Financial Services AgencyFSA Weekly Review No.505

September 15, 2022

What’s New on the FSA Website

Week of September 2, 2022 - September 8, 2022

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

Press Releases

International 

September 8, 2022 Updated : International Financial Center Website

Banks

September 8, 2022 Publication of "SME Revitalization Package NEXT" (provisional English title)
<Summary>
Aiming at the phase-in transition to the post-COVID-19 era, the FSA, in collaboration with METI (Ministry of Economy, Trade and Industry) and MoF (Ministry of Finance), jointly compiled and published "SME* Revitalization Package NEXT" (provisional English title), which further enhances the approaches set out in the "Revitalization Package for Small- and Medium-Sized Enterprises" (provisional English title) that they formerly compiled and published in March 2022.
 
"SME Revitalization Package NEXT" mainly highlights the following two objectives:

1.Enhancement of financial support for SMEs in light of changes in the economic environment, and

2.Further acceleration of comprehensive support for improving SMEs' profitability, business revitalization, and re-engineering (business reboot/re-startup). 

*SME stands for small- and medium-sized enterprise.

 
(An PDFoutline of the "SME Revitalization Package Next"open new window is available in Japanese).

The original press release is available in Japanese at the following URL.
https://www.fsa.go.jp/news/r4/ginkou/20220908.htmlopen new window
September 5, 2022 Approval of the business adaptation plan for The Hyakujushi Bank, Ltd.
<Summary>
The FSA approved and published the business adaptation plan for The Hyakujushi Bank, Ltd., based on the "Industrial Competitiveness Enhancement Act."

The original press release is available in Japanese at the following URL.
https://www.fsa.go.jp/news/r4/ginkou/20220905/20220905.htmlopen new window

Securities

September 2, 2022 Administrative penalty charge against Asia Development Capital Co. Ltd. for making false statements in its securities reports and so forth
<Summary>
On September 1, 2022, the FSA issued an order to impose an administrative penalty charge against Asia Development Capital Co. Ltd. for making false statements in its securities reports and so forth, in violation of the "Financial Instruments and Exchange Act."

The original press release is available in Japanese at the following URL.
https://www.fsa.go.jp/news/r4/shouken/20220901-2.htmlopen new window
September 2, 2022 Administrative penalty charge against a foreign domiciled individual for committing insider trading regarding stocks of INNOTECH CORPORATION, by using insider information learned as an officer of the contract negotiator with INNOTECH CORPORATION
<Summary>
On September 1, 2022, the FSA issued an order to impose an administrative penalty charge against a foreign domiciled individual for committing insider trading regarding stocks of INNOTECH CORPORATION, by using information learned as an officer of the contract negotiator with INNOTECH CORPORATION, in violation of the "Financial Instruments and Exchange Act."

The original press release is available in Japanese at the following URL.
https://www.fsa.go.jp/news/r4/shouken/20220901-1.htmlopen new window
September 2, 2022 Administrative penalty charge against KITA KOUDENSHA Corporation for making false statements in its securities reports and so forth
<Summary>
On September 1, 2022, the FSA issued an order to impose an administrative penalty charge against KITA KOUDENSHA Corporation for making false statements in its securities reports and so forth, in violation of the "Financial Instruments and Exchange Act."

The original press release is available in Japanese at the following URL.
https://www.fsa.go.jp/news/r4/shouken/20220901-3.htmlopen new window
September 2, 2022 Administrative penalty charge against an individual for market manipulation regarding stocks of KYOSHA CO., LTD.
<Summary>
On September 1, 2022, the FSA issued an order to impose an administrative penalty charge against an individual for market manipulation regarding stocks of KYOSHA CO., LTD., in violation of the "Financial Instruments and Exchange Act."

The original press release is available in Japanese at the following URL.
https://www.fsa.go.jp/news/r4/shouken/20220901-4.htmlopen new window

Others

September 7, 2022 The 3rd Japan-China Capital Markets Forum was Held Online
September 6, 2022 Overview of a questionnaire survey to ascertain the status of and issues related to opening deposit accounts at financial institutions using birth names or original family names (as opposed to using married names) [from the gender-neutral perspective] 
<Summary>
In line with the Japanese government's policy initiatives to expand the use of birth names or original family names (as opposed to using  married names) and to raise awareness of this matter[from the gender-neutral perspective], the FSA published an PDFoverview of the results of a questionnaire survey (available only in Japanese)open new window, which was jointly conducted alongside the Gender Equality Bureau of the Cabinet Office to ascertain the status of and issues pertaining to the opening of deposit accounts using birth names or original family names (as opposed to using married names) at depositary financial institutions.
The survey found that approximately 70% of banks and 60% of shinkin banks (credit unions) allow the opening of deposit accounts under birth names or original family names (as opposed to married names), and that the most common reason for not accepting such a request is "concerns about anti-money laundering and combating terrorism financing."

The original press release is available in Japanese at the following URL.
https://www.fsa.go.jp/news/r4/ginkou/20220906.htmlopen new window
September 2, 2022 Administrative Action against REVOLUT TECHNOLOGIES JAPAN, Inc. 

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