What’s New on the FSA Website

Week of December 2, 2019 - December 6, 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)

December 6, 2019

Publication of the finalized regulatory notice designating rules of the Financial Instruments Firms Association based on the "Cabinet Office Order on Financial Instruments Business, etc." <Summary> The FSA finalized the regulatory notice designating rules of the Financial Instruments Firms Association based on the "Cabinet Office Order on Financial Instruments Business, etc." The amendments mainly pertain to the designation of a rule which mandates OTC FX margin brokers to ensure preservation of transaction data and to improve their reporting structure to the Financial Instruments Firms Association. The amended regulatory notice will be enforced on April 1, 2021.

December 2, 2019

Publication of the draft amendments to the "Comprehensive Guidelines for Supervision of Major Banks, etc." <Summary> The FSA proposed the draft amendments to the "Comprehensive Guidelines for Supervision of Major Banks, etc." In response to the recent exponential development in information and communication technology, and to the amendments to the "Banking Act" made in May 2019, the proposal intends to set forth focal points for financial institutions in regard to obtaining consent from financial services users prior to sharing personal information of those users with third parties.

Press Releases

(The following press releases are available in English)

Councils

December 4, 2019	The Council of Experts on the Stewardship Code (2019):The Third Council

 

Banks

December 6, 2019	Overview of major banks’ financial results for the six months ended September 30, 2019
December 6, 2019	Overview of the Japanese regional banks’ financial results for six months ended September 30, 2019

 

Others

December 4, 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

December 5, 2019	Publication of the agenda and handouts of the plenary meeting of the Business Accounting Council and the 46th meeting of the Audit Standard Committee of the said Council <Summary> The FSA published the agenda and handouts of the plenary meeting of the Business Accounting Council and the 46th meeting of the Audit Standard Committee of the said Council which were both held on December 6, 2019.

 

Banks

December 3, 2019

Outline of the "Report on the Measures for the Resolution of Failed Financial Institutions" delivered by the Minister of State for Financial Services, ASO Taro, in the Committee on Financial Affairs of the House of Councillors <Summary> The Minister of State for Financial Services, ASO Taro, delivered an outline of the "Reports on the Measures for the Resolution of Failed Financial Institutions" in the Committee on Financial Affairs of the House of Councillors. The report, addressing the period extending from October 1, 2016 to March 31, 2017, was submitted to the Diet on June 20, 2017 pursuant to the "Act on Emergency Measures for the Revitalization of the Financial Functions."

November 29, 2019

Outline of the "Reports on the Measures for the Resolution of Failed Financial Institutions" delivered by the Minister of State for Financial Services, ASO Taro, in the Committee on Financial Affairs of the House of Representatives <Summary> The Minister of State for Financial Services, ASO Taro, delivered an outline of the "Reports on the Measures for the Resolution of Failed Financial Institutions" in the Committee on Financial Affairs of the House of Representatives. The reports, addressing two semiannual periods extending from April 1, 2018 to September 30, 2018, and from October 1, 2018 to March 31, 2019, had been submitted to the Diet respectively on December 18, 2018 and August 8, 2019, pursuant to the "Act on Emergency Measures for the Revitalization of the Financial Functions."

 

Securities

December 6, 2019	Updated list of entities that are operating financial instruments businesses without proper registration (The Kinki Local Finance Bureau) <Summary> The FSA and the Kinki Local Finance Bureau issued warnings to entities that are operating financial instruments businesses without proper registration. (See the updated list of Japan-based entities).
December 4, 2019	The first trial of an administrative penalty case against a foreign domiciled retail investor for market manipulation regarding stocks of cocokara fine Inc. <Summary> On December 11, 2019, the first trial of an administrative penalty case against a foreign domiciled retail investor for market manipulation regarding stocks of cocokara fine Inc. was conducted.
December 4, 2019	Administrative action against New-S Securities Co., Ltd. (The Kanto Local Finance Bureau) < Summary> The Kanto Local Finance Bureau took an administrative action against New-S Securities Co., Ltd., ordering the suspension of the entity’s entire independent financial advisors (IFA)-related business operations (except for certain services that are exempted from a suspension of operations by the FSA) from December 5, 2019 to March 4, 2020 and the improvement of its business operations pursuant to the “Financial Instruments and Exchange Act.” This administrative action is based on the findings from the FSA’s on-site inspection.

 

Others

December 2, 2019

The 14th Consultation Meeting in Relation to the Multiple-Debt Problem and Consumer Finance <Summary> On December 9, 2019, the FSA and the Consumer Affairs Agency jointly held the 14th 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.”