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October 7, 2022
Financial Services Agency

Update on Progress toward Further Efficiency and Transparency in the Screening Procedures for Licensing and Registration of Financial Businesses

Since the 2016 fiscal year, the Financial Services Agency (FSA) has indicated its policy direction to “execute proper progress management for registration/licensing procedures through listing for greater efficiency and transparency of financial regulation,” and has announced its action plan and specific initiatives.*
* https://www.fsa.go.jp/en/news/2021/20211027.html
   https://www.fsa.go.jp/en/news/2020/20201027.html
   https://www.fsa.go.jp/en/news/2019/20190927.html
   https://www.fsa.go.jp/en/news/2018/20180604.html
   https://www.fsa.go.jp/en/news/2017/20171107.html
   https://www.fsa.go.jp/en/news/2017/20170210-1.html(FSA website)
 
The major initiatives taken since the last announcement on October 27, 2020, are as follows:
○ From the viewpoint of revising report frequency and abolishing reports:

・Decided to integrate and abolish some forms of financial statements and reports regularly submitted by financial institutions to the FSA and the Bank of Japan at “The Task Force on Strengthening Coordination between FSA Inspections and Bank of Japan Examinations," and continued to promote efforts to centralize the submission destinations.(https://www.fsa.go.jp/en/news/2022/20220708/20220708.html)

 

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