What’s New on the FSA Website

Week of July 13, 2020 - July 22, 2020

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

Press Releases

(The following press releases are available in English)

Others

July 22, 2020	Partial revision of the "Reference Cases", etc. regarding the "Independent Agent Exemption" of fund managers
July 22, 2020	The results of monitoring customer-oriented business conduct of investment trust distributors(2019 business year)
July 14, 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)

Councils

July 16, 2020	Publication of the agenda and handouts of the 30th meeting of the "Working Group on Financial Markets" of the Financial System Councill <Summary> The FSA published the agenda and handouts of the 30th meeting of the "Working Group on Financial Markets" of the Financial System Council, which was held on July 15, 2020.

 

Banks

July 14, 2020	Publication of a progress report on Business Revitalization Plans <Summary> The FSA published a report on the progress of business revitalization by Shinsei Bank Ltd. as of March 31, 2020, pursuant to the "Act on Emergency Measures for Early Strengthening of Financial Functions" and the "Deposit Insurance Act."

 

Securities

July 14, 2020

Publication of "Statistics of NISA and Junior NISA Accounts" as of March 31, 2020 <Summary> The FSA has published "Statistics of NISA and Junior NISA Accounts." As of March 31, 2020, there were approximately 14.1 million NISA accounts in total, and approximately 19.5 trillion yen (approximately 182.2 billion USD) was invested through the NISA accounts, among which, 373.3 billion yen (approximately 3.5 billion USD) was invested through approximately 2.2 million accounts of the Tsumitate NISA (Dollar-Cost Averaging NISA) which has started since January 2018.

 

Others

July 16, 2019

Requests for financial measures to deal with disasters caused by the heavy rain from July 3, 2020 (The Chugoku Local Finance Bureau and the Fukuoka Local Finance Branch Bureau) <Summary> The Chugoku Local Finance Bureau and the Bank of Japan's Matsue Branch, as well as the Fukuoka Local Finance Branch Bureau and the Bank of Japan's Fukuoka Branch respectively issued joint statements titled "Financial Measures to Deal with Disasters Caused by the Heavy Rain from July 3, 2020" to the relevant institutions. The said statements request financial institutions in the respective prefectures* to appropriately deal with victims of the disaster considering their circumstances, such as by making the repayment of deposits flexible. * Prefectures of Shimane and Saga have newly become subject to the "Disaster Relief Act." If more areas in those prefectures become subject to the said Act, financial institutions in the respective prefectures are requested to take measures in the same manner as above accordingly.

July 14, 2020

Extension of the filing due dates of annual securities reports, internal control reports, quarterly securities reports, and semiannual securities reports in case of business impediments caused by the heavy rain from July 3, 2020 <Summary> The FSA has announced that disaster-affected corporations may extend the filing due dates of their annual securities reports, internal control reports, quarterly securities reports, and semiannual securities reports if business impediments have been caused by the heavy rain from July 3, 2020, pursuant to the enforcement of the "Cabinet Order on the Specific Extraordinary Disaster Caused by the Heavy Rain from July 3, 2020 to Designate Measures to be Applied Thereto" (provisional English Order title). Further inquiries including concerns on business impediments caused by the heavy rain from July 3, 2020 are being accepted by the respective competent local finance bureaus and local finance branch bureaus. In this respect, a disaster-affected corporation which has been unwittingly forced to miss the statutory deadline for filing the reports due to force majeure shall not be held liable administratively or criminally for the failure of filing, if the corporation files the said reports by October 31, 2020. In a case where a disaster-affected corporation remains unable to meet the extended deadline of October 31, 2020, the deadline can be further extended with approval from the competent local finance bureau. Similarly, if a disaster-affected corporation remains unable to prepare an extraordinary report* with an unfixed filing due date, the corporation must file the report as soon as possible after such circumstances are resolved, whereby the report will be deemed to have been filed without delay. * "Extraordinary report" in this context means a document containing corporate details statutorily required to be disclosed in such cases as a force majeure event that has a material impact on the financial position and operating results of a corporation, pursuant to the "Financial Instruments and Exchange Act."