What’s New on the FSA Website

Week of December 7 – December 11, 2015

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

Press Conferences

December 9, 2015:	Press Conference by the Minister for Financial Services (December 8, 2015) Japanese version
December 7, 2015:	Press Conference by the Minister for Financial Services (December 4, 2015) (Available in Japanese)

Public Comments

(The following public comments are available in Japanese)

December 11, 2015:

Publication of the second consultation on the revised rule on Margin Requirements for Non-Centrally Cleared OTC derivatives «Summary» Reflecting the public comments collected from July 3, 2014 to August 4, 2014, the FSA published the second consultation on the “Cabinet Office Ordinance on Financial Instruments Business” and “Comprehensive Guidelines for Supervision of Major Banks” in order to introduce the margin requirements for non-centrally cleared OTC derivatives following the BCBS/IOSCO agreement. The FSA also proposed a draft regulatory notice on the calculation of potential future exposure based on the proposed cabinet office ordinance. The proposals for public comments extend from December 11, 2015 to January 12, 2016. The proposals reflecting the results of public comments will be enforced from September 1, 2016.

December 10, 2015:

Publication of finalized amendments to the “Comprehensive Guidelines for Supervision of Financial Market Infrastructures - Clearing Organizations, Fund Clearing Organizations, Book-entry Transfer Institutions, and Trade Repositories” «Summary» The FSA finalized amendments to the “Comprehensive Guidelines for Supervision of Financial Market Infrastructures - Clearing Organizations, Fund Clearing Organizations, Book-entry Transfer Institutions, and Trade Repositories.” The guidelines have been enforced since December 10, 2015. No change has been made to the proposed draft released on October 27, 2015. The amendments clarify major supervisory viewpoints pertaining to disclosure of financial market infrastructures, based on the CPSS-IOSCO’s “Principles for financial market infrastructures” with its supplementary document, the “Disclosure framework and Assessment methodology,” in addition to the CPMI-IOSCO’s “Public quantitative disclosure standards for central counterparties (CCPs).”

Press Releases

(The following press releases are available in English)

International

December 11, 2015:	Basel Committee on Banking Supervision published the second consultative document “Revisions to the Standardized Approach for credit risk”
December 9, 2015:	Fourth Issue of the AFPAC Newsletter

Councils

December 10, 2015:	The ninth meeting of the Working Group on Financial Group of the Financial System Council (December 16th, 2015)

Others

December 11, 2015:	Updated list of issuers of gift certificates in repayment procedures based on the “Payment Services Act”
December 11, 2015:	Publication of the summary of the second meeting of the Advisory Council on the Systems of Accounting and Auditing

(The following press releases are available in Japanese)

Banks

December 11, 2015:

Report on the measures for the resolution of failed financial institutions «Summary» On December 11, 2015, the FSA submitted to the National Diet a report on the measures for the resolution of failed financial institutions (the FRC report) pursuant to the “Act on Emergency Measures for the Revitalization of the Financial Functions.” The report covers developments between April 1, 2015, and September 30, 2015.

Securities

December 7, 2015:	Updated list of qualified institutional investors engaging in specially permitted businesses who provided false information to their customers (Kanto Local Finance Bureau) «Summary» The FSA (Kanto Local Finance Bureau) issued a warning to SRI Brain Co., Ltd., a qualified institutional investor, for engaging in a specially permitted business that provided false information to its customers.

Others

December 15, 2015:	The fourth meeting of the Council of Experts Concerning the Follow-up of Japan’s Stewardship Code and Japan’s Corporate Governance Code to be held on December 22, 2015 «Summary» On December 22, 2015, the FSA will hold its fourth meeting of the Council of Experts Concerning the Follow-up of Japan’s Stewardship Code and Japan’s Corporate Governance Code.
December 14, 2015:	Establishment of “FinTech Support Desk” «Summary» The FSA established “FinTech Support Desk” as a one-stop contact point for inquiries and opinions pertaining to businesses involving FinTech in relation to Japan’s financial business environment. The FSA aims to enhance financial innovation through FinTech. Please contact us at +81-(0)3-3506-7080 (09:30 – 18:15, JST), or at fintech@fsa.go.jp.
December 11, 2015:	Administrative action against Jinchi Audit Corporation «Summary» On December 11, 2015, the FSA issued an administrative order to Jinchi Audit Corporation, requiring the firm to improve its operations, 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 require improvement.
December 8, 2015:	Warnings about entities that are operating money lending businesses without proper registration «Summary» The FSA (Local Finance Bureaus) updated its warnings about entities that are operating money lending businesses without proper registration. The warnings include the updated list of entities that misrepresent their registration using fictitious or stolen registration numbers. Following entities were added to the list: Kabushiki Kaisha Jasu Financial Group* Kabushiki Kaisha Shintoshi Kigyō Center* Orange Life Kabushiki Kaisha* *These corporate names written in Roman characters are not available in English.
December 8, 2015:	The sixth Consultation Meeting in relation to the Multiple Debt Problem and Consumer Finance «Summary» On December 15, 2015, the FSA and the Consumer Affairs Agency jointly held the sixth Consultation Meeting relating to the Multiple Debt Problem and Consumer Finance. The consultation meeting was held to follow up the status on lenders and borrowers as part of the measures based on the “Program to Remedy the Multiple Debt Problem.”