What’s New on the FSA Website

Week of March 16, 2020 - March 19, 2020

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

Public Comments

(The following public comment is available in Japanese)

March 19, 2020	Publication of the finalized amendments to the FSA's regulatory notice of the "designated IFRSs" <Summary> The FSA finalized the amendments to the regulatory notice of the "designated IFRSs" stipulated in the "Regulation for Terminology, Forms and Preparation of Consolidated Financial Statements." The amended regulatory notice has been enforced on March 19, 2020.

Press Releases

(The following press releases are available in English)

Others

March 16, 2020	Stewardship Code : 280 institutional investors have signed up to the Principles for Responsible Institutional Investors as of March 13, 2020
March 16, 2020	Updated list of issuers of gift certificates in repayment procedures based on the "Payment Services Act"

 

(The following press releases are available in Japanese)

International

March 19, 2020

Announcement Pertaining to Global Money Week 2020 <Summary> The FSA has endorsed the objectives of Global Money Week* and will remain committed to prompting financial education through participation in the OECD International Network on Financial Education (OECD/INFE), in line with global perspectives. * Global Money Week is an international awareness campaign run between 2012 and 2019 by Child & Youth Finance International (CYFI) to promote financial education and financial inclusion for children and young people. In 2020, the role of the secretariat of Global Money Week was taken over from CYFI by the OECD/INFE.

 

Banks

March 19, 2020	Approval granted to Saitama Resona Bank,Limited for its engagement in trust business <Summary> The FSA granted approval to Saitama Resona Bank,Limited for its engagement in trust business pursuant to the "Act on Engagement in Trust Business by a Financial Institution."
March 18, 2020	Statement on the prudential standards in response to the increasing impact from the spread of Coronavirus Disease 2019 (COVID-19) <Summary> The FSA issued a statement which provides a reminder about the prudential standards, in response to the increasing impact from the spread of Coronavirus Disease 2019 (COVID-19) where financial support for business enterprises are particularly required.
March 17, 2020	Publication of statistics regarding unlawful reimbursement of deposits (as of the end of December 2019) <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

March 19, 2020

Administrative actions against. DTC Co., Ltd. and TRAFFIC TRADE Co., Ltd (The Fukuoka Local Finance Branch Bureau) (1) (2) <Summary> The Fukuoka Local Finance Branch Bureau took administrative actions against DTC Co., Ltd. and TRAFFIC TRADE Co., Ltd, ordering the revocation of the entities' registration and the improvement of their business operations pursuant to the "Financial Instruments and Exchange Act." These administrative actions are based on recommendations from the Securities and Exchange Surveillance Commission (SESC) as results of its on-site inspections.

 

Others

March 19, 2020

Publication of a brochure for business enterprises facing liquidity constraints due to the impact from Coronavirus Disease 2019 (COVID-19) <Summary> The FSA has published a brochure for business enterprises facing liquidity constraints due to the impact from Coronavirus Disease 2019 (COVID-19), which provides useful information mainly in regard to (financial) support measures for COVID-19 affected parties taken by the respective financial institutions (including governmental financial institutions), as well as COVID-19 response related points of contact in relevant competent authorities and associations.

March 16, 2020

Publication of the "Cabinet Office Order to Amend the Ordinance for Enforcement of the Money Lending Business Act" <Summary> The FSA has published the "Cabinet Office Order to Amend the Ordinance for Enforcement of the Money Lending Business Act." In response to the report of COVID-19 (Coronavirus Disease 2019) infection almost across the state, the Order provides the following mitigation measures when financial institutions provide loans for the disaster-affected victims. to provide flexibility in loan applications for the "expenses that are found to be urgently necessary in light of socially accepted conventions" which are exempt from statutory total lending limit requirements to provide flexibility in loan applications for individual business owners which are exempt from the statutory total lending limit requirements to provide flexibility in loan applications for cash advances (cashing) under revolving credit loans (financing within the scope of statutory lending limits) to provide flexibility in loan applications for borrowers whose annual incomes are aggregated by including those of their spouses which are exempt from the statutory total lending limit requirements The amended Order has been enforced on March 16, 2020.