What’s New on the FSA Website

Week of March 7 – March 11, 2016

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

Press Conferences

March 9, 2016:	Press Conference by the Minister for Financial Services (March 8, 2016) (Available in Japanese)
March 7, 2016:	Press Conference by the Minister for Financial Services (March 4, 2016) Japanese version

Public Comments

(The following public comment is available in Japanese)

March 9, 2016:

Publication of the finalized amendments to the “Ordinance for the Enforcement of the Banking Act” pertaining to the enforcement of the “Act on the Partial Revision of the Electricity Business Act” «Summary» The FSA finalized amendments to the “Ordinance for the Enforcement of the Banking Act” pertaining to the enforcement of the “Act on the Partial Revision of the Electricity Business Act” (Act No. 72 of 2014). The Ordinance will be enforced on April 1, 2016.

Press Releases

(The following press releases are available in English)

International

March 9, 2016:	Public Statement by the Financial Action Task Force (FATF)
March 7, 2016:	Basel Committee on Banking Supervision published the second Consultative Document “Standardised Measurement Approach for operational risk”

Councils

March 9, 2016:	The fourth meeting of the Working Group on Corporate Disclosure of the Financial System Council

Others

March 11, 2016:	Updated list of issuers of gift certificates in repayment procedures based on the “Payment Services Act”

(The following press releases are available in Japanese)

Banks

March 11, 2016:

Publication of updated regulatory notices pertaining to the BCBS Pillar III disclosure requirements «Summary» The FSA updated the regulatory notices pertaining to the BCBS Pillar III disclosure requirements. The updates pertain to the technical adjustment of the definition. The updates will be enforced on March 31, 2016. In addition, the FSA published additional FAQs regarding capital adequacy ratio.

Securities

March 11, 2016:	Updated lists of entities that are operating financial instruments businesses without proper registration (Kanto Local Finance Bureau) «Summary» The FSA and the Kanto Local Finance Bureau issued warnings to entities that are operating financial instruments businesses without proper registration. (cf. updated lists of Japan-based entities and foreign-based entities).

Insurance

March 11, 2016:

Approval of the application by Japan Post Insurance Co., Ltd. (Kampo) «Summary» On March 11, 2016, the FSA and the Ministry of Internal Affairs and Communications (MIC) approved the application by Japan Post Insurance Co., Ltd. (Kampo) in terms of its businesses, pursuant to the “Postal Service Privatization Act.” The approval includes the underwriting of reinsurance that complies with the Insurance Business Act and fulfills certain conditions.

Others

March 11, 2016:	Joint notification of the financial measures regarding the UN Security Council’s resolution 2270 (2016) «Summary» The FSA notified with related ministries and an agency the financial measures based on the UN Security Council’s resolution 2270 (2016) imposing the sanctions on Democratic People’s Republic of Korea (DPRK). The FSA requested financial institutions to take measures, including an asset freeze, against the individuals or entities associated with the DPRK’s nuclear or ballistic missile programme or any other prohibited activities.
March 8, 2016:	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.
March 8, 2016:	Publication of the recommendation of the Advisory Council on the Systems of Accounting and Auditing «Summary» The FSA published the recommendation of the Advisory Council on the Systems of Accounting and Auditing. The recommendation summarized the discussion of the four sessions held between October 2015 and March 2016 regarding the measures to ensure credibility of accounting and auditing.