past two fiscal years."
June 25, 2014:	Results of public comments regarding the revisions to the Public Notice designating transactions and lending/borrowing to be excluded from the central clearing obligations (regulations on Financial Instruments Obligation Assumption Business) «Summary» The FSA published the results of public comments regarding the revisions to the Public Notice designating transactions and lending/borrowing to be excluded from the transactions subject to the regulations on Financial Instruments Obligation Assumption Business. Financial Instruments Obligation Assumption Business is business that assumes obligations arising from the trading of securities, such as stocks and bonds, pursuant to the "Order for Enforcement of the Financial Instruments and Exchange Act." The revision designates Korean won-denominated interest rate swaps cleared at a Korea Exchange as transactions excluded from the regulation on Financial Instruments Obligation Assumption Business. No changes will be made to the Public Notice as a result of the public comments.

Press Releases

(The Following press releases are available in English)

International

June 27, 2014:	Basel Committee on Banking Supervision published a consultative document “Review of the Pillar 3 disclosure requirements”
June 27, 2014:	Basel Committee on Banking Supervision published a consultative document “Supervisory guidelines for identifying and dealing with weak banks”

Others

June 27, 2014:	Announcement of personnel changes (announced June 27, 2014)

(The Following press releases are available in Japanese)

Banks

June 27, 2014:	Publication of a progress report of Business Revitalization Plans «Summary» The FSA published a report on the progress of business revitalization by banks injected with public funds (Resona Holdings, Inc., Resona Bank Ltd., Shinsei Bank Ltd., and Aozora Bank Ltd.) in the fiscal year that ended in March 2014, pursuant to the "Act on Emergency Measures for Early Strengthening of Financial Functions" and the "Deposit Insurance Act."
June 27, 2014:	Summary of results of the survey on business sentiment of small and medium-size enterprises «Summary» The FSA published a summary of results of the survey on business sentiment of small and medium-size enterprises implemented in May 2014. The Local Finance Bureaus throughout the nation conducted interviews and collected information from local chambers of commerce.
June 27, 2014:	Overview of modification of lending conditions by financial institutions(1),(2),(3) «Summary» The FSA published the overview of modification of lending conditions by financial institutions from the date of enforcement of the "Act on Temporary Measures to Facilitate Financing for Small and Medium-Sized Enterprises" (the SME Financing Facilitation Act), December 4, 2009, to March 31, 2014.
June 26, 2014:	Publication of "FAQ Regarding Foreign Bank Agency Services" «Summary» The FSA published on its web site the frequently asked questions (FAQ) regarding Foreign Bank Agency Services. Foreign Bank Agency Services, which is a system that allows foreign banks to operate certain business through a licensed agent bank in Japan, was introduced in 2008 to provide more efficient financial services to business expanding globally. The FSA organized the inquiries received by the FSA since the introduction of the system and compiled a list of FAQs.

Insurance

June 27, 2014:

Approval of a new business of Japan Post Insurance Co., Ltd. (Kanpo) «Summary» On June 27, 2014, the Financial Services Agency and the Ministry of Internal Affairs and Communications approved the application by Japan Post Insurance Co., Ltd. (Kanpo) to start a new business, pursuant to the "Postal Service Privatization Act." Japan Post Insurance applied for and was approved to distribute cancer insurance as an agent of American Family Life Assurance Company of Columbus, Inc. (AFLAC).

Securities

June 27, 2014:	Administrative penalty charge against a case of market manipulation in relation to TOPIX futures trading «Summary» On June 26, 2014, the FSA issued an order to impose an administrative penalty charge against an individual for manipulating the TOPIX futures market.
June 27, 2014:	Administrative penalty charge against three persons for committing insider trading in connection with a TOB deal of Daiei Inc. (1), (2),(3) «Summary» On June 27, 2014, the FSA issued three orders to impose administrative penalty charges in the case regarding insider trading of stocks of Daiei Inc. using information received from an officer of the tender offeror.
June 27, 2014:	Administrative penalty charge against an officer of a tender offeror in the TOB deal of Daiei Inc. for committing insider trading «Summary» On June 27, 2014, the FSA issued an order to impose an administrative penalty charge in a case regarding insider trading of stocks of Daiei Inc. committed by an officer of the tender offeror (Aeon Co., Ltd.) in a TOB deal of Daiei Inc.
June 27, 2014:	Updated list of entities who are operating financial instruments business without proper registration (Tokai Local Finance Bureau) «Summary» The FSA (Tokai Local Finance Bureau) issued warnings to entities who are operating financial instruments business without proper registration.
June 27, 2014:	Updated list of entities who are operating financial instruments business without proper registration (Kanto Local Finance Bureau) «Summary» The FSA (Kanto Local Finance Bureau) issued warnings to entities who are operating financial instruments business without proper registration.
June 27, 2014:	Revision of "FAQ Regarding Insider Trade Regulation" «Summary» Based on the "Recommendations for Vitalizing Financial and Capital Markets" (published on December 13, 2014) by the Panel for Vitalizing Financial and Capital Markets, the FSA added No. 3 to the existing frequently asked questions (FAQ) regarding insider trade regulation.
June 25, 2014:	Administrative action against Life Style Investment Co., Ltd. (Kanto Local Finance Bureau) «Summary» On June 20, 2014, the director-general of Kanto Local Finance Bureau issued an administrative action against Life Style Investment Co., Ltd. based on a recommendation from the Securities and Exchange Surveillance Commission (SESC). The SESC identified through inspection that the corporation solicited, without proper registration, shares of foreign corporations and accepted money as deposits.
June 25, 2014:	Administrative action against Traffic Corporation (Kanto Local Finance Bureau) «Summary» On June 20, 2014, the director-general of Kanto Local Finance Bureau issued an administrative action against Traffic Corporation based on a recommendation from the Securities and Exchange Surveillance Commission (SESC). The SESC identified through on-site inspection that the corporation appropriated a part of the fund under its management for purposes not indicated in the partnership contract. It was also revealed that the corporation offered, without proper registration, private placement of the equity interests.
June 24, 2014:	Progress status of initiatives by market participants to reduce securities settlement risks «Summary» The FSA updated the progress status of initiatives by market participants to reduce securities settlement risks.
June 23, 2014:	Publication of research on the impact of the introduction of NISA «Summary» The FSA published the results of two research projects regarding NISA: "Research on the use of NISA accounts" and "Opinion Survey of financial planners and securities sales representatives regarding the opinions of the users of NISA." The research indicated that, as of March 31, 2014, there are 6,503,951 NISA accounts in total, and over 1 trillion yen invested through NISA accounts.

Publication

June 26, 2014:	The 132nd issue of “Access FSA” «Summary» The 132nd issue of the FSA’s monthly journal, Access FSA (in Japanese), is now on the website. The journal provides the latest information about the FSA.

Others

June 27, 2014:

Updated list of issuers of gift certificates in repayment procedures based on the "Payment Services Act" «Summary» The FSA updated the list of issuers who are repaying or have completed repaying or announced the termination of use of prepaid payment instruments, as defined in the "Payment Services Act" (e.g. gift vouchers, gift certificates and prepaid cards).

June 25, 2014:

First meeting of the Council for Cooperation on Financial Stability was held by the FSA and BOJ to exchange views on the current financial system and market developments «Summary» On June 25, 2014, the Financial Services Agency (FSA) and the Bank of Japan (BOJ) held the first meeting of the Council for Cooperation on Financing Stability, a meeting to exchange views on the current situation of the financial system and the market. The participants included the commissioner of the FSA and a deputy governor of the BOJ. The council will be held bi-annually to strengthen the cooperation and the exchange of information between the FSA and BOJ.