FSA Weekly Review No.596 July 25, 2024

FSA Weekly Review No.596: July 25, 2024

What’s New on the FSA Website

Week of July 12, 2024 - July 18, 2024

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

Public Comments

July 18, 2024	Publication of the draft amendments to the FSA's regulatory notices concerning the "designated IFRSs" for public consultation <Summary> The FSA proposed the draft amendments to the regulatory notices concerning the "designated International Financial Reporting Standards (IFRSs)" stipulated in the "Regulation for Terminology, Forms and Preparation of Consolidated Financial Statements" (hereinafter referred to as "the proposal") for public consultation. The proposal is mainly intended to reflect the financial standards that were newly added* or amended** by the International Accounting Standards Board (IASB) in the "designated IFRSs." * The standards newly added by the IASB are: - IFRS 18 Presentation and Disclosure in Financial Statements, and - IFRS 19 Subsidiaries without Public Accountability: Disclosures. ** The standards amended by the IASB are: - IFRS 7 Financial Instruments: Disclosures, and - IFRS 9 Financial Instruments. Public comments will be accepted until 5:00 p.m. [JST], August 19, 2024. The original press release is available in Japanese.

July 18, 2024

Publication of the draft amendments to the FSA's regulatory notices concerning the "designated IFRSs" for public consultation
<Summary>
The FSA proposed the draft amendments to the regulatory notices concerning the "designated International Financial Reporting Standards (IFRSs)" stipulated in the "Regulation for Terminology, Forms and Preparation of Consolidated Financial Statements" (hereinafter referred to as "the proposal") for public consultation.
The proposal is mainly intended to reflect the financial standards that were newly added* or amended** by the International Accounting Standards Board (IASB) in the "designated IFRSs."

* The standards newly added by the IASB are:

- IFRS 18 Presentation and Disclosure in Financial Statements, and

- IFRS 19 Subsidiaries without Public Accountability: Disclosures.

** The standards amended by the IASB are:

- IFRS 7 Financial Instruments: Disclosures, and

- IFRS 9 Financial Instruments.

Public comments will be accepted until 5:00 p.m. [JST], August 19, 2024.

The original press release is available in Japanese. open new window

Press Releases

Securities

July 17, 2024	Administrative action against THE WHY HOW DO COMPANY, Inc., ordering the submission of an amendment report for its securities report and an amendment statement for its securities registration statement <Summary> The Kanto Local Finance Bureau took an administrative action against THE WHY HOW DO COMPANY, Inc. for making false statements with respect to material matters in its securities report and securities registration statement, ordering the submission of an amendment report and an amendment statement respectively for its annual securities report (accounting period from September 1, 2018, to August 31, 2019) as of its 15th fiscal year, filed on November 27, 2019, and its securities registration statement, filed on May 28, 2020, pursuant to the "Financial Instruments and Exchange Act." This administrative action was taken in response to the recommendation dated June 25, 2024, from the Securities and Exchange Surveillance Commission for an administrative action against the said entity. Details of the administrative action are available (only in Japanese) on the subpage of the Kanto Local Finance Bureau's website. The original press release is available in Japanese.

July 17, 2024

Administrative action against THE WHY HOW DO COMPANY, Inc., ordering the submission of an amendment report for its securities report and an amendment statement for its securities registration statement
<Summary>
The Kanto Local Finance Bureau took an administrative action against THE WHY HOW DO COMPANY, Inc. for making false statements with respect to material matters in its securities report and securities registration statement, ordering the submission of an amendment report and an amendment statement respectively for its annual securities report (accounting period from September 1, 2018, to August 31, 2019) as of its 15th fiscal year, filed on November 27, 2019, and its securities registration statement, filed on May 28, 2020, pursuant to the "Financial Instruments and Exchange Act."
This administrative action was taken in response to the recommendation dated June 25, 2024, from the Securities and Exchange Surveillance Commission for an administrative action against the said entity.
Details of the administrative action are available (only in Japanese) on the subpage

of the Kanto Local Finance Bureau's website.

The original press release is available in Japanese. open new window

Others

July 18, 2024	Updated list of issuers of gift certificates in repayment procedures based on the "Payment Services Act"

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