To Investment Management-Related Service Entrusted Business Operators

Under the Act Partially Amending the Financial Instruments and Exchange Act and the Act on Investment Trusts and Investment Corporations, which was enacted in May 2024, a voluntary registration system was established for investment management-related service entrusted business operators, who provide compliance-related services and trust accounting services as entrusted by investment management business operators, etc.

As the operation of this system commenced on May 1, 2025, information concerning the registration for the investment management-related service entrusted business is provided below for those wishing to obtain registration.

System regarding the investment management-related service entrusted business

The investment management-related service refers to the service related to the evaluation of the property subject to investment or the service related to guidance for ensuring compliance with laws and regulations, etc. prescribed in Article 2, paragraph (43) of the Financial Instruments and Exchange Act (referred to below as the "Act") that is conducted in relation to the investment management business, etc. (meaning the investment management business (meaning the investment management business defined in Article 28, paragraph (4) of the Act), the specially permitted services for qualified institutional investors, etc. (meaning the specially permitted services for qualified institutional investors, etc. defined in Article 63, paragraph (2) of the Act, and limited to such service in which the act set forth in paragraph (1), item (ii) of that Article is conducted) or the specially permitted services for foreign investors, etc. (meaning the specially permitted services for foreign investors, etc. defined in Article 63-8, paragraph (1) of the Act, and limited to such service in which the act set forth in item (i) of that paragraph is conducted); the same applies below).

The investment management-related service entrusted business was created with a voluntary registration system under the Act with the aim of developing an environment in which investment management business operators can dedicate themselves to investment management by allowing them to outsource the aforementioned services to external service providers with appropriate quality.

A person who intends to engage in investment management business may be eligible for partial easing of personnel requirements for registration for the investment management business by outsourcing the investment management-related service to a registered investment management-related service entrusted business operator.

• Submission of a "bill to partially amend the Financial Instruments and Exchange Act and the Act on Investment Trusts and Investment Corporations" to the 213th ordinary Diet session
• 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
• Report of Working Group on Capital Market Regulations and Asset Management Task Force
• List of investment management-related service entrusted business operators

Requirements for registration for investment management-related service entrusted business

The FSA has published Comprehensive Guidelines for Supervision of Investment Management-Related Service Entrusted Business Operators, which compiles basic principles, major supervisory viewpoints, points to note, and supervisory methods and measures in order to properly perform daily supervision of investment management-related service entrusted business operators. Access the link below for the details of the requirements for registration.

• Comprehensive Guidelines for Supervision of Financial Instruments Business Operators, etc. (Supplementary Guidelines): Comprehensive Guidelines for Supervision of Investment Management-Related Service Entrusted Business Operators 

Forms for application for registration, sample entries, and instructions

An applicant needs to attach an extract of their resident card (in the case of a corporation, an extract of the representative's resident card), etc. to an application form, in addition to the resumes, the pledge statement, and other documents described below. Details

Name of document	Form	Example (Provided in Japanese only)
Application for registration	Application for registration	Example
Document describing the business and business methods	No specific form	Example
Documents stating the registration applicant's business execution system, such as its personnel structure and the organizational structure pertaining to the business	No specific form	Example
Resumes of the registration applicant and officers	No specific form	Example
Pledge statement for the registration applicant and officers	No specific form	Example Example
Document stating the calculated Net Assets	No specific form	Example

Contact

[When submitting an application form, etc. in English]

The Financial Market Entry Office

[When submitting an application form, etc. in Japanese]

2nd Securities Business Surveillance Section, Local Financial Department, Kanto Local Finance Bureau

List of frequently used documents which can be prepared in English for post-registration

Matters to be notified by investment management-related service entrusted business operators are prescribed by the Act, etc. Please submit the required notifications by checking the Act and other laws and regulations.

From April 2022, administrative procedures are to be undertaken online in principle. Accordingly, notifications should be submitted using the Financial Services Agency Electronic Application and Notification System by the deadlines specified by laws and regulations.

• Application and Notification: Financial Services Agency

Matters to be notified

	Name of document		Notes	Related articles	Example (Provided in Japanese only)
1	Notification of change to matters specified in application for registration (Article 20(1) of COOFIBi)		Please submit the notification within two weeks.	Article 66-75(1) of the Act１
	(1)	Notification of change in the trade name or name		Article 355, item (i) of COOFIB２	Example
	(2)	Notification of change in the amount of stated capital or the total amount of contributions		Article 355, item (iv) of COOFIB	Example
	(3)	Notification of change of officer		Article 355, item (ii) of COOFIB	Example
	(4)	Notification of change to name and location of head office and other office		Article 355, item (iii) of COOFIB	Example
	(5)	Notification of change to name and location of head office and other office where the investment management-related service entrusted business is being conducted			Example
	(6)	Notification of change to other businesses conducted by applicant			Example
	(7)	Notification of change to matters specified in application for registration			Example
	(8)	Notification on change of the representative person or agent person in Japan		Article 355, item (v) of COOFIB	Example
2	Notification on change of content or method of business		Please submit the notification within two weeks.	Article 66-75(3) of the Act Article 365 of COOFIB	Example
3	Notification of discontinuation of investment management-related service entrusted business		Please submit the notification within 30 days.	Article 66-83(1), item (ii) of the Act Article 363(1), item (ii) of COOFIB	Example
4	Notification of extinction by merger		Please submit the notification within 30 days.	Article 66-83(1), item (iii) of the Act Article 363(1), item (iii) and (2), item (i) of COOFIB	Example
5	Notification of dissolution due to a decision to commence bankruptcy proceedings		Please submit the notification within 30 days.	Article 66-83(1), item (iv) of the Act Article 363(1), item (iv) and (2), item (ii) of COOFIB	Example
6	Notification of dissolution for reasons other than merger or order of commencement of bankruptcy proceedings		Please submit the notification within 30 days.	Article 66-83(1), item (v) of the Act Article 363(1), item (v) of COOFIB	Example
7	Notification of the succession of investment management-related service entrusted business to successor as a result of company split		Please submit the notification within 30 days.	Article 66-83(1), item (vi) of the Act Article 363(1), item (vi) and (2), item (iii) of COOFIB	Example
8	Notification of transfer of (all/part) of investment management-related service entrusted business to transferee		Please submit the notification within 30 days.	Article 66-83(1), item (vii) of the Act Article 363(1), item (vii) and (2), item (iv) of COOFIB	Example

Business Report

Name of document	Notes	Related articles	Form
Business Report	Please submit the business report within three months after the end of every business year (if an investment management-related service entrusted business operator that is a foreign corporation or an individual who has an address in a foreign country is found to be unable to submit the business report within three months under that country's laws and regulations or business practices, within the approved period).	Article 66-82 of the Act Article 361 of COOFIB	Form Provisional English form to be posted

1. (1) Financial Instruments and Exchange Act（金融商品取引法）

2. (2) Cabinet Office Ordinance on Financial Instruments Business, etc.（金融商品取引業等に関する内閣府令）