Financial Services AgencyFSA Weekly Review No.382

March 5, 2020

What’s New on the FSA Website

Week of February 25, 2020 - February 28, 2020

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

Press Conferences

February 26, 2020 Press Conference by the Minister for Financial Services (February 10, 2020) Japanese versionopen new window
February 26, 2020 Press Conference by the Minister for Financial Services (February 4, 2020) Japanese versionopen new window

Public Comments

(The following public comments are available in Japanese)

February 25, 2020 Publication of the draft "Cabinet Office Order to Amend the Cabinet Office Order on Financial Instruments Business" and the draft amendments to the "Comprehensive Guidelines for Supervision of Financial Instruments Business Operators"open new window
<Summary>
The FSA proposed the draft "Cabinet Office Order to Amend the Cabinet Office Order on Financial Instruments Business" and the draft amendments to the "Comprehensive Guidelines for Supervision of Financial Instruments Business Operators." The proposal mainly intends to require electronic trading platform management service providers to;

(1) preserve all order data including all order modifications and cancellations, as part of its regulatory obligations to preserve transaction data for a period of 10 years,
and

(2) obtain a user agreement from each market participant. Such agreement must set forth that the market participant will (i) abide by the electronic trading platform management service provider’s business rules; and (ii) produce to the electronic trading platform management service provider information and documents related to its trading on the electronic trading platform upon the provider’s request.

Press Releases

(The following press releases are available in English)

Publication

February 28, 2020 PDFFSA publishes English translation of monthly magazine, Access FSA No.198
February 28, 2020 Publication of the 199th issue of the FSA’s journal, Access FSA

 

Others

February 27, 2020 Updated statistics of money lending business

 


(The following press releases are available in Japanese)

Banks

February 28, 2020 Requests for the facilitation of financing for small- and medium-sized enterprises during the fiscal-year-end season (toward the end of March) and further beyondopen new window
<Summary>
The FSA requested that bank associations of deposit-taking financial institutions and The Norinchukin Bank facilitate and ensure financing for small- and medium-sized enterprises during the fiscal-year-end season (toward the end of March) and further beyond.
February 28, 2020 Decision on subscription for preferred equity investments in the Shinkumi Federation Bank (central body for Japan credit cooperatives) pursuant to the "Act on Special Measures for Strengthening Financial Functions"open new window
<Summary>
The FSA decided to subscribe for preferred equity investments in the Shinkumi Federation Bank (central body for Japan credit cooperatives) based on the capital injection scheme pursuant to the "Act on Special Measures for Strengthening Financial Functions."
February 28, 2020 Updated list of support agencies for business innovationopen new window
<Summary>
The FSA published an updated list of support agencies for business innovation pursuant to the "Small- and Medium-sized Enterprises Business Enhancement Act .etc." (There were no entities newly authorized this time).
February 25, 2020 Publication of an ongoing status report of the conclusion of contracts between financial institutions and electronic payment service providers (electronic settlement agents)open new window
<Summary>
The FSA published an ongoing status report of the conclusion of contracts between financial institutions and electronic payment service providers (electronic settlement agents) which is required in terms of providing electronic payment services as well as reference system services (such as with respect to household account book apps [applications] and accounting services) pursuant to the "Banking Act." Particularly, concerned parties are granted a grace period until the end of May 2020 for the conclusion of contracts for the provision of reference system services. The report outlines the contract conclusion status as of the end of December 2019.

 

Securities

February 28, 2020 Administrative penalty charges against three individuals; one who communicated insider information regarding stocks of STrust Co.,Ltd. learned as an officer of the entity (1)open new window; and the other two who (as non-insiders) committed insider trading regarding the said stocks by using the information received from the said officer (2)open new window
<Summary>
On February 27, 2020, the FSA issued orders to impose administrative penalty charges against three individuals; one who communicated insider information regarding stocks of STrust Co.,Ltd. learned as an officer of the entity; and the other two who (as non-insiders) committed insider trading regarding the said stocks by using the information received from the said officer.
February 28, 2020 Administrative penalty charge against an officer of a business counterparty (unlisted company) of a tender offeror of ASAHI INDUSTRIES CO.,LTD. for committing insider trading regarding stocks of ASAHI INDUSTRIES CO.,LTD. by using insider information which was obtained from another officer of the said business counterparty who received the information from an officer of the tender offeror of ASAHI INDUSTRIES CO.,LTD.open new window
<Summary>
On February 27, 2020, the FSA issued an order to impose an administrative penalty charge against an officer of a business counterparty (unlisted company) of a tender offeror of ASAHI INDUSTRIES CO.,LTD. for committing insider trading regarding stocks of ASAHI INDUSTRIES CO.,LTD. by using insider information which was obtained from another officer of the said business counterparty who received the information from an officer of the tender offeror of ASAHI INDUSTRIES CO.,LTD.
February 28, 2020 Administrative penalty charge against NISSAN MOTOR CO., LTD. for making false statements in its securities reportsopen new window
<Summary>
On February 27, 2020, the FSA issued an order to impose an administrative penalty charge against NISSAN MOTOR CO., LTD. for making false statements in its securities reports.

 

Others

February 28, 2020 Warning against potential risks in binary option tradingopen new window
<Summary>
The FSA issued a warning against potential risks in binary option trading. The FSA urges people to beware of potential risks in binary option trading, which in actuality requires sophisticated investment literacy as well as high skills and experience. Compared to the simplicity of the way of trading, in which traders predict the decline in a given asset at a predetermined point in time and determine whether it will be above or below a fixed monetary amount, the investment mechanism behind binary option trading is highly complicated.
The FSA also alerts people to be cautious of and refrain from accepting fraudulent solicitations from brokers (particularly from non-registered brokers) who offer information products such as analysis tools and walkthrough manuals for binary option trading stored on USB flash drives at considerably high prices, using catchphrases that encourage speculation in potential investors and deceiving them into believing that such products will easily and perfectly help them win binary options.
The FSA urges people to consult with the Consumer Hotline (dial 188 without area code) at the NCAC (National Consumer Affairs Center of Japan) prior to binary option-related purchases or trading, and/or report to the FSA's Counseling Office for Financial Service Users whenever they receive suspicious solicitations for binary option trading from brokers that do not appear to be registered.
February 28, 2020 Establishment of a phone line for "Free Telephone Consultation Service for COVID-19 (Corona Virus Disease 2019)-Affected Parties"open new window
<Summary>
In response to the report of COVID-19 (Corona Virus Disease 2019) infection almost across the state, the FSA’s Counseling Office for Financial Service Users has established a phone line for "Free Telephone Consultation Service for COVID-19 (Corona Virus Disease 2019)-Affected Parties" mainly to respond to COVID-19-related inquiries for the COVID-19-related points of contacts of the respective financial institutions and inquiries regarding transactions with financial institutions.

Phone number: 0120-156811 (available only in Japanese)
             +81-3-5251-6813 (by VoIP phone, available only in Japanese)

(Office hours: Weekdays from 10:00 a.m. to 5:00 p.m. (JST).)
February 25, 2020 Request for measures to take in line with the Cabinet Statement "Basic Protective Measures Against the Coronavirus Disease 2019 (COVID-19)" (provisional English title) published on February 25, 2020open new window
<Summary>
The FSA issued a statement entitled "Measures to Take in Line with the Cabinet Statement: Basic Protective Measures Against the Coronavirus Disease 2019 (COVID-19)" (provisional English Title). Following the said Cabinet Statement published on February 25, 2020, the FSA's statement requests that financial institutions (including bankers associations, etc.) take proactive measures to prevent the spread of COVID-19 in full compliance with the said Cabinet Statement, mainly in terms of encouraging employees to take time off by staggering employees' working hours and encouraging telework (telecommuting), and of considering the postponement, cancellation, or downsizing of upcoming events expected to draw crowds.

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