What’s New on the FSA Website

Week of December 18 - December 22, 2017

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

Press Conferences

December 20, 2017:	Press Conference by the Minister for Financial Services (November 29, 2017) (Available in Japanese)

Public Comments

(The following public comments are available in Japanese)

December 22, 2017:

Publication of the draft amendments to the regulatory notices pertaining to Pillar 1 and Pillar 3 requirements of capital adequacy < Summary> The FSA proposed the draft amendments to the regulatory notices pertaining to Pillar 1 and Pillar 3 requirements of capital adequacy. The proposal mainly aims to reflect the final standards of BCBS which were published in 2014; namely, “The standardised approach for measuring counterparty credit risk exposures” and “Capital requirements for bank exposures to central counterparties.”

December 20, 2017:

Publication of the finalized amendments to the regulatory notice designating a foreign financial instruments exchange < Summary> The FSA finalized the amendments to the regulatory notice designating a foreign financial instruments exchange based on the “Order for Enforcement of the Financial Instrument and Exchange Act.” The main amendments additionally designate Cboe Global Markets – U.S. Equities as a designated foreign financial instruments exchange.

Press Releases

(The following press releases are available in English)

International 

December 22, 2017:	Exchange of Letters on cooperation in the area of audit oversight with the Ministry of Finance of People's Republic of China

Others

December 21, 2017:	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 19, 2017:	Publication of the agenda and handouts of the 40th meeting of the Audit Committee of the Business Accounting Council < Summary> The FSA published the agenda and handouts of the 40th meeting of the Audit Committee of the Business Accounting Council, which was held on December 19, 2017.

Banks

December 22, 2017:	Publication of a progress report on Business Revitalization Plans < Summary> The FSA published a report on the progress of business revitalization by Shinsei Bank Ltd. as of September 2017, pursuant to the “Act on Emergency Measures for Early Strengthening of Financial Functions” and the “Deposit Insurance Act.”

Securities

December 22, 2017:	Revision of the FSA regulatory notice concerning the designation of related corporations of credit rating agencies (group-based designation concerning explanatory items of unregistered ratings) < Summary> The FSA updated the list of designated credit rating agencies (unregistered credit rating agencies which belong to the same group of registered credit rating agencies and fulfill the requirements). The duty of securities companies to explain about the certain items for customers is reduced when securities companies use credit ratings provided by the agencies which are on the list. The updated list is valid from January 1, 2018 to December 31, 2019.
December 22, 2017:	Publication of “Statistics of NISA and Junior NISA Accounts” < Summary> The FSA published “Statistics of NISA and Junior NISA Accounts.” As of September 30, 2017, there were approximately 11.0 million NISA accounts in total, and approximately 11.9 trillion yen (approximately 104.7 billion USD) was invested through the NISA accounts. In addition, 56.2 billion yen (approximately 495.3 million USD) was invested through 241 thousand Junior NISA accounts, which started from January 2016.
December 21, 2017:	An updated list of entities that are operating financial instruments businesses without proper registration (The 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. (See the updated list of Japan-based entities).
December 19, 2017:	Administrative action against IwaiCosmo Securities Co.,Ltd. (The Kinki Local Finance Bureau) < Summary> The Kinki Local Finance Bureau took an administrative action against IwaiCosmo Securities Co.,Ltd., ordering the improvement of its business operations pursuant to the “Financial Instruments and Exchange Act.” This administrative action is based on a recommendation from the Securities and Exchange Surveillance Commission (SESC) as a result of its on-site inspection.

Others

December 22, 2017:	Publication of the request for organization, staff and budget for FY 2018 < Summary> The FSA published an overview of the request for organization, staff and budget for FY 2018.
December 22, 2017:	Key Items Related to the FSA in the Outline for the FY 2018 Tax Reform < Summary> Based on the compiled FY 2018 Tax Reform, the FSA published the Key Items Related to the FSA in the Outline for the FY 2018 Tax Reform.
December 21, 2017:	Publication of the agenda and handouts of the 13th meeting of the “Council of Experts Concerning the Follow-up of Japan’s Stewardship Code and Japan’s Corporate Governance Code” < Summary> The FSA published the agenda and handouts of the 13th meeting of the “Council of Experts Concerning the Follow-up of Japan’s Stewardship Code and Japan’s Corporate Governance Code,” which was held on December 21, 2017.