What’s New on the FSA Website

Week of August 17, 2020 - August 21, 2020

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

Press Conferences

August 1９, 2020	Press Conference by the Minister for Financial Services (August 4, 2020) Japanese version

Press Releases

(The following press releases are available in Japanese)

Banks

August 17, 2020	Overview of modifications to lending conditions by financial institutions <Summary> The FSA published an overview of modifications to lending conditions made by financial institutions for the period from March 10 to June 30, 2020.

Securities

August 21, 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)

August 19, 2020

Administrative action against FX PRIME by GMO Corporation (The Kanto Local Finance Bureau) <Summary> The Kanto Local Finance Bureau took an administrative action against FX PRIME by GMO Corporation, ordering 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

August 19, 2020

Publication of the updated "Guidelines for Administrative Processes" regarding specified joint real estate ventures <Summary> The FSA has updated the "Guidelines for Administrative Processes" regarding specified joint real estate ventures. The updated Guidelines additionally set forth that the competent authority shall use the model (standard) general conditions* newly developed by the MLIT (Ministry of Land, Infrastructure, Transport and Tourism) as a reference in screening to grant permission for general conditions of a contract involving a change to the subject real property. The updated Guidelines have been enforced since August 19, 2020.   * A person or an entity that conducts a specified joint real estate venture must conclude a contract with an investor based on the general conditions (of the specified joint real estate venture contract) permitted by the competent minister. The aforementioned Guidelines set forth that "the competent authority shall use the model (standard) general conditions developed by the ARES (Association for Real Estate Securitization) as a reference in screening to grant permission for the general conditions of the specified joint real estate venture contract."