What’s New on the FSA Website

Week of September 24, 2019 - September 27, 2019

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

Public Comments

(The following public comments are available in Japanese)

September 24, 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 update the final implementation phases of margin requirements for non-centrally cleared OTC derivatives corresponding to group-based notional amount, in consonance with a one-year extension of the final implementation phase agreed by the BCBS and IOSCO in July 2019.

Press Releases

(The following press releases are available in English)

Councils

September 25, 2019	The Council of Experts on the Stewardship Code (2019):The First Council

 

Publication

September 26, 2019	Publication of the 194th issue of the FSA’s journal, Access FSA

 

Others

September 27, 2019	Updated statistics of money lending business
September 27, 2019	Update on Progress toward Further Efficiency and Transparency in the Screening Procedures for Licensing and Registration of Financial Businesses

 

(The following press releases are available in Japanese)

Banks

September 27, 2019	Publication of the outline of proceedings of the 24th meeting and the minutes of the 20th meeting of the Examination Board on Strengthening of Financial Functions <Summary> The FSA published the outline of proceedings of the 24th meeting and the minutes of the 20th meeting of the Examination Board on Strengthening of Financial Functions pursuant to Article 8 and 9 of the Operational Rules for the Board, respectively.
September 27, 2019	Approval of the Business Strengthening Plans of financial institutions <Summary> The FSA approved the Business Strengthening Plans of financial institutions listed below, pursuant to the “Act on Special Measures for Strengthening Financial Functions.” THE HOWA BANK,LTD., Tsukuba Bank, Ltd. THE TOHOKU BANK,LTD., Tokyo Kosei Shinkumi Bank, and YokohamaKougin Credit Cooperative.
September 27, 2019	Publication of the implementation report of the Business Strengthening Plans (as of March 2019) <Summary> The FSA published the implementation report of the Business Strengthening Plans (as of March 2019) pursuant to the “Act on Special Measures for Strengthening Financial Functions.”

 

Insurance

September 27, 2019

Administrative action against P's-first Insurance Co., Ltd., (The Kanto Local Finance Bureau) <Summary> The Kanto Local Finance Bureau took an administrative action against P's-first Insurance Co., Ltd., ordering the suspension of the entity’s business operations from October 18, 2019 to January 17, 2020 and the improvement of its business operations pursuant to the “Insurance Business Act.” This administrative action is based on the findings from the FSA’s on-site inspection and subsequent mandatory report filed by P's-first Insurance Co., Ltd.

 

Others

September 27, 2019	Publication of the PoC (proof-of-concept) test results of the "Open Laboratory" pertaining to AI utilization in examining securities reports, etc. <Summary> The FSA's "Open Laboratory" finalized and published the results of a PoC (Proof-of-Concept) project pertaining to AI utilization in examining securities reports, etc. The PoC project team, with the cooperation of 20 corporate participants from the private sector, conducted a series of PoC tests to find the feasibility of AI utilization in automating the examination/verification process to assess the integrity of the non-financial context information contained in corporate securities reports. The corporate participants in cooperation with the said PoC team conducted PoC tests by taking a variety of approaches, such as programming, machine-learning, and deep machine learning, whereby they compiled their test results including their respective test methods, new insights, and future possibilities.
September 26, 2019	Publication of "Statistics of NISA and Junior NISA Accounts" as of June 30, 2019 <Summary> The FSA published "Statistics of NISA and Junior NISA Accounts." As of June 30, 2019, there were approximately 13.1 million NISA accounts in total, and approximately 17.1 trillion yen (approximately 158.2 billion USD) was invested through the NISA accounts, among which, 178.1 billion yen (approximately 1.7 billion USD) was invested through approximately 1.5 million accounts of Dollar-Cost Averaging NISA (individual saving account for periodic investment) which has started since January 2018.
September 25, 2019	Request for financial measures to deal with disasters caused by Typhoon No. 15 (The Tokyo Local Finance Office of the Kanto Local Finance Bureau) (September 24, 2019) <Summary> On September 24, 2019, the Tokyo Local Finance Office of the Kanto Local Finance Bureau and the Financial System and Bank Examination Department of the Bank of Japan issued a joint statement titled “Financial Measures to deal with disasters caused by Typhoon No. 15, 2019” to the relevant financial institutions. The statement requests financial institutions in Tokyo Islands (Tokyo Metropolis) to appropriately deal with victims of the disaster considering their circumstances, such as by making the repayment of deposits flexible.