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FSA Weekly Review No.336
- March 22, 2019
What’s New on the FSA Website
Week of March 11, 2019 - March 15, 2019
This page contains the latest in events, developments, and updates to the FSA website.
Press Conferences
March 12, 2019 | Press Conference by the Minister for Financial Services (March 1, 2019) (Available in Japanese ) |
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Public Comments
(The following public comments are available in Japanese)
March 15, 2019 | Publication of the finalized amendments to the regulatory notices pertaining to Pillar 1 and Pillar 3 requirements of capital adequacy < Summary> The FSA finalized the amendments to the regulatory notices pertaining to Pillar 1 and Pillar 3 requirements of capital adequacy. The amendments mainly pertain to the following: (1) Capital requirements for banks’ equity investments in funds (2) Securitization framework (3) Introduction of leverage ratio requirements (4) Introduction of TLAC (Total Loss-Absorbing Capacity) requirements on Japanese financial institutions and the capital requirements for holding TLAC instruments Note: (3) and (4) are the newly introduced requirements while (1) and (2) reflect amendments to capital requirements and securitization framework. The amended regulatory notices will be enforced on March 31, 2019. |
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March 14, 2019 | Publication of the draft amendments to the “Cabinet Office Order on Financial Instruments Business” < Summary> The FSA proposed the draft amendments to the “Cabinet Office Order on Financial Instruments Business.” The proposal aims to mandate OTC FX margin brokers to ensure preservation of transaction data and to improve their reporting structure to the Financial Instruments Firms Association. |
March 14, 2019 | Publication of the draft “Discussion Paper on Dialogues and Practices Regarding Financial Institutions’ IT Governance” (provisional English title) < Summary> The FSA proposed the draft “Discussion Paper on Dialogues and Practices Regarding Financial Institutions’ IT Governance” (provisional English title). The Discussion Paper mainly outlines key discussion points on holding dialogues with financial institutions with respect to IT governance based on results from a series of dialogues on IT governance held with several financial institutions from key business sectors, and with outside experts, wherein information on good practices was collected. |
Press Releases
(The following press releases are available in English)
International
Others
March 15, 2019 | Appointment of Chief Sustainable Finance Officer |
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March 11, 2019 | 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
March 15, 2019 | Publication of the “Cabinet Office Order to Amend the Ordinance for the Enforcement of the Banking Act” < Summary> The FSA published the “Cabinet Office Order to Amend the Ordinance for the Enforcement of the Banking Act.” The updated Order reflects the amendments to the matters as specified separately by the Commissioner of the FSA concerning the condition of adequacy of equity capital pursuant to the “Ordinance for the Enforcement of the Banking Act.” The updated Order will be enforced on March 31, 2019. |
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March 14, 2019 | Publication of statistics regarding unlawful reimbursement of deposits < Summary> The FSA published statistics regarding unlawful reimbursement of deposits caused by counterfeit and stolen cash cards, stolen deposit books, and unlawful Internet banking activities. The statistics include details of incidents and compensation made by financial institutions based on reports from the financial institutions. |
March 13, 2019 | Promulgation and enforcement of the “Cabinet Order to Amend the Order for Enforcement of the Postal Service Privatization Act” < Summary> The FSA and the Ministry of Internal Affairs and Communications jointly announced that the “Cabinet Order to Amend the Order for Enforcement of the Postal Service Privatization Act” was promulgated on March 13, 2019, and will be enforced on April 1, 2019, where the details of the amendment are shared on the FSA’s website. The amendment mainly pertains to savings caps for ordinary savings and fixed-term deposit accounts at Japan Post Bank, based on the recommendation made by the Postal Service Privatization Committee to set savings caps for ordinary savings and fixed-term deposit accounts respectively. |
March 11, 2019 | License granted to J-Value Trust Co., Ltd. to conduct investment-based trust business < Summary> The FSA granted a license to J-Value Trust Co., Ltd. to conduct investment-based trust business pursuant to the “Trust Business Act.” |
Securities
March 14, 2019 | Administrative action against Lucky Bank Investment Co., Ltd. (The Kanto Local Finance Bureau) < Summary> The Kanto Local Finance Bureau took an administrative action against Lucky Bank Investment 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. |
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Others
March 11, 2019 | Warnings about entities that are operating money lending businesses without proper registration < Summary> The FSA (Local Finance Bureaus) updated warnings about entities that are operating money lending businesses without proper registration. The warnings include the updated list of entities that misrepresent their registration using fictitious or stolen registration numbers. |
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