What’s New on the FSA Website

Week of May 25 - May 29, 2015

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

Press Conferences

May 27, 2015:	Press Conference by the Minister for Financial Services (May 26, 2015) (Available in Japanese)
May 25, 2015:	Press Conference by the Minister for Financial Services (May 22, 2015) (Available in Japanese)

Public Comments

(The following public comments are available in Japanese)

May 29, 2015:	Publication of a draft regulatory notice designating yen interest rate swap transactions that are subject to the use of electronic trading platforms pursuant to Article 125-7(1) of the “Cabinet Office Ordinance on Financial Instruments Business” «Summary» The FSA proposed a draft regulatory notice designating yen interest rate swap transactions that are subject to the use of electronic trading platforms (SEF: swap execution facilities) pursuant to Article 125-7(1) of the “Cabinet Office Ordinance on Financial Instruments Business,” following the amendment in 2012 to the “Financial Instruments and Exchange Act,” which obligates financial instrument business operators to use electronic trading platforms for specified OTC derivative transactions.
May 28, 2015:	Publication of the regulatory notice designating securities which are excluded from tradable securities defined under Article 67-18 (4) of the "Financial Instruments and Exchange Act (FIEA)" «Summary» On May 28, 2015, the FSA finalized the regulatory notice designating securities which are excluded from tradable securities defined under Article 67-18(4) of the "Financial Instruments and Exchange Act (FIEA)." These securities were specified by the Commissioner of the FSA pursuant to Article 67-18 (4) of the "Financial Instruments and Exchange Act (FIEA)," and has been applied from May 29, 2015. No change has been made to the proposed draft.
May 27, 2015:	Publication of the updated Order and Guidelines for Supervision implementing the 2014 revisions of the "Insurance Business Act" «Summary» The FSA finalized amendments to the "Order and Ordinance for Enforcement of the Insurance Business Act" and the "Comprehensive Guidelines for Supervision of Insurance Companies," implementing the 2014 revisions of the "Insurance Business Act." The amendments update the rules regarding insurance solicitors’ obligations to provide adequate information to customers, work to accommodate the intentions of customers, and develop a compliance system for appropriate insurance solicitation.

Press Releases

(The following press releases are available in English)

International

May 28, 2015:	Financial Stability Board published a peer review report “Thematic Review on Supervisory Frameworks and Approaches for SIBs”

Councils

May 26, 2015:	The third meeting of the Working Group on Financial Group of the Financial System Council (June 16th, 2015)

Banks

May 29, 2015:	Update on measures taken in response to the Great East Japan Earthquake (as of May29, 2015)

Publication

May 29, 2015:	Publication of the 143rd issue of the FSA’s monthly journal, Access FSA

Others

May 29, 2015:	Updated list of issuers of gift certificates in repayment procedures based on the "Payment Services Act"
May 29, 2015:	Updated statistics of money lending business

(The following press releases are available in Japanese)

Councils

May 27, 2015:	Publication of the agenda and handouts of the second meeting of the Working Group on the Financial Group of the Financial System Council «Summary» The FSA published the agenda and handouts of the second meeting of the Working Group on the Financial Group of the Financial System Council, which was held on May 26, 2015.

Banks

May 29, 2015:

Figures regarding suspended repayments following the Great East Japan Earthquake (as of February 28, 2015) «Summary» The FSA published the number of debtors and the amount of debt for 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).

Securities

May 29, 2015:

Updated list of entities who are operating financial instruments businesses without proper registration (Kanto Local Finance Bureau) «Summary» The FSA (Kanto Local Finance Bureau) issued warnings to entities who are operating financial instruments businesses without proper registration.

May 26, 2015:

Administrative action against kabu.com Securities Co., Ltd. «Summary» On May 26, 2015, the FSA took administrative action against kabu.com Securities Co., Ltd., requiring the firm to improve its operations pursuant to the Financial Instruments and Exchange Act. This administrative action is based on a recommendation from the Securities and Exchange Surveillance Commission (SESC) as a result of their on-site inspection. The SESC found that the firm’s management of its electronic information processing system for financial instrument transactions does not satisfy the required standard.

Others

May 29, 2015:

Financial measures to deal with disasters caused by the eruption of Mt. Shindake (Kuchinoerabu-jima) (Kagoshima Local Finance Office of the Kyushu Local Finance Bureau) «Summary» The Kagoshima Local Finance Office of the Kyushu Local Finance Bureau and the Bank of Japan’s Kagoshima branch issued the joint statement “Financial Measures to deal with disasters caused by the eruption of Mt. Shindake (Kuchinoerabu-jima)” to relevant financial institutions. The statement requests financial institutions in Kagoshima Prefecture to appropriately deal with victims of the disaster considering their circumstances, such as by making the repayment of deposits flexible.