FSA Weekly Review No.611 November 15, 2024

FSA Weekly Review No.611: November 15, 2024

What’s New on the FSA Website

Week of November 1, 2024 - November 7, 2024

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

Press Conferences

November 7, 2024	Ad Hoc Press Conference by the Minister of State for Financial Services (October 23, 2024)

Public Comments

November 6, 2024	Publication of the finalized "Order to Amend the Order Regarding Account Management Institutions" after public consultation <Summary> The FSA published the finalized "Order to Amend the Order Regarding Account Management Institutions" after public consultation. The finalized Order provides necessary amendments to the "Order Regarding Account Management Institutions" to allow a foreign account management institution to become a superior institution to a domestic account management institution, provided that certain requirements are met, thereby enabling domestic investors to use a payment service platform of a foreign account management institution through a domestic account management institution. The finalized Order was enforced on November 6, 2024. The original press release is available in Japanese.

November 6, 2024

Publication of the finalized "Order to Amend the Order Regarding Account Management Institutions" after public consultation
<Summary>
The FSA published the finalized "Order to Amend the Order Regarding Account Management Institutions" after public consultation.
The finalized Order provides necessary amendments to the "Order Regarding Account Management Institutions" to allow a foreign account management institution to become a superior institution to a domestic account management institution, provided that certain requirements are met, thereby enabling domestic investors to use a payment service platform of a foreign account management institution through a domestic account management institution.

The finalized Order was enforced on November 6, 2024.

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

Press Releases

International

November 5, 2024	"Japan Fintech Week 2025" website is now officially launched

Councils

November 6, 2024	Publication of the agenda and handouts of the fourth meeting of the "Working Group on Payment Services System, etc." under the Financial System Council <Summary> The FSA published the agenda and handouts of the fourth meeting of the "Working Group on Payment Services System, etc." under the Financial System Council, which was held on November 7, 2024. In the fourth meeting, the secretariat (i.e. the FSA) gave a briefing on cross-border collection agent services, donations by means of prepaid payment instruments, and the Order of Retention of Assets within Japan, etc. in cryptoasset exchange services and electronic payment instruments services, followed by a discussion among the Working Group members. The original press release is available in Japanese.

November 6, 2024

Publication of the agenda and handouts of the fourth meeting of the "Working Group on Payment Services System, etc." under the Financial System Council
<Summary>
The FSA published the agenda and handouts of the fourth meeting of the "Working Group on Payment Services System, etc." under the Financial System Council, which was held on November 7, 2024.
In the fourth meeting, the secretariat (i.e. the FSA) gave a briefing on cross-border collection agent services, donations by means of prepaid payment instruments, and the Order of Retention of Assets within Japan, etc. in cryptoasset exchange services and electronic payment instruments services, followed by a discussion among the Working Group members.

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

Banks

November 5, 2024	Warning against fraudulent entities claiming to be under commission from the FSA and/or to represent the DGL, a general incorporated association for coordinating and providing support-services for victims of the Great East Japan Earthquake and other natural disasters based on the "Guidelines for Debt Consolidation for Victims of Natural Disasters" (provisional English title) <Summary> The FSA and the DGL (URL: https://www.dgl.or.jp/), a general incorporated association for coordinating and providing support-services (including debt consolidation related services) to victims of the Great East Japan Earthquake and other natural disasters based on the "Guidelines for Debt Consolidation for Victims of Natural Disasters" [provisional English title] (hereinafter referred to as the "Guidelines"), jointly alerted the public to be aware of fraudulent entities claiming to be under commission of the FSA and/or to represent the DGL in regard to the use of the Guidelines. While the existence of fraudulent websites purporting to be the DGL is ascertained, the FSA and the DGL stress that such websites are in NO way affiliated with the FSA or the real DGL, and that the FSA and the DGL do NOT outsource any services related to the Guidelines to any other entity, thereby alerting the public to be aware of fraudulent entities demanding remuneration under the guise of support using the Guidelines. The FSA and the DGL also stress that users of services* based on the Guidelines receive support "free of charge" from support-professionals (such as attorneys, and so forth) "registered" with the DGL, and are NOT required to pay any remuneration to "registered" support professionals. *Services coordinated by the DGL include the appointment of registered support professionals and payment of their remuneration. Such services are solely conducted by the DGL. The original press release is available in Japanese.

November 5, 2024

Warning against fraudulent entities claiming to be under commission from the FSA and/or to represent the DGL, a general incorporated association for coordinating and providing support-services for victims of the Great East Japan Earthquake and other natural disasters based on the "Guidelines for Debt Consolidation for Victims of Natural Disasters" (provisional English title)
<Summary>
The FSA and the DGL open new window

(URL: https://www.dgl.or.jp/), a general incorporated association for coordinating and providing support-services (including debt consolidation related services) to victims of the Great East Japan Earthquake and other natural disasters based on the "Guidelines for Debt Consolidation for Victims of Natural Disasters" [provisional English title] (hereinafter referred to as the "Guidelines"), jointly alerted the public to be aware of fraudulent entities claiming to be under commission of the FSA and/or to represent the DGL in regard to the use of the Guidelines.
While the existence of fraudulent websites purporting to be the DGL is ascertained, the FSA and the DGL stress that such websites are in NO way affiliated with the FSA or the real DGL, and that the FSA and the DGL do NOT outsource any services related to the Guidelines to any other entity, thereby alerting the public to be aware of fraudulent entities demanding remuneration under the guise of support using the Guidelines.

The FSA and the DGL also stress that users of services* based on the Guidelines receive support "free of charge" from support-professionals (such as attorneys, and so forth) "registered" with the DGL, and are NOT required to pay any remuneration to "registered" support professionals.

*Services coordinated by the DGL include the appointment of registered support professionals and payment of their remuneration. Such services are solely conducted by the DGL.

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

Others

November 6, 2024	Call for participation in a public symposium of the Public-Private-Academic Networking Meeting on Climate-related Risks in Japan <Summary> The FSA, as a host agency alongside other host ministries and a research institute* from the public sector, announced a call for participation in a public symposium of the Public-Private-Academic Networking Meeting on Climate-related Risks in Japan** scheduled to be held on November, 27, 2024, mainly aimed at discussing the use of climate-related data in sustainability disclosure and practices to identify and address "risks and opportunities." * The other host ministries and research institute are: Ministry of the Environment; Ministry of Education, Culture, Sports, Science and Technology; Ministry of Land, Infrastructure, Transport and Tourism; and National Institute for Environmental Studies. ** This meeting is mainly aimed at sharing corporate needs for climate-related information, enhancing a common information base by providing applicable information to meet those needs, and encouraging appropriate use of information on climate-related risks and opportunities through public-private-academic networking. From the private sector, companies that provide consulting services in terms of various forecasting regarding climate change and support for TCFD (Task Force on Climate-Related Financial Disclosures) join the network. The original press release is available in Japanese.
November 6, 2024	Announcement of the recipients of the 2024 Autumn Conferment of Decoration and Medals of Honor <Summary> The recipients of the 2024 Autumn Conferment of Decoration and Medals of Honor were announced on November 3, 2024, in response to the Cabinet decision set forth on October 25, 2024. From the jurisdiction of the FSA, decorations were conferred to 18 individuals, whereas medals of honor were conferred to 13 individuals. The lists of awardees of decorations and of medals of honor are available only in Japanese. The original press release is available in Japanese.

November 6, 2024

Call for participation in a public symposium of the Public-Private-Academic Networking Meeting on Climate-related Risks in Japan
<Summary>
The FSA, as a host agency alongside other host ministries and a research institute* from the public sector, announced a call for participation in a public symposium of the Public-Private-Academic Networking Meeting on Climate-related Risks in Japan** scheduled to be held on November, 27, 2024, mainly aimed at discussing the use of climate-related data in sustainability disclosure and practices to identify and address "risks and opportunities."

* The other host ministries and research institute are: Ministry of the Environment; Ministry of Education, Culture, Sports, Science and Technology; Ministry of Land, Infrastructure, Transport and Tourism; and National Institute for Environmental Studies.

** This meeting is mainly aimed at sharing corporate needs for climate-related information, enhancing a common information base by providing applicable information to meet those needs, and encouraging appropriate use of information on climate-related risks and opportunities through public-private-academic networking. From the private sector, companies that provide consulting services in terms of various forecasting regarding climate change and support for TCFD (Task Force on Climate-Related Financial Disclosures) join the network.

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

November 6, 2024

Announcement of the recipients of the 2024 Autumn Conferment of Decoration and Medals of Honor
<Summary>
The recipients of the 2024 Autumn Conferment of Decoration and Medals of Honor were announced on November 3, 2024, in response to the Cabinet decision set forth on October 25, 2024.
From the jurisdiction of the FSA, decorations were conferred to 18 individuals, whereas medals of honor were conferred to 13 individuals.
The lists of awardees of PDF

decorations open new window

and of

medals of honor open new window

are available only in Japanese.

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

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