FSA Weekly Review No.498 July 21, 2022

FSA Weekly Review No.498: July 21, 2022

What’s New on the FSA Website

Week of July 8, 2022 - July 14, 2022

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

Press Conferences

July 12, 2022	Press Conference by the Minister of State for Financial Services (June 21, 2022)
July 12, 2022	Press Conference by the Minister of State for Financial Services (June 17, 2022)
July 12, 2022	Press Conference by the Minister of State for Financial Services (June 10, 2022)

Public Comments

July 12, 2022	Invitation for Public Comments regarding “the Code of Conduct for ESG Evaluation and Data Providers”

Press Releases

Councils

July 13, 2022	"The Second Report by the Expert Panel on Sustainable Finance" Announced
July 12, 2022	Report of the Technical Committee for ESG Evaluation and Data Providers

Insurance

July 14, 2022	Administrative action against Manulife Life Insurance Company <Summary> The FSA took administrative action against Manulife Life Insurance Company, ordering the improvement of its business operations pursuant to the "Insurance Business Act." This administrative action is based on the findings from the onsite monitoring conducted by the FSA and from the mandatory reports filed by Manulife Life Insurance Company in response to the FSA's order to submit a report pertaining to the conduct of its business. The original press release is available in Japanese at the following URL. https://www.fsa.go.jp/news/r4/hoken/20220714-1/20220714-1.html
July 14, 2022	Further enhancement of collaboration between the FSA and the National Tax Agency to respond to the problematic status regarding insurance products offered mainly for the purpose of tax reduction (tax avoidance) <Summary> The FSA will further enhance collaboration with the National Tax Agency to respond to the problematic status regarding "insurance products offered mainly for the purpose of tax reduction (tax avoidance)," which deviate from the original intent of insurance policies. The collaboration will be mainly enhanced at stages of product screening and monitoring, thereby further promoting the protection of policyholders. The original press release is available in Japanese at the following URL. https://www.fsa.go.jp/news/r4/hoken/20220714-2/20220714-2.html

July 14, 2022

Administrative action against Manulife Life Insurance Company
<Summary>
The FSA took administrative action against Manulife Life Insurance Company, ordering the improvement of its business operations pursuant to the "Insurance Business Act."
This administrative action is based on the findings from the onsite monitoring conducted by the FSA and from the mandatory reports filed by Manulife Life Insurance Company in response to the FSA's order to submit a report pertaining to the conduct of its business.

The original press release is available in Japanese at the following URL.
https://www.fsa.go.jp/news/r4/hoken/20220714-1/20220714-1.html open new window

July 14, 2022

Further enhancement of collaboration between the FSA and the National Tax Agency to respond to the problematic status regarding insurance products offered mainly for the purpose of tax reduction (tax avoidance)
<Summary>
The FSA will further enhance collaboration with the National Tax Agency to respond to the problematic status regarding "insurance products offered mainly for the purpose of tax reduction (tax avoidance)," which deviate from the original intent of insurance policies. The collaboration will be mainly enhanced at stages of product screening and monitoring, thereby further promoting the protection of policyholders.

The original press release is available in Japanese at the following URL.
https://www.fsa.go.jp/news/r4/hoken/20220714-2/20220714-2.html open new window

Others

July 13, 2022	Bilateral meeting between Commissioner Nakajima and Ms. Janet Yellen, Secretary of the Treasury of the United States
July 12, 2022	Publication of “Discussion Paper – Study on Climate-related Scenarios Analysis: Characteristics of NGFS Scenarios and their Applications in Climate-related Financial Risk Analysis”
July 8, 2022	Partial revision of the "Reference Cases" regarding the "Independent Agent Exemption" of fund managers
July 8, 2022	Partial revision of the notice regarding the tax treatment of Carried Interest
July 8, 2022	Progress in Initiatives for Further Strengthening Coordination between the Financial Services Agency and the Bank of Japan

Site Map

About FSA Page list Open: Ministerial Team; Organization; Location; Pamphlet; Open Policy Lab
Press Releases & Public Relations Page list Open: Press Releases; Press Conferences; Official Statements; FSA Weekly Review & ACCESS FSA; Speeches; For Financial Users; Others; Archives
Policies & Councils Page list Open: Policies; Councils
Laws & Regulations Page list Open: Name of Laws and Regulations(PDF); Recent Changes (Legislation, Ordinances, Guidelines); Guidelines; Financial Instruments and Exchange Act; Financial Monitoring Policy; Public Comment; No-Action Letter System; Procedures concerning Foreign Account Management Institutions
Regulated Institutions Page list Open: List of Institutions; Administrative Action; Statistics; For those engaging in High Speed Trading; To Operators of Specially Permitted Businesses for Qualified Institutional Investors, etc.; Asia Region Funds Passport (ARFP)
FSA Weekly Review & ACCESS FSA Page list Open: Back Number (2022); Back Number (2021); Back Number (2020)

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