What’s New on the FSA Website

Week of October 23 - October 27, 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)

October 25, 2017:	Publication of the draft amendments to the “Comprehensive Guidelines for Supervision of Credit Guarantee Corporations” < Summary> The FSA proposed the draft amendments to the “Comprehensive Guidelines for Supervision of Credit Guarantee Corporations” in accordance with the revisions to the “Small and Medium-Sized Enterprise Credit Insurance Act (scheduled to be enforced in April 2018).”
October 24, 2017:	Publication of the draft amendments to the cabinet orders and cabinet office orders pertaining to the 2017 revision of the “Financial Instruments and Exchange Act (FIEA)” < Summary> The FSA proposed the draft amendments to the cabinet orders and cabinet office orders pertaining to the 2017 revision of the “Financial Instruments and Exchange Act (FIEA).” The proposal mainly aims to provide the detailed rules on “High-Speed Trading (HST)” (where it intends to adopt a registration system for high-speed traders) and “Fair Disclosure Rule.”
October 24, 2017:	Publication of the draft amendments to the “Cabinet Office Order on Disclosure of Corporate Affairs” < Summary> The FSA proposed the draft amendments to the “Cabinet Office Order on Disclosure of Corporate Affairs” based on the proposal presented in the Report by the “Working Group on Corporate Disclosure” of the Financial System Council, which was published in April 2016. The proposal mainly aims to use common application of the reporting contents of major shareholders status in annual securities reports and business reports.

Press Releases

(The following press releases are available in English)

International 

October 26, 2017:	Ninth Issue of the GLOPAC Newsletter
October 26, 2017:	Basel Committee on Banking Supervision (BCBS) published  the final document "Guidelines on identification and management of step-in risk"

Others

October 27, 2017:	Initial Coin Offerings (ICOs)- User and business operator warning about the risks of ICOs -
October 26, 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

October 25, 2017:

Administrative action against the Shoko Chukin Bank, Ltd. < Summary> The FSA, the MOF (Ministry of Finance), and the METI (Ministry of Economy, Trade and Industry) took an administrative action against the Shoko Chukin Bank, Ltd., ordering the improvement of its business operations pursuant to the “Shoko Chukin Bank Limited Act.” This administrative action is based on results from the on-site inspection conducted by the competent ministries with respect to the entity’s (the Shoko Chukin Bank, Ltd.’s) corporate structure in terms of compliance, business management, and internal control.

October 25, 2017:

Publication of the FSA’s Report –Progress and Assessment of the Strategic Directions and Priorities 2016-2017– < Summary> The FSA published the FSA’ Report –Progress and Assessment of the Strategic Directions and Priorities 2016-2017–. The FSA has conducted public policies and monitoring of financial institutions pursuant to the “Strategic Directions and Priorities 2016-2017” published in October 2016. The report outlines the analysis and the challenges identified through the FSA’s administration process in the program year 2016 (July 2016 to June 2017).

Others

October 27, 2017:	Request for financial measures to deal with disasters caused by Typhoon No. 21 (The Wakayama Local Finance Office of the Kinki Local Finance Bureau) (October 27, 2017) < Summary> The Wakayama Local Finance Office of the Kinki Local Finance Bureau and the Bank of Japan’s Osaka Branch issued a joint statement titled “Financial Measures to deal with disasters caused by Typhoon No. 21, 2017” to the relevant financial institutions. The statement requests financial institutions in Wakayama Prefecture to appropriately deal with victims of the disaster considering their circumstances, such as by making the repayment of deposits flexible.
October 27, 2017:	Publication of the FSA Policy Evaluation < Summary> The FSA published the evaluation report on the FSA’s policies for 2018 on its website.
October 26, 2017:	Request for financial measures to deal with disasters caused by Typhoon No. 21 (The Tsu Local Finance Office of the Tokai Local Finance Bureau) (October 26, 2017) < Summary> The Tsu Local Finance Office of the Tokai Local Finance Bureau and the Bank of Japan’s Nagoya Branch issued a joint statement titled “Financial Measures to deal with disasters caused by Typhoon No. 21, 2017” to the relevant financial institutions. The statement requests financial institutions in Mie Prefecture to appropriately deal with victims of the disaster considering their circumstances, such as by making the repayment of deposits flexible.
October 25, 2017:	Publication of the minutes and handouts of the ninth meeting of the “Working Group on Improving Banks’ Financial Intermediary Services to the Regional Corporations and Economy” < Summary> The FSA published the minutes and handouts of the ninth meeting of the “Working Group on Improving Banks’ Financial Intermediary Services to the Regional Corporations and Economy” held on May 31, 2017. The major discussion themes were as follows:   1.  Results of Questionnaires in the Customer Survey of Banks’ Intermediary Services (preliminary report) 2.  Case studies on organizational and continuous quality-improvement initiatives for financial intermediation taken by shinkin banks and federation of shinkin banks