Laws & Regulations

Name of Laws and Regulations

• Name of Laws and Regulations (As of December 14, 2020)  
  　For the full text, please search here by name of laws and regulations
  　⇒  Japanese Law Translation Database System

Recent Changes (Legislation, Ordinances, Guidelines)

• The Diet Session #211 (ordinary session) (Available in Japanese)

Past

Guidelines

Supervisory Guidelines and Policies

• Comprehensive Guidelines for Supervision of Major Banks, etc（ PDF format（PDF:5,509KB））
• Comprehensive Guidelines for Supervision of Insurance Companies (PDF format (PDF:2,277KB) ) 
• Comprehensive Guidelines for Supervision of Financial Instruments Business Operators, etc.
  (PDF(PDF:4,569KB) PDF Format (PDF:824KB))
• Guidelines for Supervision of Credit Rating Agencies
  (PDF (PDF:302KB)   PDF format (PDF:109KB)
• Guidelines for Supervision of High Speed Traders (PDF(PDF:163KB))
• Guideline for Supervision of Financial Conglomerates (This  guideline was repealed on December 18, 2019.)
  • Main document (HTML format ・ PDF format)
• Comprehensive Guidelines for Supervision of Financial Service Intermediaries（ PDF(PDF:2,003KB))
• Comprehensive Guidelines for Supervision of Financial Market Infrastructures（PDF(PDF:730KB))
• Guideline for Supervision of Issuers of Prepaid Payment Instruments (PDF (PDF:663KB))

• Guideline for Supervision of Funds Transfer Service Providers  (PDF (PDF:856KB))
• Guideline for Supervision of Crypto-Asset Exchange Service Providers (PDF (PDF:762KB))
• Other Supervisory Guidelines

Other Guidelines

• Guidelines for Protection of Personal Information in the Finance Sector
• Practical Guideline on the Security Control Actions under the Guidelines for Protection of Personal Information in the Finance Sector
• Points to be Considered regarding Disclosure by way of Foreign Company Registration Statements, etc. (Guideline for the English-language Disclosure System) (PDF:52KB)
• Key matters in examining Liquidity Risk Management at Large Complex Financial Groups (PDF:85KB)
• Points to Note Regarding Disclosure of Corporate Affairs (Guideline for the Disclosure of Corporate Affairs) (PDF:589KB)
• Points to Note Regarding Article 27-36 of the Financial Instruments and Exchange Act (Fair Disclosure Rule Guidelines) (PDF:90KB)
• Guidelines for Anti-Money Laundering and Combating the Financing of Terrorism (PDF:650KB)
• Frequently Asked Questions Regarding “Guidelines for Anti-Money Laundering and Combating the Financing of Terrorism” (PDF:1,770KB)
• Principles for Model Risk Management (PDF:922KB）
• Guidelines for Creating, Recordkeeping and Reporting of Transaction Information specified in Article 4(1) of the Cabinet Office Order on the Regulation of Over-the-Counter Derivatives Transactions, etc. (PDF:538KB）
• Principles for Effective Management of Audit Firms (The Audit Firm Governance Code) (PDF:424KB)

Q&As

• Other Q&As

About Financial Instruments and Exchange Act

• Financial Instruments and Exchange Act
• FAQ on Financial Instruments and Exchange Act (HTML format • PDF format (PDF:412KB))

Q&As

• Q&A Concerning the Emergency Registration Exemption for Foreign Financial Institutions/Asset Managers (Temporary relief to address overseas business disruptions due to disaster or other reasons)
• Other Q&As

Financial Monitoring Policy

• Basic Guidelines for Financial Inspection (Available in Japanese)
• Publication of Highlights of the Financial Monitoring Policy for 2014-2015
• Publication of the Financial Monitoring Policy for 2014-2015
• Publication of Highlights of the Financial Monitoring Report for 2014-2015 (Available in Japanese)

JFSA’s supervisory approaches

• Revision of "JFSA’s supervisory approaches - Replacing checklists with engagement -"
• Call for comments in English on "JFSA’s supervisory approaches - Replacing checklists with engagement -"
• JFSA’s supervisory approaches to Lending business
• "Transforming the JFSA's supervisory approaches," recommendation by the Advisory Group on Supervisory Approaches
• JFSA’s Approaches to Prudential Supervision
• JFSA’s Approaches to Compliance Risk Management
• Publication of the summary of “JFSA’s Approach to Compliance Risk Management” and “Trends and Issues in Compliance Risk Management”
• Publication of the finalized “Discussion Paper on Dialogues and Practices Regarding Financial Institutions’ IT Governance”
• Publication of "Supervisory Guidance on Climate-related Risk Management and Client Engagement"
• Discussion Paper on Ensuring Operational Resilience
• Meeting of the Financial Monitoring Council (June 7, 2021)
• Replacing checklists with engagement (Presentation by Ryozo Himino, Vice Minister for International Affairs, Financial Services Agency, Japan, at Session I, Supervisory approaches for Oversight of Intermediaries, of the CFTC International Regulators Meeting, Boca Raton, Florida, March 13, 2018)

Inspection Manuals（These documents were repealed on December 18, 2019.）

• Inspection Manual for Deposit-Taking Institutions (last-updated in June, 2014 for English version)
• Financial Inspection Rating System for Deposit-Taking Institutions
• Inspection Manual for Insurance Companies
• Inspection Rating System for Insurance Companies

Past Supervisory Policies and Financial Monitoring Policies

Public Comment

Result of Public Comments

• Response to the FSA’s Consulation on the Proposed Amendment of the Comprehensive Supervisory Guidelines for Financial Instruments Business Operators, etc. regarding ESG Investment Trusts ;(March 31, 2023)
• Finalization of “the Code of Conduct for ESG Evaluation and Data Providers (December 15, 2022)
• Finalization of the "Guidelines for Creating, Recordkeeping and reporting of Transaction Information specified in Article 4(1) of the Cabinet Office Order on the Regulation of Over-the-Counter Derivatives Transactions, etc." (December 9, 2022).
• Finalization of Partial Amendment for Regulatory Notice Specifying the Documents Based on Article 2 (1) of the Cabinet Office Order on Financial Instruments Business, etc. (October 31, 2022)
• Finalization of Cabinet Office Order to Partially Amend Cabinet Office Order on Financial Instruments Business, etc. (March 29,2022)
• Publication of the "Social Bond Guidelines”(October 26, 2021)
• Finalization of the Revised Guidelines for Investor and Company Engagement (June 11, 2021)
• Finalization of Cabinet Office Order to Partially Amend the Regulation for Enforcement of the Insurance Business Act (April 19, 2021)
• Finalization of Cabinet Office Order to Partially Amend Cabinet Office Order on Financial Instruments Business, etc., the Ordinance to Partially Amend the Ordinance on Financial Services Providers’ Deposit for Operation and Regulatory Notices (January 12, 2021)
• Japan’s Corporate Governance Code [Final Proposal]
• Principles for Responsible Institutional Investors «Japan’s Stewardship Code»
• FSA publishes an English translation of Key matters in examining Liquidity Risk Management at Large Complex Financial Groups (September 12, 2014) Japanese version

Invitation for Public Comments

• Public Comments on the Revised  Draft of  “Guidelines for Creating, Recordkeeping and Reporting of Transaction Information specified in Article 4(1) of the Cabinet Office Order on the Regulation of Over-the-Counter Derivatives Transactions, etc. " (September 1, 2023)
• Invitation for Public Comments regarding “Draft Basic Guidelines on Impact Investment”  (July 31, 2023) 
• Call for Public Comment on Proposed Partial Amendments to the Comprehensive Supervisory Guidelines for Financial Instruments Business Operators, etc. regarding ESG Investment Trusts (December 19,2022).
• Public Comments on the "Guidelines for Creating, Recordkeeping and Reporting of Transaction Information specified in Article 4(1) of the Cabinet Office Order on the Regulation of Over-the-Counter Derivatives Transactions, etc. (Draft)" (September 12, 2022)
• Public Consultation on Partial Amendment for Regulatory Notice Specifying the Documents Based on Article 2 (1) of the Cabinet Office Order on Financial Instruments Business, etc.（August 31, 2022）
• Public Comments regarding “the Code of Conduct for ESG Evaluation and Data Providers” (July 12,2022)
• Public Consultation on Cabinet Office Order to Partially Amend Cabinet Office Order on Financial Instruments Business, etc. (January 18,2022)
• Public comments on the "Social Bond Guidelines(Draft)"(July 21,2021)
• Public Comments on the ”Guidelines for Investor and Company Engagement” (Revision Draft) (April 7, 2021)
• Public Consultation on the Cabinet Office Order to Partially Amend the Regulation for Enforcement of the Insurance Business Act (February 15, 2021)
• Public Consultation on Cabinet Office Order to Partially Amend Cabinet Office Order on Financial Instruments Business, etc., the Ordinance to Partially Amend the Ordinance on Financial Services Providers’ Deposit for Operation, etc. (November 6, 2020)
• Public Comments regarding the "JFSA’s supervisory approaches -Replacing checklists with engagement-"
• Public Comments regarding the “Working Group on Financial Markets”
• Public Comments regarding the Council of Experts Concerning the Follow-up of Japan’s Stewardship Code and Japan’s Corporate Governance Code

About No-Action Letter System

No-Action Letter System

• Introduction of the Prior Confirmation Procedures on the Application of Laws and Regulations by the Financial Services Agency (Available in Japanese)
• Details of the Prior Confirmation Procedures on the Application of Laws and Regulations by the Financial Services Agency (Available in Japanese)
• Response to the Prior Confirmation Procedures on the Application of Laws and Regulations (Available in Japanese)

General Inquiry on Laws and Regulations

• Written Inquiry Procedure for General Applicability of Laws and Regulations (Available in Japanese)
• Response to Inquiries on General Applicability of Laws and Regulations (Available in Japanese)

Procedures concerning Foreign Account Management Institutions

• Procedures concerning Foreign Account Management Institutions