FSA Weekly Review No.549 August 10, 2023

FSA Weekly Review No.549: August 10, 2023

What’s New on the FSA Website

Week of July 28, 2023 - August 3, 2023

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

Public Comments

August 1, 2023	Publication of the finalized "Cabinet Office Order to Amend the Cabinet Office Order on Financial Instruments Business, etc." after public consultation <Summary> The FSA published the finalized "Cabinet Office Order to Amend the Cabinet Office Order on Financial Instruments Business, etc." after public consultation. In response to the recommendation made in "Interim Report of the Working Group on Capital Market Regulations" [provisional English title] (available only in Japanese) compiled by the "Working Group on Capital Market Regulations" (provisional English title) of the Financial System Council, the finalized Cabinet Office Order is intended to develop the environment for financial business operators intending to concurrently engage in investment advisory business as a subsidiary business, by providing the amendments to the said Cabinet Office Order, mainly in terms of the following: - Review of the application of registration pertaining to investment advisory business, or of the employee who is to submit the notification. - Matters to be described in the document for delivery prior to the conclusion of an investment advisory contract and discretionary investment management contract, etc. - Flexibility of media for documents describing the content of advice based on an investment advisory contract - Review of exemptions from the prohibition of lending, etc. in regard to investment advisory services, and - Other required amendments. The finalized Cabinet Office Order will be enforced on August 15, 2023. (The relevant and applicable Comprehensive Guidelines for Supervision will also take effect on August 15, 2023). The original press release is available in Japanese at the following URL: https://www.fsa.go.jp/news/r5/shouken/20230801/20230801.html
July 31, 2023	Invitation for Public Comments regarding “Draft Basic Guidelines on Impact Investment”

August 1, 2023

Publication of the finalized "Cabinet Office Order to Amend the Cabinet Office Order on Financial Instruments Business, etc." after public consultation
<Summary>
The FSA published the finalized "Cabinet Office Order to Amend the Cabinet Office Order on Financial Instruments Business, etc." after public consultation.
In response to the recommendation made in PDF

"Interim Report of the Working Group on Capital Market Regulations" open new window

[provisional English title] (available only in Japanese) compiled by the "Working Group on Capital Market Regulations" (provisional English title) of the Financial System Council, the finalized Cabinet Office Order is intended to develop the environment for financial business operators intending to concurrently engage in investment advisory business as a subsidiary business, by providing the amendments to the said Cabinet Office Order, mainly in terms of the following:

- Review of the application of registration pertaining to investment advisory business, or of the employee who is to submit the notification.
- Matters to be described in the document for delivery prior to the conclusion of an investment advisory contract and discretionary investment management contract, etc.
- Flexibility of media for documents describing the content of advice based on an investment advisory contract
- Review of exemptions from the prohibition of lending, etc. in regard to investment advisory services, and
- Other required amendments.

The finalized Cabinet Office Order will be enforced on August 15, 2023. (The relevant and applicable Comprehensive Guidelines for Supervision will also take effect on August 15, 2023).

The original press release is available in Japanese at the following URL:
https://www.fsa.go.jp/news/r5/shouken/20230801/20230801.html open new window

July 31, 2023

Invitation for Public Comments regarding “Draft Basic Guidelines on Impact Investment”

Press Releases

Councils

July 31, 2023	"The Third Report by the Expert Panel on Sustainable Finance" Announced
July 31, 2023	"Report by the Working Group on Impact Investment" Announced
July 28, 2023	Publication of the agenda and an outline of proceedings of the sixth meeting of "Advisory Council on Scenario Data for Climate Change Risk and Opportunity Assessment" (provisional English title) <Summary> The FSA, as a co-host member of the secretariat* of the "Advisory Council on Scenario Data for Climate Change Risk and Opportunity Assessment" (provisional English title), published the agenda and an outline of proceedings of the sixth meeting of the Advisory Council, which was held on June 14, 2023. In the sixth meeting, the secretariat (the FSA) gave a briefing on the draft summary of discussions of the meetings of the Advisory Council, whereupon the Advisory Council members engaged in an exchange of opinions. * The secretariat of the Advisory Council is co-hosted by the FSA, Ministry of Education, Culture, Sports, Science and Technology, Ministry of Land, Infrastructure, Transport and Tourism, and Ministry of the Environment, with representatives from the financial and non-financial sectors as Advisory Council members, and representative officials from the relevant government ministries and agencies as observers. The Advisory Council is aimed at exchanging opinions on climate change-related data among stakeholders in the public and private sectors regarding their needs, challenges, and future directions to appropriately use climate change-related data, thereby effectively responding to climate change. The original press release is available in Japanese at the following URL: https://www.fsa.go.jp/singi/scenario_data/siryou/20230614.html https://www.fsa.go.jp/singi/scenario_data/gijiyousi/20230614.html
July 28, 2023	Publication of the agenda and handouts of the second meeting of the "Working Group on Tender Offer Rule and Large Shareholding Reporting Rule" of the Financial System Council <Summary> The FSA published the agenda and handouts of the second meeting of the "Working Group on Tender Offer Rule and Large Shareholding Reporting Rule" of the Financial System Council, which was held on July 31, 2023. The Working Group members engaged in a discussion on the issues to be considered pertaining to the tender offer rule. The original press release is available in Japanese at the following URL: https://www.fsa.go.jp/singi/singi_kinyu/tob_wg/shiryou/20230731.html

Banks

July 31, 2023	Overview of modifications to lending conditions by financial institutions <Summary> The FSA published an overview of modifications to lending conditions made by financial institutions for the period from March 10, 2020 to June 30, 2023. * The majority of the data reflects the data until June 30, 2023, whereas the data of cooperative financial institutions reflects the data until March 31, 2023. The original press release is available in Japanese at the following URL: https://www.fsa.go.jp/ordinary/coronavirus202001/kashitsuke/20200430.html

July 31, 2023

Overview of modifications to lending conditions by financial institutions
<Summary>
The FSA published an overview of modifications to lending conditions made by financial institutions for the period from March 10, 2020 to June 30, 2023.

* The majority of the data reflects the data until June 30, 2023, whereas the data of cooperative financial institutions reflects the data until March 31, 2023.

The original press release is available in Japanese at the following URL:
https://www.fsa.go.jp/ordinary/coronavirus202001/kashitsuke/20200430.html open new window

Others

July 28, 2023	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 lists of Japan-based entities and foreign-based entities). These lists also include the warned non-registered entities with untraceable/unidentified addresses. (Postal and/or web addresses on the list of the warned non-registered foreign-based entities reflect those shown on their respective webpages, not necessarily the addresses that could be traced and identified). The original press release is available in Japanese at the following URL: https://www.fsa.go.jp/ordinary/chuui/mutouroku.html

July 28, 2023

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 lists of Excel

Japan-based entities open new window

and

foreign-based entities open new window

).
These lists also include the warned non-registered entities with untraceable/unidentified addresses. (Postal and/or web addresses on the list of the warned non-registered foreign-based entities reflect those shown on their respective webpages, not necessarily the addresses that could be traced and identified).

The original press release is available in Japanese at the following URL:
https://www.fsa.go.jp/ordinary/chuui/mutouroku.html open new window

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