What’s New on the FSA Website

Week of December 14, 2020 - December 18, 2020

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

Press Conferences

December 15, 2020	Press Conference by the Minister for Financial Services (December 1, 2020) Japanese version
December 15, 2020	Press Conference by the Minister for Financial Services (November 27, 2020) Japanese version
December 15, 2020	Press Conference by the Minister for Financial Services (November 20, 2020) Japanese version
December 15, 2020	Press Conference by the Minister for Financial Services (November 20, 2020) Japanese version

Press Releases

(The following press releases are available in English)

Banks

December 17, 2020	Bank of Japan Review: Supervisory Simultaneous Stress Testing Based on Common Scenarios

 

Insurance

December 15, 2020	NAIC-FSA Insurance Dialogue held in WebEx

 

 

Others

December 18, 2020	Publication of the “Board Effectiveness and Ensuring Diversity in the Core Human Resources in Companies for Post-COVID Transformation of Companies”

 

(The following press releases are available in Japanese)

Councils

December 18, 2020	Publication of the agenda and handouts of the first meeting of the "Task Force to Discuss Optimal Ways to Ensure Best Execution" of the Financial System Council <Summary> The FSA published the agenda and handouts of the first meeting of the "Task Force to Discuss Optimal Ways to Ensure Best Execution" of the Financial System Council which was held on December 18, 2020.
December 16, 2020	Publication of the proceedings and handouts of the seventh meeting of the "Working Group on Japanese Banking System" of the Financial System Council <Summary> The FSA published the proceedings and handouts of the seventh meeting of the "Working Group on Japanese Banking System" of the Financial System Council, which was held on December 16, 2020.
December 16, 2020	Publication of the agenda and handouts of the third meeting of the "Study Group on Lending and Business Turnaround Practices to Support Corporate Borrowers’ Business Enhancement" (provisional English title) <Summary> The FSA published the agenda and handouts of the third meeting of the "Study Group on Lending and Business Turnaround Practices to Support Corporate Borrowers’ Business Enhancement" (provisional English title) which was held on December 16, 2020.

 

Banks

December 18, 2020

Request for financial measures to deal with disasters caused by the heavy snow which started on December 16, 2020 (The Kanto Local Finance Bureau) <Summary> On December 17, 2020, the Kanto Local Finance Bureau and the Bank of Japan’s Niigata Branch issued a joint statement titled "Financial Measures to Deal with Disasters Caused by the Heavy Snow Which Started on December 16, 2020" to the relevant financial institutions. The statement requests financial institutions in Niigata Prefecture to appropriately deal with victims of the disaster considering their circumstances, such as by making the repayment of deposits flexible.

December 17, 2020 December 16, 2020 December 15, 2020

Request for financial measures to deal with the outbreak of highly pathogenic avian flu (HPAI) in Shiga Prefecture and Kochi Prefecture (The Kinki Local Finance Bureau and The Shikoku Local Finance Bureau) (1) (2), and the same request from the FSA to the relevant financial associations (3) <Summary> The Kinki Local Finance Bureau and The Shikoku Local Finance Bureau issued the statements "Financial Measures in Response to the Report on the Subspecies of Highly Pathogenic Avian Influenza (HPAI)" to relevant financial institutions in Shiga Prefecture and Kochi Prefecture, respectively on December 14 and 16, 2020. The statements request 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. In view of the potential spread of HPAI across the nation, on December 17, 2020, the FSA has issued a statement with the same name of the aforementioned statements to the relevant financial associations* to ensure their members (financial institutions) to cooperate with the respective competent local authorities, and appropriately deal with HPAI-affected parties in the same manner as quoted in the aforementioned statements issued by the Local Finance Bureaus. *Japanese Bankers Association, Regional Banks Association of Japan, The Second Association of Regional Banks, The National Association of Shinkin Banks, National Central Society of Credit Cooperatives, The Norinchukin Bank, and The Shoko Chukin Bank, Ltd.

 

Securities

December 18, 2020	Publication of the updated regulatory notice concerning the designation of related corporations of credit rating agencies (group-based designation concerning explanatory items of unregistered credit ratings) <Summary> The FSA published the updated regulatory notice concerning the designation of related corporations of credit rating agencies (group-based designation concerning explanatory items of unregistered credit ratings), whereby the FSA  updated the list of designated credit rating agencies (unregistered credit rating agencies which belong to the same group of registered credit rating agencies and fulfill the requirements). The duty of securities companies to explain certain matters to their customers is partially alleviated when securities companies use credit ratings provided by the credit rating agencies that are on the said list. The updated list will take effect on January 1, 2021.
December 16, 2020	Administrative penalty charge against ISHIGAKI FOODS CO.,LTD. for making false statements in its securities reports <Summary> On December 15, 2020, the FSA issued an order to impose an administrative penalty charge against ISHIGAKI FOODS CO.,LTD. for making false statements in its securities reports.
December 16, 2020	Administrative penalty charge against an individual (non-insider) for committing insider trading regarding stocks of SOFTMAX CO., LTD by using insider information received from an officer of the entity <Summary> On December 15, 2020, the FSA issued an order to impose an administrative penalty charge against an individual (non-insider) for committing insider trading regarding stocks of SOFTMAX CO., LTD by using information received from an officer of the entity.

 

Others

December 17, 2020

Publication of the FSA's FY 2020 third supplementary budget draft <Summary> The FSA published an outline of its FY 2020 third supplementary budget draft on its website. The FSA aims to allocate 4.13 billion yen (40.1 million USD) for its third supplementary budget draft to implement its comprehensive economic measures for security and hope which protect people's lives and livelihood. The FSA's economic measures are to be carried out by implementing the following key initiatives: ‐To establish a digital government by promoting digitization of financial filings, formulating common financial reporting template formats, and creating a one-stop financial reporting portal ‐To promote a new inflow of human resources from large companies to small- and medium-sized enterprises, including management mentors into regional enterprises, and ‐To realize "Japan as a global financial center," such as by establishing a "Support Network for Startups in the Financial Sector."