FSA Weekly Review No.190 April 7, 2016

What’s New on the FSA Website

Week of March 28 – April 1, 2016

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

Press Conferences

April 1, 2016: Press Conference by the Minister for Financial Services (March 29, 2016) (Available in Japaneseopen new window)
March 28, 2016: Press Conference by the Minister for Financial Services (March 25, 2016) (Available in Japaneseopen new window)

Public Comments

(The following public comments are available in Japanese)

March 31, 2016: Publication of the finalized rules on Margin Requirements for Non-Centrally Cleared OTC derivativesopen new window
«Summary»
The FSA finalized the amendments to the “Cabinet Office Ordinance on Financial Instruments Business,” Supervisory Guidelines, and regulatory notices to implement Margin Requirements for Non-Centrally Cleared OTC derivatives based on the BCBS/IOSCO framework. The rules will be enforced from September 1, 2016 onwards.
March 30, 2016: Publication of the finalized amendments to the “Ordinance for the Enforcement of the Banking Act” reflecting the amendments to the format of documentsopen new window
«Summary»
The FSA finalized the amendments to the “Ordinance for the Enforcement of the Banking Act” reflecting the amendments to the format of documents for filing. The Ordinance was enforced on March 31, 2016. (Certain provisions were enforced on April 1, 2016).
March 29, 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 Agricultural Cooperatives Act”open new window
«Summary»
The FSA finalized the amendments to the “Ordinance for the Enforcement of the Banking Act” pertaining to the enforcement of the “Act on the Partial Revision of the Agricultural Cooperatives Act (Act No. 63 of 2015).” The Ordinance was enforced on April 1, 2016.
March 28, 2016: Publication of the finalized amendments to the “Ordinance for Enforcement of the Insurance Business Act”open new window
«Summary»
The FSA finalized the amendments to the “Ordinance for Enforcement of the Insurance Business Act.” The amendments include the calculation of the solvency margin ratio. The Ordinance was enforced on March 31, 2016.

Press Releases

(The following press releases are available in English)

International

April 1, 2016: Establishment of the Global Financial Partnership Center (GLOPAC)
April 1, 2016: PDFThe meeting of Financial Stability Board on March 30-31, 2016open new window

Banks

March 31, 2016: Update on measures taken in response to the Great East Japan Earthquake (as of March 31, 2016)

Others

April 1, 2016: Updated list of issuers of gift certificates in repayment procedures based on the “Payment Services Act”
March 30, 2016: Updated statistics of money lending business

(The following press releases are available in Japanese)

Banks

March 31, 2016: Approval of the establishment of Concordia Financial Group, Ltd., a bank holding companyopen new window
«Summary»
The FSA approved the establishment of the bank holding company “Concordia Financial Group, Ltd.,” which has The Bank of Yokohama, Ltd., and The Higashi-Nippon Bank, Limited as subsidiaries, pursuant to the “Banking Act.”
March 31, 2016: Authorization of the business restructuring plan for The Bank of Yokohama, Ltd., and The Higashi-Nippon Bank, Limitedopen new window
«Summary»
The FSA authorized and published the business restructuring plan for The Bank of Yokohama, Ltd., and The Higashi-Nippon Bank, Limited based on the “Industrial Competitiveness Enhancement Act.”
March 29, 2016: Approval granted to TOMONY Holdings, Inc., for acquiring THE TAISHO BANK, LTD. as a new subsidiaryopen new window
«Summary»
The FSA granted approval to TOMONY Holdings, Inc., for acquiring THE TAISHO BANK, LTD. as a new subsidiary, pursuant to the “Banking Act.”
March 29, 2016: Approval granted to Tokyo TY Financial Group, Inc., for acquiring ShinGinko Tokyo, Limited as a new subsidiaryopen new window
«Summary»
The FSA granted approval to Tokyo TY Financial Group, Inc., for acquiring ShinGinko Tokyo, Limited as a new subsidiary, pursuant to the “Banking Act.”

Securities

April 1, 2016: Administrative penalty charges against two individuals for committing insider trading regarding stocks of EMORI GROUP HOLDINGS CO., LTD. (1)open new window (2)open new window
«Summary»
The FSA issued orders to impose administrative penalty charges against two individuals for committing insider trading of stocks of EMORI GROUP HOLDINGS CO., LTD.*, by using information received from an officer of the entity.

*The entity was delisted on May 31, 2015.

April 1, 2016: Updated lists of entities that are operating financial instruments businesses without proper registration (Kanto Local Finance Bureau)open new window
«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 PDFJapan-based entitiesopen new window and PDFforeign-based entitiesopen new window).
March 29, 2016: Administrative action against Premiere Securities Co., Ltd. (Kanto Local Finance Bureau)open new window
«Summary»
The Kanto Local Finance Bureau took an administrative action against Premiere Securities Co., Ltd., requiring the entity to improve its operations, pursuant to the “Financial Instruments and Exchange Act (FIEA).”
This administrative action is based on a recommendation from the Securities and Exchange Surveillance Commission (SESC) as a result of their on-site inspection.
March 29, 2016: Administrative action against TOGAKU Securities Co., Ltd. (Kanto Local Finance Bureau)open new window
«Summary»
The Kanto Local Finance Bureau took an administrative action against TOGAKU Securities Co., Ltd., requiring the entity to improve its operations, pursuant to the “Financial Instruments and Exchange Act (FIEA).”
This administrative action is based on a recommendation from the Securities and Exchange Surveillance Commission (SESC) as a result of their on-site inspection.

Others

April 1, 2016: Announcement of personnel changes (announced April 1, 2016)open new window
April 1, 2016: Publication of the updated “Cabinet Office Ordinance on Disclosure of Corporate Affairs”open new window
«Summary»
The FSA published the updated “Cabinet Office Ordinance on Disclosure of Corporate Affairs,” “Cabinet Office Ordinance on Disclosure of Information on Issuers of Foreign Government Bonds,” and “Cabinet Office Ordinance on Disclosure of Information of Regulated Securities,” pertaining to the enforcement of the “Act for Partial Revision of the Local Autonomy Act.” The Cabinet Office ordinances were enforced on April 1, 2016.
March 31, 2016: Notification of business discontinuance of a foreign audit firmopen new window
«Summary»
The FSA published the notification of the discontinuance of business submitted by a foreign audit firm, BDO LLP, pursuant to the “Certified Public Accountants Act.”
March 31, 2016: Publication of the updated “Examples of consolidated financial statements based on the International Financial Reporting Standards”open new window
«Summary»
Following “Japan Revitalization Strategy 2015” (which was approved by the Cabinet on June 30, 2015), the FSA published the updated “Examples of consolidated financial statements based on the International Financial Reporting Standards” which will serve as a reference for entities in preparing consolidated financial statements.
March 29, 2016: Publication of the updated FSA Civil Protection Planopen new window
«Summary»
The FSA published the updated FSA Civil Protection Plan pursuant to the “Act Concerning the Measures for Protection of the People in Armed Attack Situations.”

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