What’s New on the FSA Website

Week of June 18 - June 22, 2018

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

Press Conferences

June 19, 2018	Press Conference by the Minister for Financial Services (June 15, 2018) (Available in Japanese)

Public Comments

(The following public comments are available in Japanese)

June 22, 2018

Publication of the finalized cabinet office order to amend the “Rules on Registration of Certified Public Accountants”  < Summary> The FSA finalized the cabinet office order to amend the “Rules on Registration of Certified Public Accountants.” To mitigate the burden of an applicant in filing an application for registration as a certified public accountant, the amendments mainly clarify that an applicant is not required to submit a transcript of the family register unless he/she is subject to certain conditions. The order was enforced on June 22, 2018.

June 18, 2018

Publication of the draft amendments to the regulatory notices and guidelines pertaining to Pillar 3 disclosure requirements for internationally active banks regarding the capital adequacy  < Summary> The FSA proposed the draft amendments to the regulatory notices and guidelines pertaining to disclosure requirements for internationally active banks regarding the capital adequacy. The proposal mainly aims to update the disclosure requirements with respect to G-SIBs (global systemically important banks) and CCyB (countercyclical capital buffer) based on the BCBS Standards: Pillar 3 disclosure requirements – consolidated and enhanced framework which was published in March 2017.

Press Releases

(The following press releases are available in English)

Councils

June 19, 2018	Publication of the Interim Note by the “Study Group on the Financial System” under the Financial System Council
June 19, 2018	The eighth meeting of the Working Group on Corporate Disclosure of the Financial System Council

Others

June ２1, 2018	Updated list of issuers of gift certificates in repayment procedures based on the “Payment Services Act”

(The following press releases are available in Japanese)

Councils

June ２1, 2018	Publication of the agenda and handouts of the eighth meeting of the “Working Group on Corporate Disclosure” of the Financial System Council  < Summary> The FSA published the agenda and handouts of the eighth meeting of the “Working Group on Corporate Disclosure” of the Financial System Council, which was held on June 22, 2018.
June 18, 2018	Publication of the agenda and handouts of the ninth meeting of the “Study Group on the Financial System” under the Financial System Council  < Summary> The FSA published the agenda and handouts of the ninth meeting of the “Study Group on the Financial System” under the Financial System Council, which was held on June 18, 2018.

Banks

June 22, 2018	Report on measures for the resolution of failed financial institutions  < 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, 2017 and March 31, 2018.

Others

June 22, 2018	Administrative action against QUOINE Corp. (The Kanto Local Finance Bureau)  < Summary> The Kanto Local Finance Bureau took an administrative action against QUOINE Corp., ordering the improvement of its business operations pursuant to the “Payment Services Act.” This administrative action is based on the findings from the FSA’s on-site and off-site inspections, in which the entity was found to have failed to establish an effective management structure to ensure appropriate and reliable business operations.
June 22, 2018	Administrative action against bitFlyer, Inc. (The Kanto Local Finance Bureau)  < Summary> The Kanto Local Finance Bureau took an administrative action against bitFlyer, Inc., ordering the improvement of its business operations pursuant to the “Payment Services Act.” This administrative action is based on the findings from the FSA’s on-site and off-site inspections, in which the entity was found to have failed to establish an effective management structure to ensure appropriate and reliable business operations.
June 22, 2018	Administrative action against bitbank, Inc. (The Kanto Local Finance Bureau)  < Summary> The Kanto Local Finance Bureau took an administrative action against bitbank, Inc., ordering the improvement of its business operations pursuant to the “Payment Services Act.” This administrative action is based on the findings from the FSA’s on-site and off-site inspections, in which the entity was found to have failed to establish an effective management structure to ensure appropriate and reliable business operations.
June 22, 2018	Administrative action against BTCBOX Co.,Ltd. (The Kanto Local Finance Bureau)  < Summary> The Kanto Local Finance Bureau took an administrative action against BTCBOX Co.,Ltd., ordering the improvement of its business operations pursuant to the “Payment Services Act.” This administrative action is based on the findings from the FSA’s on-site and off-site inspections, in which the entity was found to have failed to establish an effective management structure to ensure appropriate and reliable business operations.
June 22, 2018	Administrative action against BITPoint Japan Co., Ltd. (The Kanto Local Finance Bureau)  < Summary> The Kanto Local Finance Bureau took an administrative action against BITPoint Japan Co., Ltd., ordering the improvement of its business operations pursuant to the “Payment Services Act.” This administrative action is based on the findings from the FSA’s on-site and off-site inspections, in which the entity was found to have failed to establish an effective management structure to ensure appropriate and reliable business operations.
June 22, 2018	Administrative action against Tech Bureau, Corp. (The Kinki Local Finance Bureau)  < Summary> Subsequent to the previous administrative action taken against Tech Bureau, Corp. on March 8, 2018, in which the entity was ordered to improve its business in terms of ensuring effective system risk management and appropriate customer services, the Kinki Local Finance Bureau took a further administrative action against the entity, ordering the improvement of its business operations pursuant to the “Payment Services Act.” This administrative action is based on the findings from the FSA’s ongoing on-site inspection, in which the entity was found to have failed to establish an effective business management structure to ensure appropriate and reliable business operations.
June 18, 2018	Financial measures to deal with disasters caused by the earthquake centered in Northern Osaka Prefecture (The Kinki Local Finance Bureau)  < Summary> The Kinki Local Finance Bureau and the Bank of Japan’s Osaka Branch issued a joint statement “Financial Measures to deal with disasters caused by the earthquake centered in Northern Osaka Prefecture” to relevant financial institutions. The statement requests financial institutions in Osaka Prefecture to appropriately deal with victims of the disaster considering their circumstances, such as flexibly responding to the needs of deposit withdrawal.
June 18, 2018	Publication of the agenda and handouts of the fifth meeting of the “Payments Council on Financial Innovation”  < Summary> The FSA published the agenda and handouts of the fifth meeting of the “Payments Council on Financial Innovation,” which was held on June 11, 2018.