Financial Services AgencyFSA Weekly Review No.249

June 29, 2017

What’s New on the FSA Website

Week of June 19 - June 23, 2017

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

Public Comments

(The following public comments are available in Japanese)

June 23, 2017: Publication of the draft amendments to regulatory notices pertaining to capital adequacy ratio regulation (the third pillar)open new window
< Summary>
The FSA proposed the draft amendments to the regulatory notices and guidelines pertaining to disclosure requirements regarding capital adequacy ratio. The proposal is to implement the revisions of the BCBS Pillar III disclosure requirements for internationally active banks.
June 23, 2017: Publication of the draft amendments to the “Comprehensive Guidelines for Supervision of Major Banks, etc.” and the “Comprehensive Guidelines for Supervision of Small- and Medium-Sized and Regional Financial Institutions”open new window
< Summary>
The FSA proposed the draft amendments to the “Comprehensive Guidelines for Supervision of Major Banks, etc.” and the “Comprehensive Guidelines for Supervision of Small- and Medium-Sized and Regional Financial Institutions.” The proposal pertains to banks’ ancillary business.

Press Releases

(The following press releases are available in English)

International 

June 23, 2017: [Joint Media Release]Japan and Australia cooperate on fintech


Others

June 22, 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

June 20, 2017: Report on measures for the resolution of failed financial institutionsopen new window
< Summary>
The FSA submitted to the National Diet a report on 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 October 1, 2016, and March 31, 2017.
June 19, 2017: License granted to E.SUN Commercial Bank, Ltd., Tokyo Branch to conduct banking businessopen new window
< Summary>
The FSA granted a license to E.SUN Commercial Bank, Ltd., Tokyo Branch to conduct banking business pursuant to the “Banking Act.”
June 19, 2017: License granted to Taiwan Business Bank, Ltd., Tokyo Branch to conduct banking businessopen new window
< Summary>
The FSA granted a license to Taiwan Business Bank, Ltd., Tokyo Branch to conduct banking business pursuant to the “Banking Act.”
June 19, 2017: Approval of the applications by the JAPAN POST BANK Co., Ltd. and the JAPAN POST INSURANCE Co., Ltd. (Kampo)open new window
< Summary>
The FSA and the Ministry of Internal Affairs and Communications approved the applications by the JAPAN POST BANK Co., Ltd. and the JAPAN POST INSURANCE Co., Ltd. (Kampo) regarding their new businesses, pursuant to the “Postal Service Privatization Act.”


Securities

June 23, 2017: Administrative action against Kabushiki Kaisha RISE (Tokai Local Finance Bureau)open new window
< Summary>
The Tokai Local Finance Bureau took an administrative action against Kabushiki Kaisha RISE*, ordering the improvement of its business operations pursuant to the “Financial Instruments and Exchange Act.” This administrative action is based on a recommendation from the Securities and Exchange Surveillance Commission (SESC) as a result of its on-site inspection.

* This corporate name is not available in English and is the Romanized version of its Japanese name.

June 21, 2017: 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).
June 20, 2017: Administrative actions against the notifiers of specially permitted business for qualified institutional investors (SPBQII) with whom the Kanto Local Finance Bureau cannot make contactopen new window
< Summary>
The Kanto Local Finance Bureau took administrative actions against the two notifiers of specially permitted business for qualified institutional investors (SPBQII) with whom the Kanto Local Finance Bureau cannot make contact, ordering the abolition of the notifiers’ entire specially permitted businesses for qualified institutional investors and the improvement of their business operations pursuant to the “Financial Instruments and Exchange Act.”
June 20, 2017: Administrative actions against the four notifiers of specially permitted business for qualified institutional investors (SPBQII) who failed to meet the statutory deadline for filing the required notifications to the authoritiesopen new window
< Summary>
The Kanto Local Finance Bureau took administrative actions against the four notifiers of specially permitted business for qualified institutional investors (SPBQII) who failed to meet the statutory deadline for filing the required notifications to Kanto Local Financial Bureau, ordering the improvement of their business operations pursuant to the “Financial Instruments and Exchange Act.”


Others

June 23, 2017: Publication of the results of the policy evaluation for FY 2015open new window
< Summary>
Pursuant to the “Government Policy Evaluations Act,” all Ministries and Agencies are required to conduct annual policy reviews and reflect the results to improve their policies in order to realize an efficient, high-quality, and results-oriented government administration.
The FSA published the results of the policy evaluation for FY 2015.
June 21, 2017: Establishment of the “Study Group on Online Trading in the Age of FinTech”open new window
< Summary>
The FinTech Association Japan (FAJ), the Japan Association of New Economy (JANE), and the FSA have jointly established the “Study Group on Online Trading in the Age of FinTech.” The study group aims to discuss and study various issues regarding online trading in the age of FinTech, such as seeking ways of designing efficient methods of customer identification, while the study group’s members deepen their awareness of issues.
June 19, 2017: Publication of the agenda and handouts of the 53rd Meeting of the Financial Service ADR (Alternative Dispute Resolution) Liaison Groupopen new window
< Summary>
The FSA published the agenda and handouts of the 53rd Meeting of the Financial Service ADR Liaison Group, which was held on June 19, 2017.

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