What’s New on the FSA Website

Week of October 13 – October 16, 2015

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

Press Conferences

October 14, 2015:	Press Conference by the Minister for Financial Services (October 13, 2015) Japanese version

Public Comments

(The following public comment is available in Japanese)

October 16, 2015:

Publication of the updated “Insurance Inspection Manual” «Summary» The FSA finalized amendments to the “Insurance Inspection Manual” to reflect the May 2015 revision to the “Comprehensive Guidelines for Supervision of Insurance Companies.” It will be applied from May 29, 2016. In this regard, however, only the update regarding insurance solicitation without face-to-face contact has been applied since October 16, 2015.

Press Releases

(The following press releases are available in English)

International

October 14, 2015:	Financial Stability Board published a letter to G20 Finance Ministers and Central Bank Governors
October 13, 2015:	International Association of Insurance Supervisors published a final report “Higher Loss Absorbency (HLA) Requirement for Global Systemically Important Insurers”

Councils

October 13, 2015:	The seventh meeting of the Working Group on Financial Group of the Financial System Council (October 21st, 2015)

Others

October 16, 2015:	Updated list of issuers of gift certificates in repayment procedures based on the “Payment Services Act”
October 15, 2015:	“Rethinking Regulatory Reforms” - Keynote Speech by Mr. Nobuchika Mori, Commissioner, at Pan Asian Regulatory Summit [Speech] [Presentation Materials]

(The following press releases are available in Japanese)

Banks

October 16, 2015:	Publication of statistics regarding unlawful reimbursement of deposits «Summary» The FSA published statistics on unlawful reimbursement of deposits caused by 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 they submitted.

Securities

October 16, 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. Warnings are issued to the following entities: Russell Invest Japan CO. Ltd.*, Butterfly Worldwide Trading Limited, ForexTG Pty Ltd., Orbex LIMITED, BEAUVILLON STONE LIMITED, GDCL, Gōdō Kaisha 101**, and GEM-TRADE Co., Ltd. * This business entity is fraudulently using the name and registration number of a registered company, “Russell Investments Japan Co., Ltd.” ** This corporate name, written in Roman characters, is not available in English.