What’s New on the FSA Website

Week of April 20, 2020 - April 24, 2020

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

Public Comments

(The following public comment is available in Japanese)

April 24, 2020

Publication of the finalized amendments to the "Comprehensive Guidelines for Supervision of Major Banks, etc." along with the regulatory notice designating documents to be submitted to the FSA and ways to utilize information and communications technology pursuant to the provisions of Article 349 of the "Cabinet Office Order on Financial Instruments Business, etc." <Summary> The FSA finalized the amendments to the "Comprehensive Guidelines for Supervision of Major Banks, etc." along with the regulatory notice designating documents to be submitted to the FSA and ways to utilize information and communications technology pursuant to the provisions of Article 349 of the "Cabinet Office Order on Financial Instruments Business, etc." Based on the fact that administrative procedures are now required to be implemented online in principle (pursuant to the enactment of the "Act on Partial Revision of the Act on Utilization of Information and Communications Technology in Administrative Procedure, etc. to Improve the Convenience of Stakeholders Who Engage in Administrative Procedures, and to Ensure Simplification and Efficiency of Administrative Operations by Leveraging Information and Communications Technology" [provisional English law title] in May 2019), in order to improve administrative procedures utilizing information and communications technology and ensure simplification and efficiency of administrative operations, the amendments expressly set forth in the Guidelines the specifics of administrative procedures through online application. The amendments have been enforced on April 24, 2020.

Press Releases

(The following press releases are available in English)

Others

April 23, 2020	FSA updated Information on COVID-19 (Novel Coronavirus)
April 23, 2020	Updated list of issuers of gift certificates in repayment procedures based on the "Payment Services Act"

 

(The following press releases are available in Japanese)

Banks

April 24, 2020

Updated list of support agencies for business innovation <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 financial institutions newly authorized this time).

April 24, 2020

Publication of an outline of the financial institutions' policies on cooperation and collaboration with electronic settlement agents <Summary> Financial institutions have prepared and published their respective policies on cooperation and collaboration with electronic settlement agents by March 1, 2018 pursuant to Article 10 (1) of the supplementary provisions of the "Act for Partial Revision of the Banking Act (Act No. 49 of 2017)" which stipulates that financial institutions shall prepare and disclose their basic policies regarding their cooperation and collaboration with electronic settlement agents within nine months from the date of promulgation of the Act (promulgation date: June 2, 2017). In this regard, on April 24, 2020, the FSA published a summary of the respective financial institutions' current implementation status (as of the end of March, 2020) based on their respective policies on cooperation and collaboration with electronic settlement agents, particularly in terms of the API (Application Programming Interface) development.

 

Securities

April 23, 2020

Administrative action against IGM Financial Group Co.,Ltd. (The Kanto Local Finance Bureau) <Summary> The Kanto Local Finance Bureau took an administrative action against IGM Financial Group Co.,Ltd. ordering the revocation of the entity’s registration and the improvement of its business operations pursuant to the "Financial Instruments and Exchange Act." This administrative action is based on a recommendation from the Securities and Exchange Surveillance Commission (SESC) as a result of its on-site inspection.

 

Others

April 24, 2020

Publication of a survey report on India's bond market <Summary> Bilateral relations between Japan and India have been in a very good state, and Japan's investment in India has been expanding steadily. While the Indian economy is expected to further expand along with its enormous funding needs, Japan-India financial cooperation is vital to the further development of Japan-India bilateral economic relations. From the perspective of deepening Japan-India financial cooperation toward the future, the FSA has outsourced a survey on India's bond market to the Institute of International Monetary Affairs (IIMA), a public interest incorporated foundation, mainly for the purpose of collecting information on the current state of India's corporate bond market (where there is a pressing need for its development/fostering) and on the relevant policy measures that have been taken so far and are to be taken by the Government of India. The survey report is now available (only in Japanese) on the FSA's website.

April 23, 2020

Publication of the draft amendments to the "Guidelines for Administrative Processes" regarding prepaid payment instruments issuers and funds transfer service providers <Summary> The FSA proposed the draft amendments to the "Guidelines for Administrative Processes" regarding prepaid payment instruments issuers and funds transfer service providers. The proposal mainly intends to update the Guidelines in line with the "JFSA's supervisory approaches –Replacing checklists with engagement–" and from the viewpoint of optimizing the whole screening process/methodology in terms of screening specifics, expedition and efficiency in regard to the registration application of prepaid payments instruments issuers and funds transfer service providers.