What’s New on the FSA Website

Week of June 10, 2019 - June 14, 2019

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

Press Conferences

June 14, 2019	Press Conference by the Minister for Financial Services (June 11, 2019) Japanese version
June 14, 2019	Press Conference by the Minister for Financial Services (June 7, 2019) Japanese version
June 12, 2019	Press Conference by the Minister for Financial Services (June 4, 2019) Japanese version
June 12, 2019	Press Conference by the Minister for Financial Services (May 31, 2019) (Available in Japanese)
June 12, 2019	Press Conference by the Minister for Financial Services (May 28, 2019) (Available in Japanese)
June 12, 2019	Press Conference by the Minister for Financial Services (May 24, 2019) (Available in Japanese)
June 12, 2019	Press Conference by the Minister for Financial Services (May 21, 2019) (Available in Japanese)

Public Comments

(The following public comments are available in Japanese)

June 13, 2019

Publication of the draft “Cabinet Office Order to Amend the Ordinance for Enforcement of the Labor Bank Act”  < Summary> The FSA published the draft “Cabinet Office Order to Amend the Ordinance for the Enforcement of the Labor Bank Act.” The proposal mainly pertains to the disclosure regarding; (1) unification of non-performing loans disclosed based on the “Financial Reconstruction Act” and the “Banking Act”; and (2) net profits from core business operations (excluding gains or losses of investment trusts, etc. to be cancelled).

June 10, 2019

Publication of the finalized amendments to the “Comprehensive Guidelines for Supervision of Financial Instruments Business Operators”  < Summary> The FSA finalized the amendments to the “Comprehensive Guidelines for Supervision of Financial Instruments Business Operators.” The amendments reflect the FSB’s policy recommendations pertaining to repos and lending, and borrowing of securities which were finalized in 2015, mainly in respect of the following: (1) To request investment management business operators to enhance the contents of their reporting to end-investors (2) To include various elements to minimum standards pertaining to the reinvestment of cash collaterals (3) To set out requirements that should be included in minimum standards for the assessment and management of collaterals The amended Guidelines will be enforced on July 1, 2019.

Press Releases

(The following press releases are available in English)

International 

June 12, 2019

Financial Stability Board (FSB) published following reports to G20 Finance Ministers and Central Bank Governors  Cyber Incident Response and Recovery   Remittance Service Providers’ Access to Banking Services   Crypto-assets   FSB Report on Market Fragmentation   Task Force on Climate-related Financial Disclosures: Status Report   Decentralised financial technologies   Evaluation of the effects of financial regulatory reforms on small and medium-sized enterprise (SME) financing

Banks

Insurance

June 14, 2019	Field Tests of Economic Value-Based Evaluation and Supervisory Method - 2018 Results and 2019 Direction -

Others

June 13, 2019	Insurance Forum Japan 2019 - Remarks by Taro Aso, Deputy Prime Minister, Minister of Finance, Minister of State for Financial Services
June 13, 2019	IIF Spring Membership Meeting - Keynote Speech by FSA Commissioner Toshihide Endo
June 13, 2019	IIF Spring Membership Meeting - Remarks by Deputy Prime Minister Taro Aso
June 13, 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)

Councils

June 10, 2019	Publication of the agenda and handouts of the 12th 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 12th meeting (in the program year 2018) of the “Study Group on the Financial System” under the Financial System Council, which was held on June 10, 2019.

Banks

June 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.

Securities

June 14, 2019

Rescission of an order to impose an administrative penalty charge against MAM PTE. Ltd. for committing insider trading regarding stocks of Nippon Sheet Glass Co., Ltd. by using received insider information  < Summary> The FSA’s order to impose an administrative penalty charge against MAM PTE. Ltd., which was imposed in 2014 for committing insider trading regarding stocks of Nippon Sheet Glass Co., Ltd. by using information received from an employee of a contract negotiator with Nippon Sheet Glass Co., Ltd. was rescinded by the judgement of the court.

June 14, 2019

Administrative actions against four notifiers of specially permitted business for qualified institutional investors (SPBQII)  < Summary> The Kanto Local Finance Bureau took administrative actions against four notifiers of specially permitted business for qualified institutional investors (SPBQII) who failed to file the mandatory documents in full to the authorities in violation of an order for the collection of reports and of following the previous orders to improve their business operations. The notifiers were ordered the abolition of their entire SPBQII and the improvement of their business operations pursuant to the “Financial Instruments and Exchange Act.”

 

Others

June 12, 2019	Results of the survey on insurance companies’ accessibility services offered to their customers with disabilities  < Summary> The FSA published the results of the survey on insurance companies’ accessibility services offered to their customers with disabilities (as of March 31, 2019).
June 10, 2019	The 13th Consultation Meeting in Relation to the Multiple-Debt Problem and Consumer Finance  < Summary> On June 17, 2019, the FSA and the Consumer Affairs Agency jointly held the 13th Consultation Meeting in Relation 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.”
June 10, 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.
June 10, 2019	Publication of the results of the policy evaluation for FY 2017  < Summary> Pursuant to the “Government Policy Evaluations Act,” all Ministries and Agencies are required to conduct annual policy reviews and reflect the results to improve their policies in order to realize an efficient, high-quality, and results-oriented government administration. The FSA published the results of the policy evaluation for FY 2017.