FSA Weekly Review No.105 July 16, 2014

What’s New on the FSA Website

Week of July 7 - July 11, 2014

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

Press Conferences

July 9, 2014: Press Conference by the Minister for Financial Services (July 8, 2014) Japanese versionopen new window
July 8, 2014: Press Conference by the Minister for Financial Services (July 4, 2014) Japanese versionopen new window

Public Comments

(The following public comments are available in Japanese)

July 4, 2014: Publication of draft amendments to the Order and Cabinet Office Ordinance implementing the 2014 revisions of the Financial Instruments and Exchange Actopen new window
«Summary»
The FSA proposed draft amendments to the "Order for Enforcement of the Financial Instruments and Exchange Act" and the "Cabinet Office Ordinance on Financial Instruments Business." The draft amendments ease the rules restricting the beginning and ending dates of a “fiscal year” of business reports required to be compiled by Financial Instruments Business Operators. The draft amendments are planned to be enforced before November 30, 2014.
July 4, 2014: Results of public comments on amendments to the "Ordinance for Enforcement of the Banking Act" for requiring banks to report their capital changesopen new window
«Summary»
The FSA published the results of public comments on the amendments to the "Ordinance for Enforcement of the Banking Act" and other related Orders. The amendments require banks to report changes in their capital conditions. The draft amendments were revised reflecting the comments received from the public.
July 4, 2014: Publication of draft amendments to the guidelines for supervision of Financial Instruments Business Operatorsopen new window
«Summary»
The FSA proposed a draft amendment to the guidelines for supervision of Financial Instruments Business Operators. The amendment follows the revision of the "Act on Investment Trusts and Investment Corporations" and recommendation by the Panel for Vitalizing Financial and Capital Markets.
The amendment (i) adds supervision points regarding the contents of investment reports and (ii) enhances explanation to customers regarding fees for investment trust transactions.

Press Releases

(The Following press releases are available in English)

International

July 10, 2014: PDFInternational Association of Insurance Supervisors (IAIS) published its second public consultation document "Basic Capital Requirements for Global Systemically Important Insurers"open new window
July 9, 2014: PDFInternational Organization of Securities Commissions (IOSCO) published a report "Risk Identification and Assessment Methodologies for Securities Regulators"open new window
July 8, 2014: Basel Committee on Banking Supervision published a report "Principles for Effective Supervisory Colleges"open new window

Others

July 11, 2014: Announcement of personnel changes (announced July 11, 2014)

(The Following press releases are available in Japanese)

Securities

July 10, 2014: Date set for the first hearing of an administrative penalty case concerning Nippon Sheet Glass Co., Ltd.open new window
«Summary»
The FSA published the date of the first hearing of an administrative penalty case concerning Nippon Sheet Glass Co., Ltd., in which the defendant is accused of committing insider trading by using information received from contract counterparts.

Others

July 11, 2014: Updated list of issuers of gift certificates in repayment procedures based on the "Payment Services Act"open new window
«Summary»
The FSA updated the list of issuers who are repaying or have completed repaying or announced the termination of use of the prepaid payment instruments, as defined in the "Payment Services Act" (e.g. gift vouchers, gift certificates, and prepaid cards).
July 10, 2014: Financial measures to deal with disasters caused by the heavy rain that accompanied Typhoon No.8 (Nagano Local Finance Office, Kanto Local Finance Bureau)open new window
«Summary»
The Nagano Local Finance Office issued the statement “Financial Measures to deal with disasters caused by the heavy rain that accompanied Typhoon No. 8” to relevant financial institutions. The statement requests financial institutions in Nagano Prefecture to appropriately deal with victims of the disaster considering their circumstances, such as by making flexible repayment of deposits.
July 8, 2014: Administrative action against an audit firmopen new window
«Summary»
The FSA issued an administrative order to Seiwa Audit Corporation, requiring the firm to improve its operation and suspending the firm from accepting new engagements for one year from July 10, 2014, to July 9, 2015, pursuant to the "Article 34-21(2)(iii) of the Certified Public Accountants Act." The FSA had investigated the firm following a recommendation from the Certified Public Accountants and Auditing Oversight Board, and confirmed that the firm’s operations were significantly inappropriate.
July 8, 2014: FSA to hold a "Kids' Day" on August 6 and 7, 2014open new window
«Summary»
The FSA will hold a "Kids' Day" on August 6 and 7, 2014. This special event is held by the Central Government Ministries and Agencies every summer for children to visit government offices.
July 7, 2014: Publication of the minutes and handouts of the 23rd Expert Panel on Policy Assessmentopen new window
«Summary»
The FSA published the minutes and handouts of the 23rd Expert Panel on Policy Assessment held on May 30, 2014.
July 4, 2014: Results of survey on financial institutions' accessibility service offered to their customers with disabilities (preliminary figures)open new window
«Summary»
The FSA published the results of a survey on financial institutions' accessibility services offered to their customers with disabilities (as of March 31, 2014).
July 4, 2014: Publication of the first Financial Monitoring Reportopen new window
«Summary»
The FSA published the first annual Financial Monitoring Report. The Report outlines the developments in the monitoring of financial institutions in the past year conducted pursuant to the Financial Monitoring Policy, which was introduced in September 2013. The period reflected in the report extends from July 2013 through June 2014.

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