What’s New on the FSA Website

Week of December 17 - December 21, 2018

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

Public Comments

(The following public comment is available in Japanese)

December 21, 2018

Publication of the draft “Principles for the Disclosure of Narrative Information”  < Summary> The FSA proposed the draft “Principles for the Disclosure of Narrative Information” based on the proposal presented in the Report by the “Working Group on Corporate Disclosure” of the Financial System Council, which was published on June 28, 2018. The draft Principles mainly aim to enhance the disclosure of narrative (non-financial) corporate information particularly in terms of business policies, business strategies, management’s discussion and analysis of financial condition, results of operations and cash flows, and risk factors, by not limiting disclosure to the corporate financial information subject to statutory disclosure pursuant to the applicable rules.

 

Press Releases

(The following press releases are available in English)

International 

December 18, 2018

Basel Committee on Banking Supervision (BCBS) published a consultative document entitled "Revisions to leverage ratio disclosure requirements"

December 17, 2018

FSB reports following documents to G20 Leaders: Progress report of FSB action plan to assess and address the decline in correspondent banking, final report on effects of reforms on incentives to centrally clear over-the-counter derivatives, evaluation of the effects of financial regulatory reforms on infrastructure finance, and fourth annual report on the implementation and effects of the G20 financial regulatory reforms.

Insurance

December 21, 2018	Overview of financial results of major insurance companies as of September 30, 2018

Publication

December 17, 2018	Publication of the 185th issue of the FSA’s monthly journal, Access FSA

Others

December 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

December 20, 2018	Publication of the agenda and handouts of the fifth meeting (in the program year 2018) of the “Study Group on the Financial System” under the Financial System Council  < Summary> The FSA published the agenda and handouts of the fifth meeting (in the program year 2018) of the “Study Group on the Financial System” under the Financial System Council, which was held on December 20, 2018.
December 17, 2018	Publication of the agenda and handouts of the 18th meeting of the “Working Group on Financial Markets” of the Financial System Council  < Summary> The FSA published the agenda and handouts of the 18th meeting of the “Working Group on Financial Markets” of the Financial System Council, which was held on December 17, 2018.

Banks

December 18, 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 April 1 and September 30, 2018.

Securities

December 21, 2018	Administrative penalty charge against UKC Holdings Corporation for making false statements in its securities reports  < Summary> On December 20, 2018, the FSA issued an order to impose an administrative penalty charge against UKC Holdings Corporation for making false statements in its securities reports.
December 21, 2018	Administrative penalty charges against individuals for committing insider trading regarding stocks of Morpho, Inc. by using received insider information (1) (2) (3) (4) (5) (6) (7)  < Summary> On December 20, 2018, the FSA issued orders to impose administrative penalty charges against individuals for committing insider trading regarding stocks of Morpho, Inc. by using information respectively received as an officer and employees of the entity.
December 21, 2018	Administrative action against TOYO SECURITIES CO., LTD. (The Kanto Local Finance Bureau)  < Summary> The Kanto Local Finance Bureau took an administrative action against TOYO SECURITIES CO., LTD., 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

December 21, 2018	Publication of the “Key FSA-Related Items in the Outline for the FY 2019 Tax Reform”  < Summary> Based on the compiled FY 2019 Tax Reform, the FSA published the “Key FSA-Related Items in the Outline for the FY 2019 Tax Reform.”
December 21, 2018	Publication of the request for organization, staff and budget for FY 2019 (draft)  < Summary> The FSA published a (draft) overview of the request for organization, staff and budget for FY 2019.
December 20, 2018	Publication of the FSA’s response to an inquiry pertaining to the System to Remove Gray Zone Areas < Summary> The FSA published its response to an inquiry pertaining to the System to Remove Gray Zone Areas which was introduced in tandem with the enforcement of the “Act on Strengthening Industrial Competitiveness,” in which a business entity may confirm the regulatory applicability in advance so that the entity may engage in a new business activity without concern even in a business area where regulatory applicability is yet to be clarified. The response published on December 20, 2018 is related to the “Money Lending Business Act.”
December 20, 2018	Publication of the agenda and handouts of the third meeting of the “Advisory Council on Enhancement of Auditing Information Provision”  < Summary> The FSA published the agenda and handouts of the third meeting of the “Advisory Council on Enhancement of Auditing Information Provision” which was held on December 20, 2018.
December 20, 2018	Publication of “Statistics of NISA and Junior NISA Accounts”  < Summary> The FSA published “Statistics of NISA Accounts.” As of September 30, 2018, there were approximately 12.3 million NISA accounts (inclusive of Dollar-Cost Averaging NISA accounts) in total, and approximately 15.0 trillion yen (approximately 134.4 billion USD) was invested through the NISA accounts, among which, 57.6 billion yen (approximately 514.7 million USD) was invested through approximately 876 thousand accounts of Dollar-Cost Averaging NISA (individual saving account for periodic investment) which has started since January 2018.
December 20, 2018	Publication of the draft amendments to the EDINET Taxonomy – 2019  < Summary> The FSA proposed the draft amendments to the EDINET Taxonomy – 2019. The amendments are to reflect the revision of the disclosure regulations and accounting standards.
December 19, 2018	The 12th Consultation Meeting in relation to the Multiple-Debt Problem and Consumer Finance  < Summary> On December 26, 2018, the FSA and the Consumer Affairs Agency jointly held the 12th Consultation Meeting related to the Multiple-Debt Problem and Consumer Finance. The consultation meeting was held to follow up the status on lenders and borrowers as part of the measures based on the “Program to Remedy the Multiple-Debt Problem.”
December 19, 2018	Publication of the updated column titled “Teach me, Mr. Mushitori” (original Japanese title: “Oshiete Mushitori Sensei”), a subpage of the “NISA Official Promotion Webpage,” with an interview article (vol. 8) < Summary> The FSA published the updated column titled “Teach me, Mr. Mushitori” (original Japanese title: “Oshiete Mushitori Sensei”), a subpage of the “NISA Official Promotion Webpage,” with an interview article (vol. 8). The column mainly shares informative quotes from a series of interviews with an experienced individual investor, where the interviews were conducted from a novice investor’s perspective by young officials who have been with the FSA one to three years.
December 17, 2018	Publication of the FSA Annual Report for program year 2017 (July 2017 - June 2018)  < Summary> The FSA published the FSA Annual Report for program year 2017 (July 2017 - June 2018). It covers the FSA’s overall policies including its mission, organization, and measures including amendments of regulations and supervisory actions. (Available only in Japanese).