What’s New on the FSA Website

Week of April 21, 2025 - April 25, 2025

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

Public Comments

April 25, 2025	Publication of the draft Cabinet Office Order Partially Amending the Regulation for Enforcement of the Act on Investment Trusts and Investment Corporations: This amendment of the Enforcement Regulation aims to first alter the basic terms and conditions of investment trusts managed under instructions from the settlor in order to provide that an investment trust contract may be cancelled if certain requirements, such as that the total net assets of investment trust property fall below a certain amount, are satisfied, and then provide that cancellation of an investment trust contract based on the altered basic terms and conditions does not require a written resolution for either the alteration of the terms and conditions or for the cancellation. Public comments will be accepted until no later than 5:00 p.m. (JST), May 26 (Mon.), 2025. The original press release is available in Japanese.
April 25, 2025	Publication of the Partial Amendment to the Designation of a country or region under Articles 17-2 and 17-3 of the Order for Enforcement of the Act on Prevention of Transfer of Criminal Proceeds.
April 23, 2025	Publication of the draft partial amendment of the Comprehensive Guidelines for Supervision of Financial Instruments Business Operators, etc.: In the Second Interim Report compiled by the Working Group on Capital Market Regulations, Financial System Council (published in December 2022), it was recommended to develop institutions for the Proprietary Trading System (PTS), which handles listed shares, etc., in order to ensure fairness in transactions and transparency in prices. In consideration of this recommendation, the Cabinet Office Order Partially Amending the Cabinet Office Order on Financial Instruments Business, etc. was enacted (put into effect on December 1, 2024). This draft is for the required amendment accompanying the clarification of prices through the development of the relevant institutions. Public comments will be accepted until no later than 5:00 p.m. (JST), May 26 (Mon.), 2025. The original press release is available in Japanese.

Press Releases

Policies

April 25, 2025	The FSA will open a dedicated information webpage concerning its responses and countermeasures to the U.S. tariff measures. The original press release is available in Japanese.

International

April 23, 2025	Berlin Plenary Meeting of the International Forum of Independent Audit Regulators (IFIAR)

Councils

April 23, 2025	Publication of the agenda and an outline of proceedings of the first meeting of the Expert Panel on the NISA Program, which was held on April 3, 2025 The original press release is available in Japanese.
April 22, 2025	Publication of the outline of the second meeting of the Expert Panel on the NISA Program, which was held on April 22, 2025 The original press release is available in Japanese.
April 22, 2025	Holding of the second meeting of the Expert Panel on the NISA Program on April 22, 2025 The original press release is available in Japanese.

Banks

April 25, 2025	Publication of the outline of the agenda, etc. of opinion exchange between organizations for the disabled and financial associations, which was held on March 7 The original press release is available in Japanese.
April 25, 2025	Updated: Living in Japan: How to Open a Bank Account and Send Money

Securities

April 25, 2025	The FSA received a recommendation from the Securities and Exchange Surveillance Commission to issue an administrative monetary penalty payment order to EduLab Inc. based on the results of the SESC's inspection of the company's false statement, etc. in its annual securities report, etc. Accordingly, the FSA ordered the respondent (EduLab Inc.) to pay an administrative monetary penalty to the national treasury. The original press release is available in Japanese.
April 25, 2025	The FSA received a recommendation from the Securities and Exchange Surveillance Commission to issue an administrative monetary penalty payment order to PIXEL COMPANYZ INC. based on the results of the SESC's inspection of the company's false statement, etc. in its annual securities report, etc. Accordingly, the FSA ordered the respondent (PIXEL COMPANYZ INC.) to pay an administrative monetary penalty to the national treasury. The original press release is available in Japanese.
April 25, 2025	The FSA received a recommendation from the Securities and Exchange Surveillance Commission to issue an administrative monetary penalty payment order to SHINWA WISE HOLDINGS Co., Ltd. based on the results of the SESC's inspection of the company's false statement, etc. in its annual securities report, etc. Accordingly, the FSA ordered the respondent (SHINWA WISE HOLDINGS Co., Ltd.) to pay an administrative monetary penalty to the national treasury. The original press release is available in Japanese.
April 25, 2025	The FSA received a recommendation from the Securities and Exchange Surveillance Commission to issue an administrative monetary penalty payment order based on the SESC's inspection of insider trading of shares of THE NIPPON ROAD CO., LTD. by a person who received information from a staff member in charge of negotiations for the conclusion of a contract with a tender offeror. Accordingly, the FSA ordered the respondent to pay an administrative monetary penalty to the national treasury. The original press release is available in Japanese.
April 24, 2025	On April 24, 2025, the Kanto Local Finance Bureau took an administrative measure against G&D Advisers, Inc. For details, see the website of the Kanto Local Finance Bureau. The original press release is available in Japanese.

Others

April 25, 2025	The third meeting of the Panel on Provision of Growth Capital to Startups (provisional translation) was held at the Japan Securities Dealers Association. For details, see the official website of the Japan Securities Dealers Association. The original press release is available in Japanese.
April 25, 2025	Publication of the report of the Survey on Support for Companies and Measures Concerning Venture Debt in Foreign Countries (provisional translation) The original press release is available in Japanese.
April 25, 2025	Updated lists of entities that are operating financial instruments businesses without proper registration The original press release is available in Japanese.
April 25, 2025	Updated: Speeches（Commissioner）
April 24, 2025	Publication of the report compiling the results of the Commissioned Study on Trends in Commercial Banking in ASEAN Countries: The Study was commissioned for the purpose of promoting cooperation between Japan and ASEAN countries in the financial sector by correctly ascertaining the business operations and strategies of commercial banks in Indonesia, Malaysia, Thailand, and the Philippines. The original press release is available in Japanese.
April 23, 2025	Publication of the main issues raised by the FSA at opinion exchange meetings held in March and April with relevant associations in the financial sector The original press release is available in Japanese.
April 23, 2025	Updated: Speeches（Commissioner, Vice Minister for International Affairs）
April 22, 2025	Publication of the comment of KATO Katsunobu, Minister of Finance and Minister of State for Financial Services: In light of the possible impact due to the U.S. tariff measures, the FSA will make requests and responses as follows: (1) Request financial institutions to thoroughly offer cash flow support even more meticulously; (2) Collect reports on the alteration of loan conditions from financial institutions and publicize them more frequently; (3) Establish the FSA Consultation Hotline Regarding Impact of the U.S. Tariff Measures. The original press release is available in Japanese.
April 22, 2025	The FSA conducted a survey on the impact of the U.S. tariff measures on Japan and compiled the results (materials of the FSA Comprehensive Response Headquarters for U.S. Tariff Measures). The original press release is available in Japanese.