What’s New on the FSA Website

Week of March 26 - March 31, 2018

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

Public Comments

(The following public comments are available in English)

March 30, 2018	Publication of the "Revision of the Corporate Governance Code and Establishment of Guidelines for Investor and Company Engagement"
March 30, 2018	Call for Public Comments on the "Guidelines for Investor and Company Engagement" (Draft)

 

(The following public comments are available in Japanese)

March 30, 2018

Publication of the finalized amendments to the “Comprehensive Guidelines for Supervision of Major Banks, etc.” and the “Comprehensive Guidelines for Supervision of Small- and Medium-Sized Enterprises and Regional Financial Institutions”  < Summary> The FSA finalized the amendments to the “Comprehensive Guidelines for Supervision of Major Banks, etc.” and the “Comprehensive Guidelines for Supervision of Small- and Medium-Sized Enterprises and Regional Financial Institutions.” The amendments clarify that banks and their subsidiaries may conduct recruitment services for their corporate clients. The amendments were enforced on March 31, 2018.

March 30, 2018

Publication of the finalized cabinet office order to amend the “Regulation on Accountings of Investment Corporations”  < Summary> The FSA finalized the cabinet office order to amend the “Regulation on Accountings of Investment Corporations.” The order clarifies that the foreign corporation tax incurred by overseas real estate investment shall be recorded as operating expenses on the profit and loss statement.

Press Releases

(The following press releases are available in English)

International 

March 28, 2018	Basel Committee on Banking Supervision (BCBS) published frequently asked questions (FAQ) on market risk capital requirements
March 28, 2018	Basel Committee on Banking Supervision (BCBS) published frequently asked questions (FAQ) on the Basel III standardised approach for measuring counterparty credit risk exposures
March 28, 2018	Basel Committee on Banking Supervision (BCBS) published "Revisions to the minimum capital requirements for market risk" for consultation
March 27, 2018	Basel Committee on Banking Supervision (BCBS) published consultative document "Pillar 3 disclosure requirements: regulatory treatment of accounting provisions"
March 26, 2018	The 2nd Japan-UAE Financial Cooperation Seminar Joint Press Release
March 26, 2018	Basel Committee on Banking Supervision (BCBS) published an outline of discussions at its meeting

Publication

March 28, 2018	Publication of the 176th issue of the FSA’s monthly journal, Access FSA

Others

March 30, 2018	Updated list of issuers of gift certificates in repayment procedures based on the “Payment Services Act”
March 29, 2018	Updated statistics of money lending business

(The following press releases are available in Japanese)

Councils

March 27, 2018	Publication of the agenda and handouts of the sixth meeting of the “Study Group on the Financial System” under the Financial System Council  < Summary> The FSA published the agenda and handouts of the sixth meeting of the “Study Group on the Financial System” under the Financial System Council, which was held on March 27, 2018.

Banks

March 30, 2018	Publication of the implementation report of the Business Strengthening Plans (as of September 2017)  < Summary> The FSA published the implementation report of the Business Strengthening Plans (as of September 2017) pursuant to the “Act on Special Measures for Strengthening Financial Functions.”
March 30, 2018	The implementation report regarding the Norinchukin Bank and specified agricultural and fishery cooperatives’ credit businesses enhancement scheme for the former half of their business year 2017  < Summary> The FSA published the implementation report regarding the Norinchukin Bank and specified agricultural and fishery cooperatives’ credit businesses enhancement scheme for the former half of their business year 2017. The Norinchukin Bank and the specified agricultural and fishery cooperatives are required to implement the scheme pursuant to the “Act on Enhancement and Restructuring of Credit Business Conducted by the Norinchukin Bank and Specified Agricultural and Fishery Cooperatives.”
March 30, 2018	Approval granted to The Mie Bank, Ltd. and The Daisan Bank, Ltd. for the establishment of San ju San Financial Group Inc., a bank holding company  < Summary> The FSA granted approval to The Mie Bank, Ltd. and The Daisan Bank, Ltd. for the establishment of the bank holding company “San ju San Financial Group Inc.,” which has the aforementioned banks as subsidiaries, pursuant to the “Banking Act.”
March 30, 2018	Authorization of the business restructuring plan for The Mie Bank, Ltd. and The Daisan Bank, Ltd.  < Summary> The FSA authorized and published the business restructuring plan for The Mie Bank, Ltd. and The Daisan Bank, Ltd. based on the “Industrial Competitiveness Enhancement Act.”
March 30, 2018	Approval granted to Resona Holdings, Inc. for acquiring The Minato Bank, Ltd. and Kansai Urban Banking Corporation as new subsidiaries  < Summary> The FSA granted approval to Resona Holdings, Inc. for acquiring The Minato Bank, Ltd. and Kansai Urban Banking Corporation as new subsidiaries, pursuant to the “Banking Act.”
March 30, 2018	Approval granted to Kansai Mirai Financial Group, Inc. for acquiring The Minato Bank, Ltd. and Kansai Urban Banking Corporation as new subsidiaries  < Summary> The FSA granted approval to Kansai Mirai Financial Group, Inc. for acquiring The Minato Bank, Ltd. and Kansai Urban Banking Corporation as new subsidiaries, pursuant to the “Banking Act.”
March 27, 2018	Publication of an outline of key comments from a series of nationwide dialogues with relevant parties regarding the draft “JFSA’s supervisory approaches –Replacing checklists with engagement –”  < Summary> The FSA published an outline of key comments from a series of nationwide dialogues with relevant parties inclusive of financial institutions, audit firms, and officials of local finance bureaus regarding the draft “JFSA’s supervisory approaches –Replacing checklists with engagement –.” The dialogues were held during the period from December 2017 through February 2018 in which the draft was subject to public consultation. Besides the key comments from relevant parties, the outline also introduces self-regulatory initiatives and approaches taken by respective financial institutions and audit firms to ensure/promote best practices mainly in terms of implementing self-assessment, write-offs, and loan loss provisions.

Securities

March 30, 2018	Publication of statistics regarding over-the-counter (OTC) derivative transactions (as of March 31, 2017)  < Summary> The FSA published the over-the-counter (OTC) derivatives report as of March 31, 2017, pursuant to the “Financial Instruments and Exchange Act.” This report aggregated the OTC derivatives transactions data reported from the financial instruments business operators in Japan.
March 29, 2018	Updated lists of entities that are operating financial instruments businesses without proper registration (The Kanto Local Finance Bureau)  < Summary> The FSA and the Kanto Local Finance Bureau issued warnings to entities that are operating financial instruments businesses without proper registration. (See updated lists of Japan-based entities and foreign-based entities).

Insurance

March 31, 2018

Publication of the updated “Order for Enforcement of the Insurance Business Act” and the “Ordinance for Enforcement of the Insurance Business Act” in accordance with the enforcement of the “Act for Partial Revision of the Insurance Business Act”  < Summary> The FSA published the updated “Order for Enforcement of the Insurance Business Act” and the “Ordinance for Enforcement of the Insurance Business Act” in accordance with the enforcement of the “Act for Partial Revision on the Banking Act.” The Order and the Ordinance have come into effect since the updates were enforced on April 1, 2018.

Others

March 30, 2018	Publication of the “Matters which Require Verification” in remittance transactions  < Summary> The prevention of money laundering and terrorism financing is a vital issue to be addressed from the standpoint of sustaining the soundness of Japan’s financial system, in which it is required to strengthen the structure by collaborating with the private sectors amid the growing threat of terrorism in the international community. In this context, the FSA has published the “Guidelines for Anti-Money Laundering and Combating the Financing of Terrorism.” From the perspective that financial institutions ensure the implementation and promotion of the effective prevention of money laundering and terrorism financing, the FSA gathered excerpts from the Guidelines and made an outline of basic matters which require verification particularly in remittance transactions, and sent the outline to respective financial institutions.
March 30, 2018	Development of the FSA’s facilitation scheme for online administrative procedure  < Summary> The FSA published the development of its facilitation scheme for online administrative procedure as of March 31, 2017, pursuant to Article 10 of the “Act on Utilization of Information and Communication Technology in Administrative Procedure.”
March 30, 2018	Publication of the FSA’s inventory results from the inventory processing of the (administrative procedures related) information held by administrative organs  < Summary> The FSA published its inventory results from the inventory processing of the (administrative procedures related) information held by administrative organs in accordance with the “Declaration to Be the World’s Most Advanced IT Nation – Basic Plan for the Advancement of Public and Private Sector Data Utilization” (Cabinet decision on May 30, 2017) and the “Growth Strategy 2017” (Cabinet Decision on June 9, 2017).
March 30, 2018	Publication of the updated “Expert Column,” a subpage of the “NISA Official Promotion Webpage,” with a new article (vol.17) contributed by an external expert < Summary> The FSA published the updated “Expert Column,” a subpage of the “NISA Official Promotion Webpage,” with a new article (vol.17) contributed by an external expert.
March 30, 2018	Publication of the “Manual on the Consultation on Multiple Debts Problems Associated with Gambling Addictions (provisional English title)”  < Summary> Based on the “Strengthening of Preventive Measures for Gambling Addictions (provisional English title)” (Cabinet decision in August 2017), the Consumer Affairs Agency (CAA) and the FSA jointly published the “Manual on the Consultation on Multiple Debts Problems Associated with Gambling Addictions (provisional English title)” from the perspective of preventing gambling addictions. The Manual presents a specific and practical scheme for the officials of the CAA and the FSA to collaborate with relevant consultation contacts as well as the updated approaches to implement consultations.
March 29, 2018	Publication of the agenda and handouts of the third meeting of the “Council of Experts on Managing Settlement Risks of Foreign Exchange (FX) Transactions for Over-the-Counter (OTC) FX Brokers”  < Summary> The FSA published the agenda and handouts of the third meeting of the “Council of Experts on Managing Settlement Risks of Foreign Exchange (FX) Transactions for Over-the-Counter (OTC) FX Brokers,” which was held on March 29, 2018.