What’s New on the FSA Website

Week of June 27 – July 1, 2016

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

Press Conferences

June 29, 2016:	Press Conference by the Minister for Financial Services (June 28, 2016) (Available in Japanese)

Public Comments

(The following public comments are available in Japanese)

June 30, 2016:	Publication of the finalized amendments to the “Cabinet Office Ordinance on Financial Instruments Business” «Summary» The FSA finalized the amendments to the “Cabinet Office Ordinance on Financial Instruments Business.” The amendments allow the following: Credit card settlement in equity crowdfunding transactions when certain requirements are fulfilled. Omission of issuing “documents for delivery upon conclusion of contract” for discretionary investment account transactions when the client’s prior agreement is obtained.
June 28, 2016:	Publication of a draft order to amend the “Ordinance for Enforcement of the Deposit Insurance Act” «Summary» The FSA proposed a draft order to amend the “Ordinance for Enforcement of the Deposit Insurance Act.” The proposal is to allow the Deposit Insurance Corporation of Japan to identify names by using Individual Number in case of failure of financial institutions, from the perspective of deposit protection.
June 27, 2016:	Publication of the finalized amendment to the regulatory notice designating transactions and lending/borrowing to be excluded from the transactions subject to the regulations on “Financial Instruments Obligation Assumption Business” «Summary» The FSA finalized an amendment to the regulatory notice designating transactions and lending/borrowing to be excluded from the transactions subject to the regulations on “Financial Instruments Obligation Assumption Business” based on the “Order for Enforcement of the Financial Instrument and Exchange Act.” The amendment extends the applicable period (date of expiration) of the current regulatory notice from June 30, 2016 to December 31, 2016.

Press Releases

(The following press releases are available in English)

International

June 30, 2016:	Fifth Issue of the GLOPAC Newsletter

Banks

June 30, 2016:	Update on measures taken in response to the Great East Japan Earthquake (as of June 30, 2016)

Others

July 1, 2016:	Updated list of issuers of gift certificates in repayment procedures based on the “Payment Services Act”
June 29, 2016:	Updated statistics of money lending business

(The following press releases are available in Japanese)

Banks

June 30, 2016:

Publication of the updated “Ordinance for the Enforcement of the Banking Act”, Supervisory Guidelines, and Financial Inspection Manual, pertaining to the enforcement of the “Act on Partial Revision of the Act for Facilitating New Business Activities of Small and Medium-sized Enterprises” «Summary» The FSA published the updated Cabinet Office Ordinances (including the “Ordinance for the Enforcement of the Banking Act”), regulatory notice, Supervisory Guidelines, and Supplement to the Financial Inspection Manual for Deposit-Taking Institutions (Treatment of Classifications Regarding Credit to Small and Medium-Sized Enterprises), pertaining to the enforcement of the “Act on Partial Revision of the Act for Facilitating New Business Activities of Small and Medium-sized Enterprises.” The Cabinet Office Ordinances, regulatory notice, Supervisory Guidelines, and Financial Inspection Manual, were enforced on July 1, 2016.

June 30, 2016:

Publication of a progress report on Business Revitalization Plans «Summary» The FSA published a report on the progress of business revitalization by Shinsei Bank Ltd. as of March 2016, pursuant to the “Act on Emergency Measures for Early Strengthening of Financial Functions” and the “Deposit Insurance Act.”

Securities

July 1, 2016:

The first trial of an administrative penalty case against Select Vantage Inc. for market manipulation regarding stocks of Japan Drilling Co., Ltd. and 44 other entities «Summary» On July 6, 2016, the first trial of an administrative penalty case against Select Vantage Inc. for market manipulation regarding stocks of Japan Drilling Co., Ltd. and 44 other entities was conducted.

June 30, 2016:

Publication of financial instruments businesses that conducted large-scale OTC derivative transactions in FY2015 «Summary» The FSA published the list of financial instruments businesses whose average monthly total notional principal amount of OTC derivative transactions in FY2015 was 300 billion yen or more, complying with the “Cabinet Office Ordinance on Restrictions on Over-the-Counter Derivatives Transactions.”

Others

July 1, 2016:

Announcement of personnel changes (announced July 1, 2016)

June 30, 2016:

Publication of the level of remuneration paid to officers of special public corporations and authorized corporations «Summary» The FSA published the level of remuneration paid to the officers of the special public corporations: Deposit Insurance Corporation of Japan and Banks’ Shareholdings Purchase Corporation. The list is published pursuant to “Key Policies for Administrative Reforms” (Cabinet decision in December 24, 2005), which mandated that each special public and authorized corporation and its governing ministers compare the level of remuneration paid to its officers with that of national public officials (the Laspeyres index) and publish the results.