What’s New on the FSA Website

Week of June 15 - June 19, 2015

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

Press Conferences

June 17, 2015:	Press Conference by the Minister for Financial Services (June 16, 2015) (Available in Japanese)
June 15, 2015:	Press Conference by the Minister for Financial Services (June 12, 2015) (Available in Japanese)

Public Comments

(The following public comment is available in Japanese)

June 18, 2015:

Publication of amendments to the "Cabinet Office Ordinance on Restrictions on Securities Transactions" and the guidelines for the "Financial Instruments and Exchange Act" «Summary» The FSA proposed amendments to the "Cabinet Office Ordinance on Restrictions on Securities Transactions" and the guidelines for the "Financial Instruments and Exchange Act". The following is a brief overview of the amendments proposed. The amendments to the cabinet office ordinance define comprehensive exemption for stock-purchasing/selling contracts and schemes made before knowing insider information. The amendments to the guidelines clarify the interpretation of the provisions to exempt the counter stock-purchase arrangement against hostile TOB.

Press Releases

(The following press releases are available in English)

International

June 17, 2015:	Exchange of Letters on co-operation in the area of financial institutions supervision with the Central Bank of the United Arab Emirates (CBUAE)
June 16, 2015:	BIS Committee on Payments and Market Infrastructures (BIS/CPMI) and International Organization of Securities Commissions (IOSCO) published a report “Implementation monitoring of PFMIs: Second update to Level 1 assessment report”

Councils

June 17, 2015:	The fourth meeting of the Working Group on Financial Group of the Financial System Council (June 29th, 2015)

Others

June 17, 2015:	Updated list of issuers of gift certificates in repayment procedures based on the "Payment Services Act"

(The following press releases are available in Japanese)

Councils

June 17, 2015:	Publication of the agenda and handouts of the third meeting of the Working Group on the Financial Group of the Financial System Council «Summary» The FSA published the agenda and handouts of the third meeting of the Working Group on the Financial Group of the Financial System Council, which was held on June 16, 2015.

Banks

June 17, 2015:

Waning against bank account scams by non-registered business entities «Summary» The FSA issued a warning against bank account scams by the entities that are not registered with the FSA as banks. In Japan, only the banks registered with the FSA are allowed to solicit or broker to open an account at a foreign bank that has no office in Japan. It is recently reported that the names of foreign banks that actually exist are used in the brochures introducing bank accounts with high interest rates. Solicitations using such brochures are highly likely to be bank account scams aimed to defraud fees and opening deposits.

June 15, 2015:

Publication of the updated regulatory notice designating the persons for whom Shinkin Banks and the Federation of Shinkin Banks can act as agents or intermediaries «Summary» The FSA published the updated regulatory notice designating the persons for whom Shinkin Banks and the Federation of Shinkin Banks can act as agents or intermediaries. The updated regulatory notice reflects the amendments to the “Act on General Rules for Incorporated Administrative Agencies.” The notice has been applied from June 15, 2015 onwards.

Securities

June 19, 2015:	Updated list of entities that are operating financial instruments businesses without proper registration (Kanto Local Finance Bureau) «Summary» The FSA (Kanto Local Finance Bureau) issued warnings to entities that are operating financial instruments businesses without proper registration.

Others

June 19, 2015:

Administrative action against CROSSTIER Audit Corporation «Summary» On June 19, 2015, the FSA issued an administrative order against CROSSTIER Audit Corporation, suspending the firm’s operations except liquidation of the firm for one year from June 22, 2015 to June 21, 2016, 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.

June 16, 2015:

Publication of the agenda and handouts of the 49th Meeting of the Financial Service ADR (Alternative Dispute Resolution) Liaison Group held on June 15, 2015 «Summary» The FSA published the agenda and handouts of the 49th Meeting of the Financial Service ADR Liaison Group, which was held on June 15, 2015.