What’s New on the FSA Website
Week of November 9, 2020 - November 13, 2020
This page contains the latest in events, developments, and updates to the FSA website.
(The following press releases are available in English)
|November 11, 2020||G20: Efforts on Governance Issues in Decentralized Financial Systems "BGIN" - new global network|
|November 10, 2020||Preparation for permanent cessation of LIBOR|
(The following press releases are available in Japanese)
|November 13, 2020||Publication of the proceedings and handouts of the third meeting of the "Working Group on Capital Market Regulations" (provisional English title) of the Financial System Council
The FSA published the proceedings and handouts of the third meeting of the "Working Group on Capital Market Regulations" (provisional English title) of the Financial System Council, which was held on November 13, 2020.
|November 11, 2020||Publication of the "Opinion on the Revision of Auditing Standards" and the "Opinion on the Revision of Interim (Semi-annual) Auditing Standards" (provisional English titles)
The Plenary Meeting1 of the Business Accounting Council (which was held on November 6, 2020) has compiled and published the "Opinion on the Revision of Auditing Standards" and the "Opinion on the Revision of Interim (Semi-annual) Auditing Standards" (provisional English titles), based on public comments received through public consultation (from March 23 to April 21, 2020) on the revisions2 of the respective Exposure Drafts of the Auditing Standards and the Interim (Semi-annual) Auditing Standards.
1. The plenary meeting of the said Council is comprised of external experts and stakeholders, wherein the FSA serves as the secretariat.
2. The revisions intend to clarify the roles and procedures auditors should take in regard to "other information"* which is included in disclosure documents containing audited financial statements and the auditor's report thereon, and to require auditors to refer to the matters in the auditor's reports when there is a material misstatement of "other information." The revisions also intend to further enhance a risk-based approach to auditing.
* Other information in this context means financial and/or non-financial information (other than the financial statements and the auditor's report thereon).
|November 9, 2020||Publication of the proceedings and handouts of the fifth meeting of the "Working Group on Japanese Banking System" of the Financial System Council
The FSA published the proceedings and handouts of the fifth meeting of the "Working Group on Japanese Banking System" of the Financial System Council, which was held on November 9, 2020.
|November 12, 2020||Request for financial measures to deal with the outbreak of highly pathogenic avian flu (HPAI) in Tokushima Prefecture (The Shikoku Local Finance Bureau)
The Shikoku Local Finance Bureau issued the statement "Financial Measures in Response to the Report of the Subspecies of Highly Pathogenic Avian Influenza (HPAI)" to relevant financial institutions in Tokushima Prefecture. The statement requests financial institutions to cooperate with prefectural authorities and appropriately deal with HPAI-affected parties (poultry farms, processors, and trade) considering their circumstances, such as by attentively responding to the needs of business management consultation and new loans or change of loan terms.
|November 10, 2020||Request statement to electronic payment service providers to enhance their information security management systems
The FSA issued a request statement to electronic payment service providers to check security vulnerabilities in their current information security management systems and to enhance their systems as necessary, in response to the recent surge of unauthorized withdrawals (by malicious and fraudulent third parties) from financial service users' accounts linked with (online) financial services provided by financial institutions, including electronic payment service providers.
In this context, the FSA urges financial services users to first report to (and or consult with) their electronic payment service providers (financial institutions) if the users find any signs of unauthorized transactions in their accounts. The FSA also urges financial services users to double-check their bank accounts for any signs of suspicious transactions conducted by possible malicious third parties and keep intact their personal account information, including PINs/passwords.
|November 10, 2020||Warnings about entities that are operating money lending businesses without proper registration
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.
|November 9, 2020||Publication of a series of 10-minute financial literacy videos (the FSA's "Teach Me-Video Series (tutorial video series)" [provisional English title]) on a subpage of the FSA's "NISA Official Promotion Webpage"
The FSA published a series of 10-minute financial literacy videos (the FSA's "Teach Me-Video Series (tutorial video series)" [provisional English title]) on a subpage of the FSA's "NISA Official Promotion Webpage." The video series is compiled based on on-site lessons conducted mainly in universities and high schools by guest experts (academic and non-academic experts, including professors and financial professionals/practitioners) and the FSA's then-Commissioner. This initiative mainly aims at the enhancement of financial literacy of the lesson-participants (including subscribers to the FSA's website), so that the participants gain financial knowledge/skills/attitudes necessary to make appropriate financial decisions in terms of their long-term personal asset building.
- Laws & RegulationsPage list
- Name of Laws and Regulations(PDF)
- Financial Instruments and Exchange Act
- Recent Changes
- Public Comment
- No Action Letter System
- Procedures concerning Foreign Account Management Institutions
- PrinciplesPage list
- Strategic Directions and Priorities
- Progress and Assessment of the Strategic Directions and Priorities
- Policy Approaches to Strengthen Cyber Security in the Financial Sector
- Financial Monitoring Policy
- AnnouncementsPage list
- Press Conferences
- Press Releases
- Official Statements
- Great East Japan Earthquake-Related Information
- The Earthquake Centered in the Kumamoto Region of Kumamoto Prefecture 2016-Related Information
- List of Institutions
- For those engaging in High Speed Trading
- To Operators of Specially Permitted Businesses for Qualified Institutional Investors, etc.