FSA Weekly Review No.98 May 28, 2014

 

What’s New on the FSA Website

Week of May 19 - 23, 2014

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

Topics

May 23, 2014: “Financial institutions under on-site inspection by the FSA” has been updated

Press Conferences

May 21, 2014: Press Conference by the Minister for Financial Services (May 20, 2014) Japanese versionopen new window
May 19, 2014: Press Conference by the Minister for Financial Services (May 16, 2014) Japanese versionopen new window

Press Releases

(The Following press releases are available in Japanese)

Securities

May 23, 2014: Administrative action against Ohisama Energy Fund Co., Ltd. (Kanto Local Finance Bureau)open new window
«Summary»
On May 23, 2014, the Director-General of Kanto Local Finance Bureau issued an administrative action against Ohisama Energy Fund Co., Ltd. based on a recommendation from the Securities and Exchange Surveillance Commission (SESC). The SESC identified the violation of law by Ohisama Energy Fund Co., Ltd. through on-site inspection.
May 20, 2014: Updated list of illegal entities who are operating financial instruments business without proper registration (Kanto Local Finance Bureau)open new window
«Summary»
The FSA (Kanto Local Finance Bureau) issued warnings to five entities for operating financial instruments business without proper registration.

Others

May 23, 2014: Administrative action against an audit firmopen new window
«Summary»
The FSA issued an administrative order to Tokyo Chuo Audit Corporation, suspending the firm from accepting new engagements for one year from May 27, 2014, to May 26, 2015, and requiring the firm to improve its operation, pursuant to Article 34-21(2)(iii) of the Certified Public Accountants Act. The FSA had investigated the firm following a recommendation from the Certified Public Accountants and Auditing Oversight Board, and confirmed that the firm’s operations were significantly inappropriate.
May 23, 2014: Start of the "Prior Consulting Service" to provide trouble prevention guidance to financial services usersopen new window
«Summary»
On May 23, 2014, the FSA started the "Prior Consulting Service" by telephone, facsimile or the inquiry form on the website for financial services users to prevent problems concerning the use of financial services.
May 22, 2014: Decision to establish special entities for succeeding to the business of financial institutions under special monitoringopen new window
«Summary»
The FSA decided to establish five special entities as subsidiaries of the Deposit Insurance Corporation of Japan for succeeding the obligations of financial institutions under special monitoring pursuant to Article 126-34 (1) of the Deposit Insurance Act. The establishment follows the enforcement of the revised Deposit Insurance Act which provides measures for the orderly resolution of financial institutions.
May 19, 2014: Updated List of issuers of gift certificates in repayment procedures based on the Payment Services Actopen new window
«Summary»
The FSA updated the list of issuers who are repaying or have completed repaying or 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).

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