What’s New on the FSA Website

Week of May 28 - June 1, 2018

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

Press Conferences

May 30, 2018	Press Conference by the Minister for Financial Services (May 25, 2018) (Available in Japanese)

Public Comments

(The following public comment is available in English)

June 1, 2018	Finalization of the Guidelines for Investor and Company Engagement

(The following public comments are available in Japanese)

June 1, 2018	Publication of the draft amendments to the “Comprehensive Guidelines for Supervision of Major Banks, etc.” and the “Comprehensive Guidelines for Supervision of Financial Instruments Business Operators, etc.”  < Summary> The FSA proposed the draft amendments to the “Comprehensive Guidelines for Supervision of Major Banks, etc.” and the “Comprehensive Guidelines for Supervision of Financial Instruments Business Operators, etc.” The proposal aims to, based on the progress in the discussion at the Financial Stability Board, set out actions that in-scope financial institutions should take to improve their resolvability. The proposal also includes technical amendments in the sections on compensation structure and monitoring of financial institutions that conduct offering of funds.
June 1, 2018	Publication of the draft amendments to the “Order for Enforcement of the Banking Act”  < Summary> The FSA proposed the draft amendments to the “Order for Enforcement of the Banking Act,” based on the outline of the FSA’s directions in terms of reviewing financial regulations in response to evolving financial environment which was published on May 9, 2018. The proposal mainly aims to provide an extension to holidays and weekends of specified bank agents and business offices of banks and bank agents. (It also aims to mitigate the rules pertaining to operational procedures taken by business offices of banks and bank agents).
May 30, 2018	Publication of the finalized amendments to the “Order for Enforcement of the Banking Act” < Summary> The FSA finalized the amendments to the “Order for Enforcement of the Banking Act,” pertaining to the enforcement of the “Act for Partial Revision of the Banking Act (Act No. 49 of 2017).” The amendments include the introduction of a registration system for electronic payment service providers. The amendments were enforced on June 1, 2018.

Press Releases

(The following press releases are available in English)

Councils

May 30, 2018	The eighth meeting of the "Study Group on the Financial System" under the Financial System Council

Banks

June 1, 2018	Overview of major banks’ financial results as of March 31, 2018
June 1, 2018	Overview of regional banks' financial results as of March 31, 2018

Others

June 1, 2018	Updated list of issuers of gift certificates in repayment procedures based on the “Payment Services Act”
May 30, 2018	Updated statistics of money lending business

(The following press releases are available in Japanese)

Banks

May 31, 2018	Figures regarding suspended repayments following the earthquake in the Kumamoto region (as of March 31, 2018) < Summary> The FSA published the number of debtors and the amount of debts for which contractual repayment has been suspended following the earthquake in the Kumamoto region, based on interviews with financial institutions in the two prefectures most heavily affected by the earthquake (Kumamoto and Ōita).
May 31, 2018	Figures regarding suspended repayments following the Great East Japan Earthquake (as of March 31, 2018)  < Summary> The FSA published the number of debtors and the amount of debts for which contractual repayment has been suspended following the Great East Japan Earthquake, based on interviews with financial institutions in the three prefectures most heavily affected by the earthquake (Iwate, Miyagi, and Fukushima).
May 30, 2018	New one-stop access to electronic payment service related information published by the FSA  < Summary> The new financial regulatory system for the “electronic payment service” has taken effect from June 1, 2018. In this regard, the FSA newly added a subpage to its website to provide one-stop access to electronic payment service related information prepared/published by the FSA, such as the information on the registration required by applicable laws and regulations for the provision of electronic payment service.

Securities

May 30, 2018

Administrative action against AK Advisers Co,Ltd. (The Kanto Local Finance Bureau)  < Summary> The Kanto Local Finance Bureau took an administrative action against AK Advisers Co,Ltd., ordering the revocation of the entity’s registration and 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.

May 30, 2018

Administrative action against HEDGE FUND BANKING CO.,LTD. (The Kanto Local Finance Bureau)  < Summary> The Kanto Local Finance Bureau took an administrative action against HEDGE FUND BANKING CO.,LTD., ordering the suspension of the entity’s business operations from May 30 to August 29, 2018 in terms of the solicitation for concluding new investment advisory contracts (inclusive of the conclusion of modification agreements that set out the increase in the advisory fee under the investment advisory contracts) and any other activities that pertain to the conclusion of new investment advisory contracts and thereby 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.

Others

May 31, 2018	The fourth project selected for “FinTech PoC (Proof-of-Concept) Hub”  < Summary> The FSA selected the fourth PoC project which fulfilled all requirements to provide its support through “FinTech PoC Hub.” (This PoC project is related to the “Comprehensive Guidelines for Supervision of Regional Financial Institutions”).
May 30, 2018	Publication of the agenda and handouts of the fifth 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 fifth 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 May 30, 2018.
May 30, 2018	Forum on promotion of funding for growing businesses in the local economy to be held on June 15, 2018, in Takamatsu City  < Summary> On June 15, 2018, the FSA will hold a forum on promotion of funding for growing businesses in the local economy in Takamatsu City, Kagawa Prefecture. Inviting stakeholders such as recently listed local companies, local startups, the stock exchange, securities firms, regional financial institutions, venture capitals, and relevant administrative authorities, this forum provides an opportunity to discuss various issues regarding capital market and to share good practices of funding for growing businesses in the local economy.