FSA Weekly Review No.225 January 6, 2017

 

What’s New on the FSA Website

Week of December 19 – December 28, 2016

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

Press Conferences

December 21, 2016: Press Conference by the Minister for Financial Services (December 13, 2016) (Available in Japaneseopen new window)

Public Comments

(The following public comments are available in Japanese)

December 28, 2016: Publication of the draft amendments to the “Order for Enforcement of the Banking Act”open new window
«Summary»
The FSA proposed the draft amendments to the “Order for Enforcement of the Banking Act,” pertaining to the enforcement of the “Act for Partial Revision of the Banking Act (Act No. 62 of 2016),” which aims to respond to the environmental changes involving IT development.
December 28, 2016: Publication of the draft amendments to the Cabinet Office Ordinances and the supervisory guidelines regarding notifications of names of officers of financial institutionsopen new window
«Summary»
The FSA proposed the draft amendments to the Cabinet Office Ordinances and supervisory guidelines regarding notifications of names of officers of financial institutions. The proposal is to allow financial institutions to notify the FSA of their officers’ birth names (without using married names) in certain documents provided that the financial institutions have already notified both the names.
December 27, 2016: Publication of the finalized amendments to the cabinet office ordinance to amend the “Ordinance on Terminology, Forms and Preparation Methods of Consolidated Financial Statements”open new window
«Summary»
The FSA finalized the amendments to the cabinet office ordinance to amend the “Ordinance on Terminology, Forms and Preparation Methods of Consolidated Financial Statements,” following the ASBJ’s Practical Solution on Accounting for Risk Sharing Pension Plan. The amendments reflect the revised accounting standard published by the ASBJ, which set out matters to be noted in financial statements when an entity adopts “risk sharing pension plan.”
December 21, 2016: Publication of draft amendments to the “Cabinet Office Ordinance on Financial Instruments Business”open new window
«Summary»
The FSA proposed draft amendments to the “Cabinet Office Ordinance on Financial Instruments Business.” The proposal is to allow aggregation of margins deposited for FX and non-FX transactions.

Press Releases

(The following press releases are available in English)

International

December 27, 2016: PDFInternational Organization of Securities Commissions (IOSCO) published “Update to the Report on the IOSCO Automated Advice Tools Survey”open new window
December 27, 2016: PDFInternational Organization of Securities Commissions (IOSCO) published a consultative document “Report on Order Routing Incentives”open new window
December 27, 2016: PDFInternational Organization of Securities Commissions (IOSCO) published “Report on the IOSCO Survey on Retail OTC Leveraged Products”open new window
December 22, 2016: PDFFinancial Stability Board (FSB) published a report “Peer Review of Japan”open new window
December 19, 2016: IOSCO APRC comments on the proposed CFTC cross-border swap rule
December 19, 2016: Comments on the proposed CFTC cross-border swap rule
December 19, 2016: PDFFinancial Stability Board (FSB) published two consultative documents: “Guiding Principles on the Internal Total Loss-Absorbing Capacity of G-SIBs (‘Internal TLAC’)” and “Guidance on Continuity of Access to Financial Market Infrastructures (FMIs) for a Firm in Resolution”open new window
December 19, 2016: PDFInternational Association of Insurance Supervisors (IAIS) published “2016 G-SII Identification Process Public Report”open new window

Councils

December 19, 2016: The 5th meeting of the Working Group on the Financial System of the Financial System Council (December 21st, 2016)

Publication

December 26, 2016: Publication of the 161th issue of the FSA’s monthly journal, Access FSA

Others

December 27, 2016: Stewardship Code : 214 institutional investors have signed up to the Principles for Responsible Institutional Investors
December 26, 2016: Updated statistics of money lending business
December 21, 2016: Updated list of issuers of gift certificates in repayment procedures based on the “Payment Services Act”

(The following press releases are available in Japanese)

Councils

December 20, 2016: Publication of the agenda and handouts of the twelfth meeting of the “Working Group on Financial Markets” of the Financial System Councilopen new window
«Summary»
The FSA published the agenda and handouts of the twelfth meeting of the “Working Group on Financial Markets” of the Financial System Council, which was held on December 20, 2016.

Banks

December 27, 2016: Overview of modifications to lending conditions by financial institutionsopen new window
«Summary»
The FSA published an overview of modifications to lending conditions made by financial institutions since the date of enforcement of the “SME Financing Facilitation Act” (December 4, 2009) to September 30, 2016. The FSA publishes the overview semiannually.
December 27, 2016: Approval granted to The Nanto Bank, Ltd. for its engagement in trust businessopen new window
«Summary»
The FSA granted approval to The Nanto Bank, Ltd. for its engagement in trust business pursuant to the “Act on Engagement in Trust Business by a Financial Institution.”
December 22, 2016: Publication of a progress report on Business Revitalization Plansopen new window
«Summary»
The FSA published a report on the progress of business revitalization by Shinsei Bank Ltd. as of September 2016, pursuant to the “Act on Emergency Measures for Early Strengthening of Financial Functions” and the “Deposit Insurance Act.”
December 20, 2016: Requests for the utilization of the “Corporation for Revitalizing Earthquake affected Business”open new window
«Summary»
On December 20, 2016, the FSA requested that bank associations of deposit taking financial institutions and The Norinchukin Bank utilize the “Corporation for Revitalizing Earthquake affected Business.”

Securities

December 28, 2016: Administrative penalty charge against an employee of a contractor of Nippon Manufacturing Service Corporation for committing insider trading regarding stocks of the aforementioned entityopen new window
«Summary»
On December 28, 2016, the FSA issued an order to impose an administrative penalty charge against an individual for committing insider trading of stocks of Nippon Manufacturing Service Corporation, by using information obtained as an employee of a contractor of the aforementioned entity.

Others

December 19,20 and
27, 2016:
Request for financial measures to deal with the outbreak of highly pathogenic avian flu (HPAI) in Hokkaido Prefecture, Miyazaki Prefecture, Kumamoto Prefecture, and Fukuoka Prefecture (Hokkaido Local Finance Bureau (1)open new window, Kyushu Local Finance Bureau: (2)open new window & (3)open new window, and Fukuoka Local Finance Bureau (4)open new window)
«Summary»
Hokkaido Local Finance Bureau, Kyushu Local Finance Bureau, and Fukuoka Local Finance Bureau respectively issued the statement “Financial Measures in Response to the Report of the Subspecies of Highly Pathogenic Avian Influenza (HPAI)” to relevant financial institutions in Hokkaido Prefecture, Miyazaki Prefecture, Kumamoto Prefecture, and Fukuoka Prefecture. The statements request financial institutions to cooperate with prefectural authorities and appropriately deal with HPAI-affected parties (poultry farms, processors, and trade) considering their circumstances, such as by attentively responding to the needs of business management consultation and new loans or change of loan terms.
December 26, 2016: Publication of the “FAQs regarding definitions in Article 2 of the Financial Instruments and Exchange Act”open new window
«Summary»
The FSA published the “FAQs regarding definitions in Article 2 of the Financial Instruments and Exchange Act (FIEA)” which clarify that certain derivatives transactions whose payments are triggered by outbreaks are deemed as derivatives transaction-equivalents as stipulated in the FIEA.
December 26, 2016: Request for financial measures to deal with disasters caused by a large-scale fire outbreak in Itoigawa City, Niigata Prefecture (Kanto Local Finance Bureau)open new window
«Summary»
The Niigata Local Finance Office of the Kanto Local Finance Bureau with the Bank of Japan’s Niigata branch, issued a joint statement of “Financial Measures to deal with disasters caused by a large-scale fire outbreak in Itoigawa City, Niigata Prefecture” to the relevant financial institutions. The statement requests financial institutions in Niigata Prefecture to appropriately and flexibly deal with victims of the disaster considering their circumstances.
December 22, 2016: Development of the FSA’s facilitation scheme for online administrative procedureopen new window
«Summary»
The FSA published the development of its facilitation scheme for online administrative procedure as of March 31, 2016, pursuant to Article 10 of the “Act on Utilization of Information and Communication Technology in Administrative Procedure.”
December 22, 2016: Publication of the updated “Expert Column,” a subpage of the “NISA Official Promotion Webpage,” with a new article (vol.5) contributed by an external expertopen new window
«Summary»
The FSA published the updated “Expert Column,” a subpage of the “NISA Official Promotion Webpage,” with a new article (vol.5) contributed by an external expert.
December 22, 2016: Publication of the budget, organization and staff of the FSA for FY 2017open new window
«Summary»
The FSA published an overview of the budget, organization and staff of the FSA for FY2017 following the Cabinet decision on the government draft budget.
December 20, 2016: Notification of business discontinuance of a foreign audit firmopen new window
«Summary»
The FSA published the notification of the discontinuance of business submitted by a foreign audit firm, Mazars CPA Limited, pursuant to the “Certified Public Accountants Act.”

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