What’s New on the FSA Website

Week of April 3 - April 7, 2017

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

Press Conferences

April 4, 2017:	Press Conference by the Minister for Financial Services (March 28, 2017) Japanese version
April 4, 2017:	Press Conference by the Minister for Financial Services (March 24, 2017) (Available in Japanese)

Public Comments

(The following public comment is available in English)

April 7, 2017:	Publication of the draft of the “Principles for Responsible Institutional Investors” - To promote sustainable growth of companies through investment and dialogue -

Press Releases

(The following press releases are available in English)

International

April 6, 2017:	Basel Committee on Banking Supervision published a consultative document "Global systemically important banks – revised assessment framework"
April 6, 2017:	Basel Committee on Banking Supervision published "Regulatory treatment of accounting provisions - interim approach and transitional arrangements"
April 6, 2017:	Basel Committee on Banking Supervision published "Pillar 3 disclosure requirements – consolidated and enhanced framework"
April 6, 2017:	Basel Committee on Banking Supervision published "Progress in adopting the Principles for effective risk data aggregation and risk reporting"

Publication

April 3, 2017:	Publication of the 164th issue of the FSA’s monthly journal, Access FSA

Others

April 6, 2017:	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

April 7, 2017:

Publication of a revised reference casebook (revised edition as of April 2017) on the “Guidelines for Personal Guarantee Provided by Business Owners” < Summary> The FSA published a revised reference casebook (revised edition as of April 2017) to promote favorable practices by financial institutions in utilizing the “Guidelines for Personal Guarantee Provided by Business Owners,” in which new favorable practices taken by financial institutions were added.

Securities

April 5, 2017:

Administrative action against Fund Creation RM Co., Ltd.  (Kanto Local Finance Bureau) < Summary> The Kanto Local Finance Bureau took an administrative action against Fund Creation RM Co., Ltd. (for conducting problematic business operations from an investor protection perspective), ordering the improvement of its business operations, pursuant to the “Financial Instruments and Exchange Act.” This administrative action is based on recommendation from the Securities and Exchange Surveillance Commission (SESC) as a result of their on-site inspection.

Insurance

April 3, 2017:	License granted to SCOR Global Life SE to conduct foreign non-life insurance business < Summary> The FSA granted a license to SCOR Global Life SE to conduct foreign non-life insurance business pursuant to the “Insurance Business Act.”

Others

April 6, 2017:	Signing of IFIAR’s (International Forum of Independent Audit Regulators’) “Multilateral Memorandum of Understanding concerning Co-operation in the Exchange of Information for Audit Oversight” < Summary> On April 4, 2017, the FSA and the CPAAOB (Certified Public Accountants and Auditing Oversight Board) signed IFIAR’s “MMOU (Multilateral Memorandum of Understanding concerning Co-operation in the Exchange of Information for Audit Oversight)” at the IFIAR plenary meeting in Tokyo. On this occasion, 22 IFIAR Members have signed the MMOU and have become signatory regulators. The MMOU facilitates co-operation in the exchange of information for audit oversight among signatory regulators.
April 4, 2017:	Opening of IFIAR (International Forum of Independent Audit Regulators) Permanent Secretariat, the first headquarters of a global forum for financial regulation in Japan < Summary> IFIAR (International Forum of Independent Audit Regulators) Permanent Secretariat has opened in Tokyo in April 2017. An opening ceremony was also held for celebrating the establishment of the permanent Secretariat.
April 3, 2017:	Publication of a brochure titled “Virtual Currency Regulation Takes Effect from April 2017 Onwards” < Summary> Subsequent to the amendments made to the “Payment Services Act” by legislation of the “Act for Partial Revision of the Banking Act (Act No.62 of 2017)” as of May 2016, which aims to respond to the environmental changes involving IT development, the virtual currency regulation has taken effect from April 1, 2017. In this context, the FSA published a brochure titled “Virtual Currency Regulation Takes Effect from April 2017 Onwards” to introduce the new regulatory framework. (Brochures are only available in Japanese).