What’s New on the FSA Website

Week of March 15, 2021 - March 19, 2021

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

Public Comments

(The following public comments are available in Japanese)

March 19, 2021

Publication of the finalized amendments to the applicable cabinet orders, cabinet office orders, and others pertaining to the 2020 revision of the "Payment Services Act" <Summary> The FSA finalized the amendments to the applicable cabinet orders, cabinet office orders, and others pertaining to the 2020 revision of the "Payment Services Act." The finalized amendments update the regulatory system for the funds transfer service and prepaid payment instruments. The amendments will be enforced on May 1, 2021.

March 19, 2021

Publication of the finalized amendments to the applicable cabinet office orders and regulatory notices pertaining to the 2020 revision of the "Financial Instruments and Exchange Act" <Summary> The FSA finalized the amendments to the applicable cabinet office orders and regulatory notices pertaining to the 2020 revision of the "Financial Instruments and Exchange Act." The finalized amendments mainly reflect the amendments to the said Act in regard to over-the-counter (OTC) derivatives transactions conducted by financial instruments clearing organizations, financial instruments business operators, or others, by setting forth rules for the frequency and means of providing data on centrally cleared- and/or non-centrally cleared-transactions to trade-repositories. The amendments will be enforced on May 1, 2021.

Press Releases

(The following press releases are available in English)
Others

March 18, 2021	The Announcements Pertaining to Global Money Week 2021

(The following press releases are available in Japanese)

Councils

March 19, 2021	Publication of the agenda and handouts of the 50th meeting of the Audit Standard Committee of the Business Accounting Council <Summary> The FSA published the agenda and handouts of the 50th meeting of the Audit Standard Committee of the Business Accounting Council, which was held on March 22, 2021.

 

Securities

March 19, 2021

Decision rendered by trial examiners in an administrative penalty case to the effect that the fact that an employee of Japan Drilling Co., Ltd. recommended a non-insider to sell stocks of the entity in violation of the "Financial Instruments and Exchange Act" could not be recognized <Summary> On March 19, 2021, the FSA announced that trial examiners rendered a decision in a trial of an administrative penalty case to the effect that the fact that an employee of Japan Offshore Drilling Co., Ltd.* violated the "Financial Instruments and Exchange Act" by recommending a non-insider to sell stocks of the entity based on insider information obtained by the employee of the entity could not be recognized. * Japan Drilling Co., Ltd. was delisted in July 2018.

March 19, 2021

Administrative action against Seiki Ka-A Investment Kabushiki Kaisha,* a notifier of specially permitted business for qualified institutional investors (SPBQII) which failed to file the mandatory business reports to the authorities (The Kanto Local Finance Bureau) <Summary> The Kanto Local Finance Bureau took an administrative action against Seiki Ka-A Investment Kabushiki Kaisha,* a notifier of specially permitted business for qualified institutional investors (SPBQII) which failed to file the mandatory business reports with the Kanto Local Finance Bureau, ordering the improvement of the notifier's business operation pursuant to the "Financial Instruments and Exchange Act. * As this corporation has no English corporate name, the Romanized version of the Japanese corporate name is stated here.

Others

March 18, 2021	Publication of "Unko Money Drill" (Unko Drill x the FSA), an online fun drill for elementary school students to learn about financial literacy <Summary>　 The FSA, in collaboration with the editorial team of the "Unko Drill" (so-called "Poop Workbook" featuring a famous "Yuru-kyara," i.e., a cute-fun cartoon mascot) series popular among children published by Bunkyosha Co., Ltd., has created and published the online "Unko Money Drill" (Unko Drill x the FSA), an online fun drill (workbook) for elementary school students to learn about financial literacy. The book was created in response to comments received from students that they wished they had learned about finance earlier, in the course of conducting on-site and online classes at universities, colleges, and high schools as part of the FSA's efforts to promote financial and economic education.
March 16, 2021	Publication of the FAQ on applying transitional measures for OTC (Over the Counter) derivatives transactions rules to legacy OTC transactions whose interest rate benchmarks are replaced with alternative benchmark rates in response to the cessation of LIBOR (London Interbank Offered Rate) <Summary> The FSA updated the one-stop access page for the information on OTC (Over-the-Counter) derivatives transactions rules* with the publication of the FAQ on applying transitional measures for OTC derivatives transactions rules to OTC derivatives transactions concluded prior to the effective date of the OTC derivatives transactions rules, in which such transactions are referred to as "legacy OTC transactions" whose interest rate benchmarks are replaced with alternative benchmark rates in response to the cessation of LIBOR (London Interbank Offered Rate). While legacy transactions are exempted from such rules, the FAQ mainly outlines the FSA's perspective on the application of transitional measures for legacy OTC transactions in replacing LIBOR with alternative benchmark rates in response to the cessation of LIBOR. * Rules for centralization of clearing, reporting trade repositories, electronic trading platform management, and margin requirements.
March 15, 2021	Publication of the updated "Easy-to-Understand Guide on Tsumitate NISA (Dollar-Cost Averaging NISA)" <Summary> The FSA has updated the "Easy-to-Understand Guide on Tsumitate NISA (Dollar-Cost Averaging NISA)," a quick investment guide for novice investors. The updates mainly pertain to technical amendments associated with the FY 2021 Tax Reform.
March 15, 2021	Publication of the updated "Guidelines for Administrative Processes" regarding specified joint real estate ventures <Summary> The FSA has updated the "Guidelines for Administrative Processes" regarding specified joint real estate ventures. The updates are technical amendments mainly pertaining to the addition of some examples of work incidental to special ventures from the perspective of promoting environmental, social, and corporate governance (ESG) investment, and to the addition of a calculation method for the price of a subject real estate in the explanation prior to the conclusion of the real estate specified joint venture contract from the perspective of ensuring further governance in real estate specified joint ventures. The updates will take effect from March 31, 2021.