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September 13, 2019
Financial Services Agency

The results of monitoring customer-oriented business conduct of investment trust distributors

The Financial Services Agency (FSA) published  the “Principles for Customer-Oriented Business Conduct” (hereinafter referred to as “the Principles”) in March 2017.The FSA encouraged financial institutions adopting “the Principles” to develop and publicize their “policy” and  “KPIs (Key performance indicators) ” which are  for the objective assessment of embeddedness of policy, and released the list of financial institutions that implemented the initiatives on the FSA website.

 The FSA also selected and published the  good practices of respective KPIs to improve the development of these by each financial institution. In June 2018, the FSA published three comparable  “common KPIs ”  that measure lomg-term return proportional to risk/cost of customers, apart from the respective KPIs developed by each financial institution, and encouraged financial institutions publicizing these in order to further promote “visualization” of their initiatives.

 Moreover, the FSA analyzed the policies and KPIs, and published the good practices of contents and how they are used on  financial institutions’ business in order to promote establishment of customer-oriented business conduct .

 In August 2019, The FSA published the results of the customer survey  (the FSA conducted from January to March 2019) which is for confirming the level of customer awareness and feedback on the initiatives made by the FSA and financial institutions due to two years having passed since the publication of “the Principles”.

 In addition to these initiatives, the FSA published the result of its monitoring about the current status of the customer-oriented business conduct implemented by major financial institutions (ten major banks, twenty regional banks, and twelve securities companies).

The results of monitoring customer-oriented business conduct of investment trust distributors (summary)


Financial Services Agency
Tel +81-(0)3-3506-6000 (switchboard number)
Customer-oriented Business Conduct team, Risk Analysis Division,
Strategy Development and Management Bureau
(ext.  2199, 2203)


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