What’s New on the FSA Website
Week of March 18, 2019 - March 22, 2019
This page contains the latest in events, developments, and updates to the FSA website.
|March 19, 2019||Press Conference by the Minister for Financial Services (March 8, 2019) (Available in Japanese)|
|March 19, 2019||Press Conference by the Minister for Financial Services (March 5, 2019) (Available in Japanese)|
(The following public comments are available in Japanese)
|March 20, 2019||Publication of the draft amendments to the “Cabinet Office Order on Financial Instruments Business”
The FSA proposed the draft amendments to the “Cabinet Office Order on Financial Instruments Business.” The proposal aims to take necessary measures for market vitalization and regulatory rationalization in terms of the following:
(1) PTS (Proprietary Trading System) margin transactions
(2) Introduction of TLAC requirements for offshore subsidiaries of G-SIBs (global systemically important banks)
(3) Mitigation of statutory matters to be stated in advertisements, etc.
(4) Regulatory easing for transactions of beneficial interest in real property trust between real estate funds and REIT (real estate investment trust)
|March 18, 2019||Publication of the finalized amendments to the “Comprehensive Guidelines for Supervision of Financial Instruments Business Operators”
The FSA finalized the amendments to the “Comprehensive Guidelines for Supervision of Financial Instruments Business Operators.” The amendments mainly pertain to the commencement of margin trading on proprietary trading systems (PTSs) in respect of the following:
(1) that the ban on margin trading on PTSs is lifted
(2) that a financial instruments business operator that operates/manages PTSs should take preventive measures for conflicts of interest
(3) that a financial instruments business operator that operates/manages PTSs should take measures that are equivalent to the self-regulatory functions of stock exchanges
The amended Guidelines will be enforced on April 1, 2019.
|March 18, 2019||Publication of the draft amendments to the “Order for Enforcement of the Financial Instruments and Exchange Act”
The FSA proposed the draft amendments to the “Order for Enforcement of the Financial Instruments and Exchange Act.” Among securities transactions conducted on foreign financial instruments markets, with regard to transactions that are considered not detrimental to investor protections even while securities obtained therein are not purchased by means of tender offers, the proposal aims to add such transactions to the category of transactions where share certificates are not required to be purchased by means of tender offers as stipulated in the “Financial Instruments and Exchange Act.”
(The following press releases are available in English)
|March 22, 2019||Publication of Report from Study Group on Virtual Currency Exchange Services|
(The following press releases are available in Japanese)
|March 18, 2019||Approval granted to The Hokuriku Bank, Ltd. for its engagement in trust business
The FSA granted approval to The Hokuriku Bank, Ltd. for its engagement in trust business pursuant to the “Act on Engagement in Trust Business by a Financial Institution.”
|March 18, 2019||Administrative action against IIO Co.,Ltd. (The Kanto Local Finance Bureau)
The Kanto Local Finance Bureau took an administrative action against IIO Co.,Ltd. as the Kanto Local Finance Bureau cannot ascertain the location of its office, ordering the revocation of the entity’s registration pursuant to the “Financial Instruments and Exchange Act.”
|March 19, 2019||Points that need to be addressed in a securities report (FY 2019 and thereafter) and securities report review from FY 2019 onwards
The FSA published points that need to be addressed in a securities report from FY 2019 onwards as follows:
1) Points related to the newly applied disclosure regulations
2) Points related to the results of the securities report review of the prior year
Also, the FSA is to conduct securities report review for the reports submitted in FY 2019 and thereafter. The main three pillars of the review are:
・the review on the application of the newly applied regulations;
・the review on the implementation of key priority themes; and
・the review by utilizing information from disclosure, media, and retail investors.
|March 19, 2019||Publication of the finalized “Principles for the Disclosure of Narrative Information” and a reference casebook of good practices on the disclosure of narrative information based on the Principles
Following the proposal by the “Working Group on Corporate Disclosure” of the Financial System Council, which was published on June 28, 2018, in order to encourage corporate initiatives toward the enhancement of corporate disclosure beyond mere compliance with regulatory formalities, the FSA published the finalized “Principles for the Disclosure of Narrative Information” and a reference casebook of good practices on the disclosure of narrative information based on the Principles.
The Principles provide guidance on disclosing business policies, business strategies, management's discussion and analysis of financial condition, results of operations and cash flows, and risk factors, and the reference casebook shares the collection of favorable practices on disclosure of narrative information.
|March 18, 2019||Publication of the minutes of the Expert Panel on Policy Assessment
The FSA published the minutes of the Expert Panel on Policy Assessment held on February 15, 2019.
- Laws & RegulationsPage list
- Name of Laws and Regulations(PDF)
- Financial Instruments and Exchange Act
- Recent Changes
- Public Comment
- No Action Letter System
- Procedures concerning Foreign Account Management Institutions
- PrinciplesPage list
- Strategic Directions and Priorities
- Progress and Assessment of the Strategic Directions and Priorities
- Policy Approaches to Strengthen Cyber Security in the Financial Sector
- Financial Monitoring Policy
- AnnouncementsPage list
- Press Conferences
- Press Releases
- Official Statements
- Great East Japan Earthquake-Related Information
- The Earthquake Centered in the Kumamoto Region of Kumamoto Prefecture 2016-Related Information
- List of Institutions
- For those engaging in High Speed Trading
- To Operators of Specially Permitted Businesses for Qualified Institutional Investors, etc.