What’s New on the FSA Website

Week of May 26 – 30, 2014

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

Press Conferences

May 28, 2014:	Press Conference by the Minister for Financial Services (May 27, 2014) Japanese version
May 26, 2014:	Press Conference by the Minister for Financial Services (May 23, 2014) Japanese version

Public Comments

(The following public comments are available in Japanese)

May 30, 2014:	Publication of draft revisions of regulations on commodity derivatives transactions «Summary» The FSA proposed draft revisions to the Cabinet Order to regulate commodity derivatives. The revision aims to regulate how to solicit commodity derivatives to individual investors.
May 28, 2014:	Results of public comments regarding the revision of the cabinet office ordinance concerning the Financial Instruments and Exchange Act «Summary» The FSA published the results of public comments regarding a revision to the cabinet office ordinance concerning the Financial Instruments and Exchange Act, which revises the rule regarding the restriction of providing underwriting services between parent/subsidiary corporations. The FSA did not receive any comments, and no changes will be made to the original proposal. The revision is enacted from June 1, 2014.
May 27, 2014:	Publication of a draft cabinet office ordinance to ease the reporting requirements on Financial Instruments Business Operator who has obtained authorization to operate PTS and the Japan Securities Dealers Association «Summary» The FSA proposed a draft cabinet office ordinance to ease the reporting requirements on (i) Financial Instruments Business Operator who has obtained authorization to operate Proprietary Trading System (PTS) which reports transactions outside of Financial Instruments Exchange Markets, and (ii) the Japan Securities Dealers Association (JSDA), which gathers reports from Financial Instruments Business Operator and discloses them to the public.* The revision is being made in light of developments in PTS transactions. *The JSDA is revising the self-regulation rules in line with the revision of the cabinet ordinance. Information on transactions outside of Financial Instruments Exchange Markets will still be available on the JSDA's website.

Press Releases

(The Following press releases are available in English)

International

May 29, 2014:	Committee on Payment and Settlement Systems (CPSS) and Board of the International Organization of Securities Commissions (IOSCO) published “Implementation Monitoring of PFMIs: First update to Level 1 assessment report”.
May 26, 2014:	Exchange of Letters on cooperation in the area of audit oversight with the FRC of the United Kingdom

(The Following press releases are available in Japanese)

Banks

May 30, 2014:	Update of the measures taken in response to the Great East Japan Earthquake. «Summary» The FSA updated the current status of measures taken by the FSA, local finance bureaus, and financial institutions in response to the Great East Japan Earthquake.
May 30, 2014:	Publication of a statistics regarding unlawful reimbursement of deposits «Summary» The FSA published statistics on unlawful reimbursement of deposits involving counterfeit and stolen cash cards, stolen deposit books, and unlawful internet banking activities. The statistics include details of incidents and compensation made by financial institutions based on the reports from financial institutions.
May 30, 2014:	The figures regarding suspended repayments following the Great East Japan Earthquake (as of February 28, 2014) and revision of the previous figures (as of January 31, 2014) «Summary» The FSA published the number of debtors and the amount of debts of which the contractual repayment has been suspended following the Great East Japan Earthquake, based on hearings with financial institutions in the three prefectures most heavily affected by the earthquake (Iwate, Miyagi, and Fukushima). In addition, the FSA revised the previous figures, as of January 31, 2014, to correct the errors reported by financial institutions.

Securities

May 28, 2014:	Administrative action against Vienna Capital Japan KK «Summary» On May 28, 2014, the Director-General of Kanto Local Finance Bureau issued an administrative action against Vienna Capital Japan KK based on the recommendation from the Securities and Exchange Surveillance Commission (SESC). The SESC identified the violation of law by Vienna Capital Management Co., Ltd. through on-site inspection.
May 27, 2014:	An administrative penalty charge against Taiyo Shokai Inc. for its violation of the Financial Instruments and Exchange Act «Summary» On May 26, 2014, the FSA issued an order to impose an administrative penalty charge in a case regarding a false statement in the securities reports of Taiyo Shokai Inc.
May 27, 2014:	An administrative penalty charge against Sanyo Trading Co., Ltd. for its violation of the Financial Instruments and Exchange Act «Summary» On May 26, 2014, the FSA issued an order to impose an administrative penalty charge in a case regarding manipulation of stock prices of Sanyo Trading Co., Ltd.
May 27, 2014:	Updated list of entities who received warnings against their operation of  financial instruments business without proper registration (Kanto Local Finance Bureau) «Summary» The FSA (Kanto Local Finance Bureau) issued warnings to five entities for operating financial instruments business without proper registration.

Publication

May 30, 2014:	The 131st issue of “Access FSA” «Summary» The 131st issue of the FSA’s monthly journal, Access FSA (in Japanese), is now on the website. The journal provides the latest information about the FSA.

Others

May 30, 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 or have completed repaying or announced the termination of use of the prepaid payment instruments as defined in the Payment Services Act (e.g. gift vouchers, gift certificates and prepaid cards).
May 30, 2014:	Updated statistics of money lending business «Summary» The FSA updated the statistics regarding money lending business, as of March 31, 2014, and April 30, 2014.
May 29, 2014:	The 47th Meeting of the Financial Service Dispute Resolution Liaison Group «Summary» On May 29, 2014, the FSA held the 47th Meeting of the Financial Service Dispute Resolution Liaison Group. The meeting is held bi-annually to exchange information among institutions related to financial service dispute resolution and experts to provide an update on and discuss the current situation and its agenda.
May 26, 2014:	The 23rd Expert Panel on Policy Assessment «Summary» On May 30, 2014, the FSA held the 23rd Expert Panel on Policy Assessment. The Expert Panel is held annually to seek the advice and assessment of experts regarding the FSA's policies and its conduct of business.