What’s New on the FSA Website

Week of December 15 - December 19, 2014

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

Press Conference

December 18, 2014:	Press Conference by the Minister for Financial Services (December 16, 2014) (Available in Japanese)

Public Comment

(The following public comment is available in Japanese)

December 17, 2014:

Publication of draft regulatory notices on the leverage ratio for internationally active banks based on Basel III «Summary» The FSA proposed draft regulatory notices on the leverage ratio for internationally active banks. The notices are to be implemented on March 31, 2015, and they will stipulate the calculation of the leverage ratio based on Basel III. The FSA will finalize the notices after a one-month public consultation.

Press Releases

(The Following press releases are available in English)

International

December 18, 2014:	The International Association of Insurance Supervisors (IAIS)’s first public consultation on global insurance capital standard
December 16, 2014:	Basel Committee of Banking Supervision published a document “ Revisions to the securitisation framework”
December 16, 2014:	Basel Committee of Banking Supervision (BCBS) and International Organization of Securities Commissions (IOSCO) published consultative document “Criteria for identifying simple, transparent and comparable securitisations”

Others

December 17, 2014:	Publication of the exposure draft of the “Corporate Governance Code”- For the sustainable growth of companies and the increase of medium - to long-term corporate value -

(The Following press releases are available in Japanese)

Councils

December 18, 2014:	Publication of the agenda and handouts of the eighth meeting of the Study Group on Payments and Transaction Banking of the Financial System Council «Summary» The FSA published the agenda and handouts of the eighth meeting of the Study Group on Payments and Transaction Banking of the Financial System Council, which was held on December 16, 2014.
December 16, 2014:	Publication of the agenda and handouts of the fifth meeting of the Working Group on Investment Management of the Financial System Council «Summary» The FSA published the agenda and handouts of the fifth meeting of the Working Group on Investment Management of the Financial System Council, which was held on December 16, 2014.
December 15, 2014:	Publication of the agenda and handouts of the first meeting of the Accounting Committee of the Business Accounting Council «Summary» The FSA published the agenda and handouts of the first meeting of the Accounting Committee of the Business Accounting Council, which was held on December 15, 2014.

Banks

December 19, 2014:

Summary of results of the survey on business sentiment of small and medium-size enterprises «Summary» The FSA published a summary of results of the quarterly survey on business sentiment of small and medium-size enterprises implemented in November 2014. Local Finance Bureaus throughout the nation conducted interviews and collected information from local chambers of commerce.

December 16, 2014:

Submission of a biannual report on the measures for the resolution of failed financial institutions to the National Diet «Summary» On December 16, 2014, the FSA submitted to the National Diet a biannual report on the measures for the resolution of failed financial institutions (the FRC report) pursuant to the "Act on Emergency Measures for the Revitalization of the Financial Functions." The report covers the developments between April 1 and September 30, 2014.

Securities

December 19, 2014:	Updated list of qualified institutional investors engaging in a specially permitted business who are operating financial instruments business without proper registration (Kanto Local Finance Bureau) «Summary» The FSA (Kanto Local Finance Bureau) issued warnings to qualified institutional investors engaging in a specially permitted business who are operating financial instruments business without proper registration.
December 17, 2014:	Progress report of initiatives taken by market participants to reduce securities settlement risks «Summary» The Japan Securities Dealers Association, the Trust Companies Associations of Japan, and the Japan Securities Clearing Corporation published the progress report of the initiatives taken by market participants to reduce securities settlement risks.
December 17, 2014:	Updated list of qualified institutional investors engaging in a specially permitted business who provided false information (Kanto Local Finance Bureau) «Summary» The FSA (Kanto Local Finance Bureau) issued a warning to qualified institutional investors engaging in a specially permitted business who provided false information to their customers.
December 17, 2014:	Administrative penalty charge against JALCO Holdings, Inc. for making false statements in securities reports «Summary» On December 16, 2014, the FSA issued an order to impose an administrative penalty charge against JALCO Holdings, Inc. for making false statements in its securities reports.
December 16, 2014:	Administrative action against NEXT TRUST Co., Ltd. (Kanto Local Finance Bureau) «Summary» On December 16, 2014, the Kanto Local Finance Bureau took an administrative action against NEXT TRUST Co., Ltd. requiring the firm to suspend its business for three months from December 16, 2014, to March 15, 2015, and to improve its operation. This administrative action is based on a recommendation from the Securities and Exchange Surveillance Commission (SESC) as a result of its on-site inspection. The SESC found that the company violated regulations of Article 36-3 of the Financial Instruments and Exchange Act and lent its name to an unauthorized business operator.

Others

December 19, 2014:	Administrative action against Cashwell Asset Management K.K. (Kanto Local Finance Bureau) «Summary» On December 19, 2014, the Kanto Local Finance Bureau took an administrative action against Cashwell Asset Management K.K., requiring the firm to improve its operation pursuant to Article 55 of the Act on Settlement of Funds. This administrative action is based on research on a collected report, in which Kanto Local Finance Bureau found that there are serious concerns with regard to Cashwell Asset Management K.K.'s compliance and business management.
December 17, 2014:	Publication of “Financial Measures in Response to the Report of the Subspecies of Highly Pathogenic Bird Flu” (Kyushu Local Finance Bureau) «Summary» The Kyushu Local Finance Bureau issued the statement “Financial Measures in Response to the Report of the Subspecies of Highly Pathogenic Bird Flu” to relevant financial institutions. The statement requests financial institutions to deal appropriately with applications for new loans or changes of loan terms from customers affected by the bird flu epidemic.
December 17, 2014:	Publication of a list of specified limited partnerships for investment «Summary» The FSA published a list of specified limited partnerships for investment that are designated as such by the Prime Minister and the Minister of Economy, Trade and Industry. The listed limited partnerships for investment are eligible for the special provisions of the tax scheme for enterprise revitalization.
December 16, 2014:	Updated list of issuers of gift certificates in repayment procedures based on the "Payment Services Act «Summary» The FSA updated the list of issuers who are repaying, have completed repaying or have announced the termination of use of prepaid payment instruments, as defined in the "Payment Services Act" (e.g. gift vouchers, gift certificates, and prepaid cards).
December 15, 2014:	Warning against fraudulent offers by business operators who disguise themselves as officials of the FSA or the SESC «Summary» The FSA updated its warning against fraudulent offers by business operators who disguise themselves as officials of the FSA or the Securities and Exchange Surveillance Commission (SESC). The FSA and the SESC never call any private individual/entity to order a penalty payment for a violation of laws and regulations, or to provide information or recommendations to support an investment decision. Please be careful of such fraudulent offers.