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FSA Weekly Review No.594
- July 11, 2024
What’s New on the FSA Website
Week of June 28, 2024 - July 4, 2024
This page contains the latest in events, developments, and updates to the FSA website.
Public Comments
July 3, 2024 | Publication of the draft amendments to the "Points to Note on Disclosure of Corporate Affairs, etc. (Guidelines for Disclosure of Corporate Affairs, etc.)" (provisional English title) for public consultation <Summary> The FSA published the draft amendments (hereinafter referred to as the "proposal") to the "Points to Note on Disclosure of Corporate Affairs, etc. (Guidelines for Disclosure of Corporate Affairs, etc.)" [provisional English title] for public consultation. The proposal mainly pertains to the treatment of approval of due dates for annual securities reports and other relevant reports. Public comments will be accepted until 5:00 p.m. (JST), August 2, 2024. The original press release is available in Japanese. ![]() |
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July 2, 2024 | Publication of the draft amendments to the "Principles for Customer-Oriented Business Conduct" for public consultation <Summary> The FSA proposed the draft amendments to the "Principles for Customer-Oriented Business Conduct" (hereinafter referred to as the proposal) for public consultation. The proposal mainly intends to reflect the recommendations made in the ![]() ![]() Public comments will be accepted until 5:00 p.m. (JST), August 1, 2024. The original press release is available in Japanese. ![]() |
June 28, 2024 | Publication of the draft "Cabinet Office Order to Amend the Regulation for Enforcement of the Banking Act” and others for public consultation <Summary> The FSA published the draft "Cabinet Office Order to Amend the Regulation for Enforcement of the Banking Act" and others (hereinafter collectively referred to as the "proposal") for public consultation. The proposal is intended to provide amendments in response to requests for deregulation from the financial sector and relevant industry organizations. In particular, the proposal is mainly intended to set forth the following: 1. Clarification of treatment of voting rights with respect to LP (Limited Partnership) investment in offshore partnerships, etc. [Amendments to the "Regulation for Enforcement of the Banking Act, etc." and the "Regulation for Enforcement of the Insurance Business Act"] 2. Easing of requirements such as the number of years since establishment of venture business companies in which specified subsidiary companies of banks, etc. (subsidiaries specializing in investment) can invest [Amendments to the "Regulation for Enforcement of the Banking Act, etc." and the "Regulation for Enforcement of the Insurance Business Act"] 3. Widening of the scope of concurrent business (consulting business, etc.) of specified subsidiary companies of banks, etc. (subsidiaries specializing in investment). [Amendments to the "Regulation for Enforcement of the Banking Act, etc." and the "Regulation for Enforcement of the Insurance Business Act"]. 4. Review of "Notification of Changes (Notification of Change of Details of Concurrent Holding of Positions by Directors and Officers, etc. " for bank agents. [Amendments to the "Regulation for Enforcement of the Banking Act, etc."] 5. Necessary consequential amendments to applicable provisions in response to the above amendments to the Ministerial Orders, etc. [Amendments to the "Regulation for Enforcement of the Banking Act, etc."] 6. Necessary consequential amendments to forms, etc. for notification of change of banking agents in response to the amendments to relevant and applicable Ministerial Orders, etc. [Updates to the "Comprehensive Guidelines for Supervision of Major Banks, etc." (including forms), etc.] Public comments will be accepted until 12:00 p.m. (noon time) [JST], July 29, 2024. The original press release is available in Japanese. ![]() |
June 28, 2024 | Publication of the draft "Points to Note Regarding Disclosure of a Tender Offer (Guidelines for Disclosure of a Tender Offer)" [provisional English title] for public consultation <Summary> The FSA proposed the draft "Points to Note Regarding Disclosure of a Tender Offer (Guidelines for Disclosure of a Tender Offer)" [provisional English title] (hereinafter referred to as the "proposal") for public consultation. The proposal is intended to provide the Kanto Local Finance Bureau, which examines disclosure documents regarding a tender offer for share certificates, etc. by persons other than issuers, with points to note in the screening of such documents, as well as to set out approaches in assessing disclosure items, etc. required to be included in the documents under the applicable laws and regulations. Public comments will be accepted until 5:00 p.m. [JST], July 29, 2024. The original press release is available in Japanese. ![]() |
June 28, 2024 | Publication of the draft amendments to the "Comprehensive Guidelines for Supervision of Major Banks, etc." and other relevant and applicable Guidelines, alongside the draft "Guidelines for Cybersecurity in the Financial Sector" (provisional English title) for public consultation <Summary> The FSA proposed the draft amendments to the "Comprehensive Guidelines for Supervision of Major Banks, etc." and other relevant and applicable Guidelines, alongside the draft "Guidelines for Cybersecurity in the Financial Sector" (provisional English title) [hereinafter collectively referred to as the "proposal"] for public consultation. The proposal is aimed at addressing the escalation of cyber risks in recent years. Public comments will be accepted until 5:00 p.m. (JST), July 29, 2024. The original press release is available in Japanese. ![]() |
Press Releases
Policies
July 1, 2024 | Updated:Initiatives by the financial industry to enhance their asset management businesses |
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June 28, 2024 | Publication of an ex-ante valuation report based on regulatory impact analysis (RIA) in regard to the easing of disclosure regulations for stock compensation <Summary> The FSA published an ex-ante evaluation report based on regulatory impact analysis (RIA)* in regard to the easing of disclosure regulations for stock compensation pursuant to the "Government Policy Evaluations Act." *RIA is a methodology aimed at improving the objectivity and transparency of regulations by objectively analyzing the impact of the introduction or revision of regulations in respect of the expected implementation costs and effects, etc., and by disclosing the results. In this regard, competition assessment estimates and evaluates the impact on the competitive status based on the benefits and burdens incurred by the establishment, revision, or abolition of a regulation. The original press release is available in Japanese. ![]() |
Councils
July 2, 2024 | Publication of the "Report of the Working Group on Financial Markets of the Financial System Council - Toward the Establishment of Financial Product Governance" (provisional English report title) <Summary> The FSA published the ![]() ![]() The report will hereafter be presented at the general meeting of the Financial System Council and the meeting of the Sectional Committee on Financial System. The original press release is available in Japanese. ![]() |
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Banks
July 4, 2024 | New web portal for information on key takeaways of business support methods for respective industries launched at TEIKOKU DATABANK, Ltd. <Summary> The FSA has been implementing a project (newly commissioned to TEIKOKU DATABANK, Ltd.) to enhance and instill in the financial sector the use of key takeaways of business support methods for respective industries, aimed at encouraging on-site personnel of regional financial institutions to enhance their ability to provide efficient financing and consulting services for corporate clients (corporate borrowers) by business sector type. In this regard, TEIKOKU DATABANK, Ltd. launched a web portal ![]() The original press release is available in Japanese. ![]() |
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June 28, 2024 | Overview of modifications to lending conditions by financial institutions <Summary> The FSA published an overview of modifications to lending conditions made by financial institutions for the period from March 10, 2020 to May 31, 2024. * The majority of the data reflects the data until May 31, 2024, whereas the data of cooperative financial institutions reflects the data until March 31, 2024. The original press release is available in Japanese. ![]() |
June 28, 2024 | Publication of "Progress Report on the Efficiency of Financial Intermediation" <Summary> The FSA published ![]() ![]() The original press release is available in Japanese. ![]() |
June 28, 2024 | Publication of a report on "Situation and Challenges for Regional Banks to provide better services for their Corporate Clients" <Summary> The FSA published a report on ![]() ![]() The original press release is available in Japanese. ![]() |
June 28, 2024 | Publication of the results of a corporate questionnaire survey <Summary> The FSA published ![]() ![]() * Questionnaire survey on small and medium-sized enterprises that receive financing mainly from regional financial institutions. The original press release is available in Japanese. ![]() |
Securities
June 28, 2024 | Administrative monetary penalty against an individual for committing insider trading regarding stocks of Kozosushi Co., LTD., by using insider information learned as an officer of the entity <Summary> On June 27, 2024, the FSA issued an order to impose an administrative monetary penalty against an individual for committing insider trading regarding stocks of Kozosushi Co., LTD.,* by using information learned as an officer of the entity, in violation of the "Financial Instruments and Exchange Act." *This English corporate name has been changed to KOZO Holdings Co., Ltd. since July 1, 2024. The original press release is available in Japanese. ![]() |
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Insurance
July 3, 2024 | Publication of the summary of "Annual Report on Insurance Monitoring 2024" |
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June 28, 2024 | Results of additional investigation on prearrangement of corporate insurance premiums conducted by four major non-life insurance companies <Summary> The FSA has published the results of additional investigation on prearrangement of corporate insurance premiums conducted by four major non-life insurance companies*. The results are mainly based on the improvement reports filed by the non-life insurance companies in response to the business improvement orders issued by the FSA based on the "Insurance Business Act" on December 26, 2023 * Aioi Nissay Dowa Insurance Co., Ltd., Sompo Japan Insurance Inc., Tokio Marine & Nichido Fire Insurance Co., Ltd., and Mitsui Sumitomo Insurance Company, Limited The original press release is available in Japanese. ![]() |
Others
July 1, 2024 | Completion of support for the fourth project of "Frontrunner Support-Hub on Enterprise System" <Summary> The FSA has announced the completion of support for the fourth project of "Frontrunner Support-Hub* on Enterprise System" established in March 2020, thereby publishing the overall summary report of the fourth project including underlying key issues related to IT governance and risk management in monitoring, which have been clarified through the provision of support from the Support-Hub. The Support-Hub has provided support for financial institutions' innovative approaches/initiatives for enterprise systems, particularly in system monitoring of IT governance and IT-related risk management, in addition to functions such as legal interpretation (regulatory applicability). * The Support-Hub has been upgraded with enhanced functions to "Frontrunner Support Desk on Financial Institution's Computer Systems" The original press release is available in Japanese. ![]() |
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July 1, 2024 | Progress in Common Data Platform and Next Steps |
June 28, 2024 | Publication of the level of remuneration paid to the officers of the authorized corporations <Summary> The FSA published the level of remuneration paid to the officers of the authorized corporations under its jurisdiction: Deposit Insurance Corporation of Japan, and Banks’ Shareholdings Purchase Corporation. Such information is subject to disclosure on an annual basis by respective competent government agencies and is required to be presented on the format designated by the Ministry of Internal Affairs and Communications. The original press release is available in Japanese. ![]() |
June 28, 2024 | Publication of a report on the current status and challenges regarding anti-money laundering and counter financing of terrorism in Japan (as of June 2024) <Summary> The FSA has published a report on the current status and challenges regarding anti-money laundering and counter financing of terrorism (hereinafter referred to as "AML/CFT") in Japan (as of June 2024). The report summarizes the status and progress of financial institutions’ AML/CFT regimes and the FSA's AML/CFT policies as of June 2024. The original press release is available in Japanese. ![]() |
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