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FSA Weekly Review No.362
- October 11, 2019
What’s New on the FSA Website
Week of September 30, 2019 - October 4, 2019
This page contains the latest in events, developments, and updates to the FSA website.
Press Conferences
September 30, 2019 | Press Conference by the Minister for Financial Services (September 20, 2019) Japanese version |
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Public Comments
(The following public comments are available in Japanese)
October 4, 2019 | Publication of the draft regulatory notice of the "Criteria for Payment of Insurance Claims, etc. of Compulsory Automobile Liability Insurance and Mutual Aid Money, etc. of Compulsory Automobile Liability Mutual Aid" <Summary> The Ministry of Land, Infrastructure, Transport and Tourism (MLIT) and the FSA jointly published the draft regulatory notice of the "Criteria for Payment of Insurance Claims, etc. of Compulsory Automobile Liability Insurance and Mutual Aid Money, etc. of Compulsory Automobile Liability Mutual Aid." From the perspective of ensuring fairness and swiftness in the payment of insurance claims of automobile damage liability insurance and mutual aid money, insurance companies are required to pay such insurance claims in accordance with the criteria for payment set forth by the MLIT and the FSA. (The Criteria is under the joint jurisdiction of the MLIT and the FSA). The proposal mainly aims to update the Criteria by reflecting the updated statutory interest rates and other factors, taking into account the current changes in socioeconomic circumstances subsequent to the enforcement of the amendments to the Civil Code and the previous amendments to the Criteria (as of April 2010). |
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September 30, 2019 | Publication of the draft amendments to the "Comprehensive Guidelines for Supervision of Financial Instruments Business Operators” <Summary> The FSA proposed the draft amendments to the "Comprehensive Guidelines for Supervision of Financial Instruments Business Operators." The proposal aims to expressly set forth in the Guidelines that the composition and sale of investment trusts (investment corporations) which invest in assets other than Specified Assets* such as crypto-asset (virtual currency) are not appropriate. *Securities, real property, and other assets that Cabinet Order specifies as those in which it is necessary to facilitate investment. |
Press Releases
(The following press releases are available in English)
Others
(The following press releases are available in Japanese)
Councils
October 4, 2019 | Publication of the agenda and handouts of the first meeting of the "Working Group on Regulations for Payment Services Providers and One-Stop Financial Services Brokers" under the Financial System Council <Summary> The FSA published the agenda and handouts of the first meeting of the "Working Group on Regulations for Payment Services Providers and One-Stop Financial Services Brokers" under the Financial System Council, which was held on October 4, 2019. |
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October 2, 2019 | Publication of the agenda and handouts of the third meeting of the "Specialized Study Group on Japanese Market Structure" under the Financial System Council <Summary> The FSA published the agenda and handouts of the third meeting of the "Specialized Study Group on Japanese Market Structure" under the Financial System Council, which was held on October 2, 2019. |
Banks
October 4, 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. |
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September 30, 2019 | Approval granted to The Bank of Yokohama,Ltd. for its engagement in trust business <Summary> The FSA granted approval to The Bank of Yokohama,Ltd. for its engagement in trust business pursuant to the "Act on Engagement in Trust Business by a Financial Institution." |
September 30, 2019 | Approval granted to The Daishi Bank,Ltd. for its engagement in trust business <Summary> The FSA granted approval to The Daishi Bank,Ltd. for its engagement in trust business pursuant to the "Act on Engagement in Trust Business by a Financial Institution." |
Securities
September 30, 2019 | Publication of the updated regulatory notice of the "Interest Rates on Foreign Bond Repurchase/Resale (Repo) Transactions Subject to Tax Exemption for Cross-border Bond Repo Transactions" to specify certain requirements <Summary> The FSA published the updated regulatory notice of the "Interest Rates on Foreign Bond Repurchase/Resale (Repo) Transactions Subject to Tax Exemption for Cross-border Bond Repo Transactions" to specify certain requirements, pursuant to the "Ordinance for Enforcement of the Act on Special Measures Concerning Taxation." The notice was enforced on October 1, 2019. |
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September 30, 2019 | Updated list of entities that are operating financial instruments businesses without proper registration (The Kanto Local Finance Bureau) <Summary> The FSA and the Kanto Local Finance Bureau issued a warning to an entity that is operating financial instruments businesses without proper registration. (See the updated list of Japan-based entities). |
Others
October 2, 2019 | Fourth sector-wide cybersecurity exercise (“Delta Wall IV”) <Summary> Ensuring cybersecurity across the financial sector has become a crucial issue for the stability of the overall financial system due to cyberattacks in the financial sector becoming increasingly sophisticated and complicated. In the run-up to the "Games of the XXXII Olympiad and Tokyo 2020 Paralympic Games," to prepare for the occurrence of a large-scale cyber incident, the FSA has conducted the fourth sector-wide cybersecurity exercise (“Delta Wall* IV”) over the period from October 3 to 11, 2019. * Delta Wall means a key element in cybersecurity: the triad (Delta) of “self-help,” “mutual assistance,” and “public assistance.” |
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