What’s New on the FSA Website

Week of August 29 – September 2, 2016

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

Press Conferences

August 29, 2016:	Press Conference by the Minister for Financial Services (August 24, 2016) (Available in Japanese)

Public Comments

(The following public comment is available in Japanese)

August 31, 2016:

Publication of the finalized amendments to the cabinet office ordinance and regulatory notices on financial instruments business «Summary» The FSA finalized the amendments to the cabinet office ordinance and regulatory notices on financial instruments business pursuant to the enforcement of Margin Requirements for Non-Centrally Cleared OTC derivatives. The amendments include measures to exclude the accepted Initial Margin from the deduction items of Equity Capital, and to exclude the deposited Initial Margin from the calculation of Risk Equivalents. The cabinet office ordinance and regulatory notices were enforced on September 1, 2016.

Press Releases

(The following press releases are available in English)

International

August 30, 2016:	Financial Stability Board (FSB) published “OTC Derivatives Market Reforms: Eleventh Progress Report on Implementation” and “Report on FSB Members’ Plans to Address Legal Barriers to Reporting and Accessing OTC Derivatives Transaction Data”

Publication

August 29, 2016:	Publication of the 157th issue of the FSA’s monthly journal, Access FSA

Others

September 2, 2016:	Updated list of issuers of gift certificates in repayment procedures based on the “Payment Services Act”
September 2, 2016:	Stewardship Code : 213 institutional investors have signed up to the Principles for Responsible Institutional Investors
September 1, 2016:	Updated statistics of money lending business

(The following press releases are available in Japanese)

Banks

August 31, 2016:

Publication of a summary of the survey on financial institutions’ preventive measures against unlawful reimbursement of deposits (as of March 31, 2016) «Summary» The FSA published a summary of the survey on financial institutions’ preventive measures against unlawful reimbursement of deposits as of the end of FY 2015. In order to grasp the status of enforcement of the “Act on Protection of Depositors and Postal Saving Holders from Unauthorized Automated Withdrawal, Using Counterfeit Cards, and Stolen Cards,” the FSA collects information annually from financial institutions and publishes the summary.

August 31, 2016:

Publication of the updated “FAQs regarding capital adequacy ratio” «Summary» The FSA published the updated “FAQs regarding capital adequacy ratio.”

Securities

September 2, 2016:	Updated lists of entities that are operating financial instruments businesses without proper registration (Kanto Local Finance Bureau) «Summary» The FSA and the Kanto Local Finance Bureau issued warnings to entities that are operating financial instruments businesses without proper registration. (cf. updated list of foreign-based entities).
August 30, 2016:	The second trial of an administrative penalty case against a person for using fraudulent means regarding stocks of Wedge Holdings CO., LTD. «Summary» On September 6, 2016, the second trial of an administrative penalty case against a person for using fraudulent means regarding stocks of Wedge Holdings CO., LTD. was conducted.
August 30, 2016:	Administrative penalty charge against MAG NET HOLDINGS,INC. for making false statements in its securities reports «Summary» On August 29, 2016, the FSA issued an order to impose an administrative penalty charge against MAG NET HOLDINGS,INC. for making false statements in its securities reports.

Others

September 2, 2016:	Publication of the updated “Expert Column,” a subpage of the “NISA Official Promotion Webpage,” with a new article (vol.3) contributed by an external expert «Summary» The FSA published the updated “Expert Column,” a subpage of the “NISA Official Promotion Webpage,” with a new article (vol.3) contributed by an external expert.
September 1, 2016:	Request for financial measures to deal with disasters caused by the heavy rain that accompanied Typhoon No. 10 (Hokkaido Local Finance Bureau and Morioka Local Finance Office of the Tohoku Local Finance Bureau) (August 31, 2016) (1) (2) «Summary» The Hokkaido Local Finance Bureau with the Bank of Japan’s Kushiro branch and Sapporo branch, and the Morioka Local Finance Office of the Tohoku Local Finance Bureau with the Bank of Japan’s Sendai branch, issued joint statements of “Financial Measures to deal with disasters caused by Typhoon No.10” to the relevant financial institutions. The statement requests financial institutions in Hokkaido Prefecture and Iwate Prefecture to appropriately deal with victims of the disaster considering their circumstances, such as by making the repayment of deposits flexible.
August 31, 2016:	Publication of the FY 2015 Performance Evaluation Report «Summary» The FSA published the following evaluations pursuant to the “Government Policy Evaluations Act.” FY 2015 Performance Evaluation Report FY 2016 Project Evaluation Report Ex-ante Supplementary Evaluation of a Part of the FY2016 Project An evaluation of policies regarding the special tax measures was also published.
August 31, 2016:	Publication of the FSA’s FY 2017 request for tax revisions «Summary» The FSA published the FY 2017 request for tax revisions.
August 31, 2016:	Publication of the expenditure budget request for FY 2017 «Summary» The FSA published the expenditure budget request for FY 2017.
August 31, 2016:	Publication of the request for budget, organization and staff for FY 2017 «Summary» The FSA published an overview of the request for budget, organization and staff for FY 2017.
August 30, 2016:	2016 campaign for multiple-debt problem consultation «Summary» From September 1 through December 31, 2016, the FSA, Local Finance Bureaus, local governments, and related organizations cooperate to hold an annual campaign based on the “Program to Remedy the Multiple Debt Problem” decided in 2007 by the headquarters for the multiple debt problems in the Cabinet Office. During the campaign, free of charge consultation services are provided nationwide and publicity activities are held to encourage the potential multiple debtors to come to the consultation counters.
August 22&25, 2016:	Establishment of the “Advisory Group on Supervisory Approaches” and publication of the agenda and the meeting documents «Summary» The FSA established the “Advisory Group on Supervisory Approaches” and held its first meeting on August 24, 2016. The FSA has been reviewing and sophisticating its supervisory approaches, for example, seeking the optimal combination of regulation and principle-based supervision, and encouraging financial institutions to provide loans based on proper evaluation of their customers’ business potentials without overly relying on collateral and personal guarantees. The FSA established this advisory group to discuss the concept and potential methods of the supervisory approaches and how to implement them effectively. The FSA will publish outcomes of the advisory group discussions and share them with financial institutions and the international community.