What’s New on the FSA Website

Week of November 2, 2020 - November 6, 2020

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

Public Comments

(The following public comment is available in English)

November 6, 2020	Public Consultation on Cabinet Office Order to Partially Amend Cabinet Office Order on Financial Instruments Business, etc., the Ordinance to Partially Amend the Ordinance on Financial Services Providers’ Deposit for Operation, etc.

(The following public comment is available in Japanese)

November 6, 2020

Publication of the draft amendments to the relevant applicable Cabinet Orders and others which are under the purview of the FSA, pertaining to the enforcement of the "Act Partially Amending the Companies Act" and the "Act on Arrangement of Relevant Acts Incidental to the Enforcement of the Act Partially Amending the Companies Act" (the said Acts are scheduled to be enforced not later than one year and three months, and one year and six months, respectively) <Summary> The FSA published the draft amendments to the relevant applicable Cabinet Orders and others which are under the purview of the FSA, pertaining to the enforcement of the "Act Partially Amending the Companies Act" and the "Act on Arrangement of Relevant Acts Incidental to the Enforcement of the Act Partially Amending the Companies Act." (The said Acts are scheduled to be enforced not later than one year and three months, and one year and six months, respectively).   The proposal mainly intends to provide technical amendments to the relevant applicable Cabinet Orders and others which are under the purview of the FSA, to reflect changes in the said Acts.

Press Releases

(The following press releases are available in English)

Securities

November 6, 2020	Promoting the Use of English and Establishing a Single Point of Contact for Foreign Asset Management Firms

 

Others

November 6, 2020	The main issues raised by the FSA at opinion exchange meetings with trade associations
November 2, 2020	Stewardship Code : 288 institutional investors have signed up to the Principles for Responsible Institutional Investors as of September 30, 2020

 

(The following press releases are available in Japanese)

Councils

November 5, 2020

Publication of the agenda and handouts of the plenary meeting of the Business Accounting Council and the seventh meeting of the Accounting Committee of the said Council <Summary> The FSA published the agenda and handouts of the plenary meeting of the Business Accounting Council and the seventh meeting of the Accounting Committee of the said Council which were both held on November 6, 2020.

November 4, 2020

Establishment of the "Study Group on Lending and Business Turnaround Practices to Support Corporate Borrowers’ Business Enhancement" (provisional English title) and publication of the agenda and handouts of its first meeting <Summary> The FSA has established the "Study Group on Lending and Business Turnaround Practices to Support Corporate Borrowers’ Business Enhancement" (provisional English title) to discuss and consider desirable lending and business turnaround practices that can support the business continuity and economic growth, taking into account the current economic environment and overseas practices. The discussion topics include the possibility of a new security interest that will provide a good incentive for financial institutions to support borrowers' business-continuity and enhancement. The Study Group* mainly consists of academic experts, practitioners of business management and business turnaround, and representatives from the financial business sector. The FSA held the first meeting of the Study Group on November 4, 2020, and published the agenda and handouts.   * The FSA serves as the secretariat of the Study Group.

 

Banks

November 6, 2020	Results of the survey on financial institutions' accessibility services offered to their customers with disabilities <Summary> The FSA published the results of the survey on financial institutions' accessibility services offered to their customers with disabilities (as of March 31, 2020).
November 5, 2020	Request for financial measures to deal with the outbreak of highly pathogenic avian flu (HPAI) in Kagawa Prefecture (The Shikoku Local Finance Bureau) <Summary> The Shikoku Local Finance Bureau issued the statement “Financial Measures in Response to the Report of the Subspecies of Highly Pathogenic Avian Influenza (HPAI)” to relevant financial institutions in Kagawa Prefecture. The statement requests financial institutions to cooperate with prefectural authorities and appropriately deal with HPAI-affected parties (poultry farms, processors, and trade) considering their circumstances, such as by attentively responding to the needs of business management consultation and new loans or change of loan terms.
November 4, 2020	Approval granted to Osaka Prefectural Credit Federation of Agricultural Co-operatives for its engagement in trust business <Summary> The FSA granted approval to Osaka Prefectural Credit Federation of Agricultural Co-operatives for its engagement in trust business pursuant to the "Act on Engagement in Trust Business by a Financial Institution."

 

Securities

November 6, 2020

Administrative penalty charge against an individual (non-insider) for committing insider trading regarding stocks of KITAGAWA INDUSTRIES CO.,LTD. by using insider information which was obtained from an employee of a contractor of the said entity <Summary> On November 5, 2020, the FSA issued an order to impose an administrative penalty charge against an individual (non-insider) for committing insider trading regarding stocks of KITAGAWA INDUSTRIES CO.,LTD.* by using insider information which was obtained from an employee of a contractor of the said entity. *: KITAGAWA INDUSTRIES CO.,LTD. was delisted in March 2019.

November 6, 2020

Administrative penalty charge against an individual (non-insider) for committing insider trading regarding stocks of KITAGAWA INDUSTRIES CO.,LTD. by using insider information which was obtained from an officer of a tender offeror with the said entity who received the information from an officer of the tender offeror of KITAGAWA INDUSTRIES CO.,LTD <Summary> On November 5, 2020, the FSA issued an order to impose an administrative penalty charge against an individual (non-insider) for committing insider trading regarding stocks of KITAGAWA INDUSTRIES CO.,LTD.* by using insider information which was obtained from an officer of a tender offeror of the said entity. *: KITAGAWA INDUSTRIES CO.,LTD. was delisted in March 2019 2017.

 

Others

November 6, 2020	Publication of the monitoring results pertaining to financial institutions' implementation status of customer-oriented business conduct aimed at customers' stable asset building (as of the end of September 2020) <Summary> The FSA has been monitoring financial institutions from macro- and micro-perspectives as to whether their business approaches and initiatives reflect customer-oriented business conduct on a regular basis. To further ensure their "visualization" of such customer-oriented business approaches and initiatives from the external customer perspective, the FSA has published the updated monitoring results pertaining to financial institutions' implementation status of customer-oriented business conduct aimed at customers' stable asset building as of the end of September 2020.
November 6, 2020	Publication of the updated list of financial institutions signing up to the "Principles for Customer-Oriented Business Conduct" and publicizing their respective customer-oriented business conduct and KPIs (key performance indicators) (as of the end of September 2020) <Summary> The FSA updated the list of financial institutions signing up to the "Principles for Customer-Oriented Business Conduct" and publicizing their respective customer-oriented business conduct and KPIs (key performance indicators) inclusive of the common KPIs comparable across investment trust distributors by the end of September 2020 in order to visualize financial institutions' initiatives and efforts. The FSA aims at encouraging financial institutions to further "visualize" their customer-oriented business conduct.
November 6, 2020	Publication of the FY2020 edition of the reference casebook of good practices on the disclosure of narrative information (including those regarding COVID-19- and ESG- related initiatives) based on the "Principles Regarding the Disclosure of Narrative Information" <Summary> The FSA published the FY 2020 edition of the reference casebook* of good practices on the disclosure of narrative information (including those regarding COVID-19- and environmental, social and governance (ESG)- related initiatives) based on the "Principles Regarding the Disclosure of Narrative Information" in order to encourage corporate initiatives toward the enhancement of corporate disclosure beyond mere compliance with regulatory formalities. The FY 2020 edition of the reference casebook has been updated by the "Study Group for Collecting Good Practices on Corporate Disclosure of Narrative Information Based on the Principles Regarding the Disclosure of Narrative Information,"** and it shares the updated collection of favorable practices on the disclosure of narrative information, particularly in terms of COVID-19- and ESG-related initiatives.   * The reference casebook has been updated by the Study Group in November and December 2019 since the first publication on March 19, 2019. (Updates to the casebook are made as deemed necessary). ** Five online sessions of the Study Group are scheduled to be held in the period from September 16, 2020, until January 13, 2021. The Study Group is to bring investors, analysts and representatives from listed companies together to update the reference casebook.