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FSA Weekly Review No.377
- January 30, 2020
What’s New on the FSA Website
Week of January 20, 2020 - January 24, 2020
This page contains the latest in events, developments, and updates to the FSA website.
Public Comments
(The following public comments are available in Japanese)
January 24, 2020 | Publication of the draft amendments to the "Order for Enforcement of the Act on Special Measures for Productivity Improvement" (1) (2) <Summary> The FSA proposed the draft amendments to the "Order for Enforcement of the Act on Special Measures for Productivity Improvement." The proposal mainly intends to adopt new special measures where PoC (proof-of-concept) tests are to be conducted in regard to a new InsurTech/FinTech approach for (online) P2P (peer-to-peer) insurance to be provided by small-amount and short-term insurers, in response to requests through the application of the "regulatory sandbox system," by updating applicable provisions of the said Order. |
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January 24, 2020 | Publication of the finalized "Cabinet Office Order to Amend the Ordinance for Enforcement of the Banking Act" <Summary> The FSA finalized the "Cabinet Office Order to Amend the Ordinance for Enforcement of the Banking Act." The amendments mainly pertain to the disclosure regarding the unification of non-performing loans disclosed based on the "Financial Reconstruction Act" and the "Banking Act." The amended Cabinet Office Order will be enforced on March 31, 2022 in tandem with the relevant applicable cabinet office orders, ordinances-for-enforcement of other applicable laws and regulations, as well as applicable comprehensive guidelines. |
January 24, 2020 | Publication of the finalized "Cabinet Office Order to Amend the Ordinance for Enforcement of the Labor Bank Act" <Summary> The FSA finalized the "Cabinet Office Order to Amend the Ordinance for Enforcement of the Labor Bank Act." The amendments mainly pertain to the disclosure regarding the unification of non-performing loans disclosed based on the "Financial Reconstruction Act" and the "Banking Act." The amended Cabinet Office Order will be enforced on March 31, 2022 in tandem with the relevant applicable cabinet office orders, ordinances-for-enforcement of other applicable laws and regulations, as well as applicable comprehensive guidelines. |
January 23, 2020 | Publication of the draft "Cabinet Office Order to Amend the Ordinance for Enforcement of the Banking Act, etc." <Summary> The FSA published the draft "Cabinet Office Order to Amend the Ordinance for Enforcement of the Banking Act, etc." The proposal mainly intends to provide technical amendments in response to the finalization of transitional arrangements for implementing Basel III capital requirements, which were originally introduced at the adoption of Basel III capital requirements, and in response to the revisions of the Audit Standards (as of July 5, 2018, and of September 3, 2019). |
Press Releases
(The following press releases are available in English)
International
January 23, 2020 | FSA publishes GLOPAC Newsletter vol.14 |
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Councils
January 20, 2020 | The FSA published new materials and minutes of The Council of Experts on the Stewardship Code |
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Others
January 23, 2020 | Updated list of issuers of gift certificates in repayment procedures based on the “Payment Services Act” |
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(The following press releases are available in Japanese)
Councils
January 22, 2020 | Publication of the agenda and handouts of the 141st meeting of the Compulsory Automobile Liability Insurance Council <Summary> The FSA published the agenda and handouts of the 141st meeting of the Compulsory Automobile Liability Insurance Council, which was held on January 22, 2020. |
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Others
January 24, 2020 | Publication of the updated column titled "Candid Roundtable Talks on the Tsumitate NISA (Dollar-Cost Averaging NISA)" (provisional English title) on a subpage of the "NISA Official Promotion Webpage" with the fifth volume of a series of roundtable talks <Summary> The FSA published the updated column titled "Candid Roundtable Talks on the Tsumitate NISA (Dollar-Cost Averaging NISA)" (provisional English title) on a subpage of the "NISA Official Promotion Webpage," with the fifth volume of a series of roundtable talks. The column mainly shares informative quotes from a series of candid roundtable talks between four experienced individual investors and a non-investor (a married working mother with young children) who currently has second thoughts on investment in terms of building assets (for being overwhelmed by an abundance of Tsumitate NISA (Dollar-Cost Averaging NISA) account options offered by numerous financial institutions, which makes it hard to pick out one), wherein the experienced individual investors clarify/share their respective ideas on personal portfolio management in a practical manner from a child-rearing household perspective which may provide hesitant non-investors with some helpful insights into finding their own optimal portfolio management strategies for household asset building through control over savings and investment according to the respective life stages and objectives. |
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January 24, 2020 | Updated list of entities that are operating financial instruments businesses without proper registration (The Kanto Local Finance Bureau) <Summary> The FSA and the Kanto Local Finance Bureau issued warnings to entities that are operating financial instruments businesses without proper registration. (See the updated list of foreign-based entities). |
January 23, 2020 | Publication of the minutes and handouts of the first meeting of the "Liaison Council on the Appointment of Audit Firms (External Auditors) for Initial Public Offering (IPO) Audits" (provisional English title) <Summary> The FSA published the minutes and handouts of the first meeting of the "Liaison Council on the Appointment of Audit Firms (External Auditors) for Initial Public Offering (IPO) Audits" (provisional English title) to carry out liaisons and coordination with relevant stakeholders to discuss matters in regard to the appointment of audit firms (external auditors) for IPO audits, which was held on December 17, 2019. The first meeting started with a report on the current state of the appointment of audit firms for IPO audits, which was presented by the FSA, the TSE (Tokyo Stock Exchange, Inc.), and the JICPA (Japanese Institute of Certified Public Accountants), whereby stakeholders including relevant persons from audit firms, venture businesses, and securities companies exchanged their current knowledge of issues involved in the appointment of audit firms for IPO audits. |
January 21, 2020 | Warning issued to CBASE FINTECH LAB LLC that is operating the virtual currency (crypto-asset) exchange business without proper registration <Summary> The FSA issued a warning to CBASE FINTECH LAB LLC that is operating the virtual currency (crypto-asset) exchange business without proper registration in violation of the "Payment Services Act." |
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