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FSA Weekly Review No.631 - April 8, 2025
What’s New on the FSA Website
Week of March 28, 2025 - March 31, 2025
This page contains the latest in events, developments, and updates to the FSA website.
Public Comments
| March 31, 2025 | Results of the public consultation on the draft Cabinet Office Order Partially Amending the Regulation on Terminology, Forms and Preparation Methods of Financial Statements, etc. <Summary> In response to the publication of the draft amendment to the Accounting Standard for Corporate Taxes, Inhabitants Taxes, and Enterprise Taxes and other applicable accounting standards (ASBJ [Accounting Standards Board of Japan] Exposure Draft of Accounting Standard No.82 [draft amendment of ASBJ Statement No.27]), the FSA provided necessary amendments to the Regulation on Terminology, Forms and Preparation Methods of Financial Statements, etc. and the matters to be considered in handling the relevant Regulation (Guidelines for the Regulation on Financial Statements, etc.) and published the draft Cabinet Office Order for public consultation. The FSA published the results of the public consultation and the dates of promulgation and enforcement of the relevant Cabinet Office Order on March 31, 2025. The original press release is available in Japanese.  |
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| March 31, 2025 | Publication of the results of the public consultation on the draft Order Partially Amending the Regulation for Enforcement of the Norinchukin Bank Act <Summary> The FSA published the results of the public consultation on the draft Order Partially Amending the Regulation for Enforcement of the Norinchukin Bank Act. The Order intends to provide necessary amendments regarding the regulations on large credit exposures (LEX regulations) as follows. - Development of the calculation method for exposures in trading accounts of Norinchukin banks, etc., and - Other necessary amendments The original press release is available in Japanese. |
| March 31, 2025 | Publication of the results of the public consultation on the draft amendments to the Regulatory Notice Pertaining to Pillar 1 and Pillar 3 Requirements of Capital Adequacy <Summary> In order to provide necessary amendments to the regulatory notice pertaining to the Basel III Framework, which was finalized based on an international agreement "Recalibration of shocks in the interest rate risk in the banking book standard (IRRBB)" published by the Basel Committee on Banking Supervision (BCBS) in July 2024, and to set out technical amendments to the market risk assessment methodology, the FSA proposed the draft amendments for public consultation in January 2025, and published the amended Regulatory Notice and the results of the public consultation on March 31, 2025. The original press release is available in Japanese. |
| March 31, 2025 | Results of the public consultation on the draft Cabinet Office Order Partially Amending the Regulation on Calculation of Specific Purpose Trust Property <Summary> On March 31, 2025, the Cabinet Office Order Partially Amending the Regulation on Calculation of Specific Purpose Trust Property was promulgated. The Cabinet Office Order intends to provide necessary amendments to the Regulation on Calculation of Specific Purpose Trust Property, including the amendments to the definition of allowance for adjustment of beneficiary interests in special purpose trusts. The Cabinet Office Order was enforced on April 1, 2025. The original press release is available in Japanese. |
| March 31, 2025 | Order Partially Amending the Regulation for Enforcement of the Deposit Insurance Act and Order Partially Amending the Regulation for Enforcement of the Agricultural and Fishery Cooperatives Savings Insurance Act <Summary> Necessary amendments were made to the Order Partially Amending the Regulation for Enforcement of the Deposit Insurance Act and the Order Partially Amending the Regulation for Enforcement of the Agricultural and Fishery Cooperatives Savings Insurance Act, accompanying the enforcement of the Act Partially Amending the Basic Act on the Formation of a Digital Society to Improve the Convenience of Persons Involved in Administrative Procedures through the Use of Information and Communications Technology and to Simplify and Improve Efficiency of Administrative Operations, etc. The Orders were promulgated on March 31 and were enforced on April 1, 2025. The original press release is available in Japanese. |
| March 31, 2025 | Publication of the finalized Discussion Paper on "Issues and Practices for Dialogue on Validation of Effectiveness of AML/CFT Frameworks" |
| March 28, 2025 | Cabinet Office Order Partially Amending the Regulation for Enforcement of the Banking Act and others <Summary> On March 28, 2025, the Cabinet Office Order Partially Amending the Regulation for Enforcement of the Banking Act and others were promulgated. Major amendments are as follows. 1. The amendment to add an account, titled "Corporation Taxes on International Minimum Taxable Value" (provisional English title) to the profit and loss statement, in response to amendments to "Practical Solution No.46, the Accounting for and Disclosure of Current Taxes Related to the Global Minimum Tax Rules" 2. The amendment of the appended forms of the Regulation for Enforcement of the Shinkin Bank Act to make it unnecessary to fill in the columns for individuals and corporations with respect to "undisposed interests" in a statutory business report (appended forms of the Regulation for Enforcement of the Shinkin Bank Act) 3. The amendment accompanying the amendment, etc. of the Regulatory Notice Pertaining to Pillar 1 and Pillar 3 Requirements of Capital Adequacy based on the finalized Basel III framework and other necessary amendments (appended forms of the Regulation for Enforcement of the Act on Financial Businesses by Cooperatives, etc.) These orders were enforced on March 31, 2025. The original press release is available in Japanese. |
| March 28, 2025 | Results of the public consultation on draft amendments to the Regulatory Notice Designating Financial Institutions Pursuant to the Provisions under Article 17 of the Act on Management of Deposit and Saving Accounts by Use of Individual Numbers Based on the Intention of Depositors <Summary> After undergoing the public consultation procedures, the FSA published the Regulatory Notice Designating Financial Institutions Pursuant to the Provisions under Article 17 of the Act on Management of Deposit and Saving Accounts by Use of Individual Numbers Based on the Intention of Depositors. The purpose is to newly establish a Regulatory Notice Designating Financial Institutions Specified by the Administrative Authority as Prescribed in Article 17 of the Act on Management of Deposit and Saving Accounts by Use of Individual Numbers Based on the Intention of Depositors by repealing the current Regulatory Notice Designating Financial Institutions Pursuant to the Provisions under Article 17 of the Act on Management of Deposit and Saving Accounts by Use of Individual Numbers Based on the Intention of Depositors (Regulatory Notice No.1 of 2024 of the Financial Services Agency, the Ministry of Finance, the Ministry of Health, Labour and Welfare, the Ministry of Agriculture, Forestry and Fisheries, and the Ministry of Economy, Trade and Industry). The new Regulatory Notice took effect on April 1, 2025. The original press release is available in Japanese. |
| March 28, 2025 | Results of the public consultation on the draft Cabinet Order and Cabinet Office Orders, etc. accompanying the amendments of the Financial Instruments and Exchange Act and the Act on Investment Trusts and Investment Corporations in 2024 <Summary> In relation to the Act Partially Amending the Financial Instruments and Exchange Act and the Act on Investment Trusts and Investment Corporations, which was enacted on May 15, 2024, the FSA conducted public consultation for developing the provisions of the relevant Cabinet Order and Cabinet Office Orders, etc. and published the results. The relevant Cabinet Order and Cabinet Office Orders, etc. will be enforced and take effect on Thursday, May 1, 2025. Major amendments are as follows. - Development of the provisions concerning the investment management business-related services entrusted to contractors - Development of the provisions concerning the investment management business, and - Development of the provisions concerning the specially permitted intermediary services regarding unlisted securities The original press release is available in Japanese. |
Press Releases
Councils
| March 28, 2025 | Publication of the agenda of the 26th meeting of the "Expert Panel on Sustainable Finance" <Summary> The FSA published the agenda of the 27th meeting of the "Expert Panel on Sustainable Finance,"* which was held on March 31, 2025. The Expert Panel members discussed the enhancement of investment opportunities for a wide range of investors. *The Expert Panel is composed of business, financial, and academic experts, with observers of officials from pertinent ministries and agencies. The FSA (Strategy Development Division, Strategy Development and Management Bureau) serves as the secretariat. The original press release is available in Japanese. |
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Banks
| March 28, 2025 | Publication of the implementation reports of the Business Strengthening Plans and the relevant plans filed by financial institutions (as of September 2024) <Summary> The FSA published the implementation reports of the Business Strengthening Plans and the relevant plans filed by financial institutions (as of September 2024) pursuant to the "Act on Special Measures for Strengthening Financial Functions." The original press release is available in Japanese. |
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| March 28, 2025 | Publication of implementation reports in regard to the "fund-grant system" filed by financial institutions (as of September 2024) <Summary> The FSA published five implementation reports in regard to the "fund-grant system" respectively filed by the following parties (as of September 2024), pursuant to the "Act on Special Measures for Strengthening Financial Functions": (1) THE FUKUHO BANK, LTD. (2) The Aomori Bank, Ltd. alongside THE MICHINOKU BANK, LTD. (currently The Aomori Michinoku Bank, Ltd.) (3) The Aichi Bank, Ltd. alongside The Chukyo Bank, Limited (currently Aichi Bank, Ltd.) (4) The Hachijuni Bank, Ltd. alongside THE NAGANO BANK, LTD. (5) Habataki Shinkumi Bank. The original press release is available in Japanese. |
Others
| March 31, 2025 | Trends in High-Speed Trading |
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| March 28, 2025 | International Forum of Independent Audit Regulators published the Report on 2024 Survey of Inspection Findings |
| March 28, 2025 | Appropriate information provision before a general shareholders' meeting <Summary> It is considered preferable that listed companies give as much consideration as possible to enabling investors to check their annual securities reports before a general shareholders' meeting. Accordingly, on Friday, March 28, 2025, KATO Katsunobu, Minister of Finance and Minister of State for Financial Services, requested listed companies to provide investors with information appropriately ahead of a general shareholders' meeting. Additionally, the FSA launched a webpage to introduce how to disclose annual securities reports before an annual shareholders' meeting. The original press release is available in Japanese. |
| March 28, 2025 | Publication of the main issues raised by the FSA at opinion exchange meetings with relevant associations in the financial sector <Summary>
The FSA has published the main issues raised by the FSA at opinion exchange meetings* held in February 2025 with relevant associations in the financial sector. (Available only in Japanese).
Notable issues discussed by most but not all of the groups were:
1. Requests to financial institutions for financial measures to deal with disasters caused by the following:
- the heavy snow from December 28, 2024
- the heavy snow from February 4, 2025, and
- a road collapse accident due to a damaged basin sewer pipe
2. The Financial Policies Monitor (System)
3. Feedback of the results of the financial sector-wide cybersecurity exercise (Delta Wall IX)
4. "Issues and Practices for Dialogue on Validation of Effectiveness of AML/CFT (Anti-money Laundering and Combating the Financing of Terrorism) Frameworks" published by the FSA
5. Japan Climate Transition Bonds (JCTBs)
6. FY 2025 request for tax revisions (published by the FSA), and
7. "The Relevance of Transition Plans for Financial Stability, " a report compiled and published in January 2025, by the FSB (Financial Stability Board) Transition Plan Working Group (TPWG).
* To enhance the transparency of its administration and to share its awareness of issues in the financial sector in a timely manner, every month the FSA publishes the main issues raised by the FSA at opinion exchange meetings with the relevant associations** in the financial sector. Opinion exchange meetings are held with the respective associations on a regular basis. ** In February 2025, opinion exchange meetings were held respectively with the following seven groups: major banks, etc.; the Second Association of Regional Banks; Shinkumi Banks Association of Japan; the Life Insurance Association of Japan; the General Insurance Association of Japan; the Japan Investment Advisers Association, and the labor banks sector |
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