What’s New on the FSA Website

Week of September 19 - September 22, 2017

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

Press Releases

(The following press releases are available in English)

International 

September 22, 2017:	International Organization of Securities Commissions (IOSCO) Asia-Pacific Regional Committee (APRC) appointed the new Chairman
September 21, 2017:	Comment Letter on the Volcker Rule
September 21, 2017:	Basel Committee on Banking Supervision (BCBS) updated "Basel III definition of capital – Frequently asked questions"
September 21, 2017:	[Joint Media Release]Financial regulators of Japan and Abu Dhabi Global Market cooperate on FinTech

Others

September 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)

Others

September 22, 2017:	Administrative action against ASKA&CO. < Summary> The FSA took an administrative action against ASKA&CO., ordering the suspension of its business (from accepting new business engagements) for three months from September 25 to December 24, 2017 and the improvement of its business operations, pursuant to Article 34-21(2) (ⅱ) of the “Certified Public Accountants Act.” The reason for the action is that partners of the entity had, in negligence of due care, attested the financial statements of MediBIC Group in the fiscal year ending December 31, 2014 contained no material misstatement, when in fact the statements contained material misstatements.
September 21, 2017:	Establishment of “FinTech PoC (Proof-of-Concept) Hub” < Summary> The FSA established “FinTech PoC (Proof-of-Concept) Hub” to eliminate the hesitation and concern that FinTech firms and financial institutions are inclined to have in conducting unprecedented tests. The Hub will offer continuous support in cooperation with other relevant authorities as necessary by forming a special working team within the FSA for each selected PoC project.
September 19, 2017:	Request for financial measures to deal with disasters caused by Typhoon No. 18 (Ōita Local Finance Office of the Kyushu Local Finance Bureau) (September 19, 2017) < Summary> The Ōita Local Finance Office of the Kyushu Local Finance Bureau and the Bank of Japan’s Ōita branch issued joint statements of “Financial Measures to deal with disasters caused by Typhoon No.18” to the relevant financial institutions. The statement requests financial institutions in Saiki City and Tsukumi City in Ōita Prefecture to appropriately deal with victims of the disaster considering their circumstances, such as by making the repayment of deposits flexible.