What’s New on the FSA Website

Week of December 7, 2020 - December 11, 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)

December 8, 2020

Publication of the draft amendments to the "Guidelines for Anti-Money Laundering and Combating the Financing of Terrorism" <Summary> The FSA proposed the draft amendments to the "Guidelines for Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT)." The proposal mainly intends to further enhance the effectiveness of financial institutions’ risk management systems in respect of AML/CFT, by clarifying key issues newly identified through on-site- and off-site-monitoring conducted by the FSA.

Press Releases

(The following press releases are available in English)

Insurance

December 11, 2020	Overview of financial results of major insurance companies as of September 30, 2020

 

Others

December 9, 2020	Japan as an International Financial Center

 

(The following press releases are available in Japanese)

Councils

December 11, 2020

First meeting of the "Task Force to Discuss Optimal Ways to Ensure Best Execution" of the Financial System Council <Summary> On December 18, 2020, the FSA will hold the first meeting of the "Task Force to Discuss Optimal Ways to Ensure Best Execution" of the Financial System Council. The handouts and minutes of the meeting will be published on the FSA's website after the meeting in due course.

December 7, 2020

Publication of the agenda and handouts of the 22nd meeting of the "Council of Experts Concerning the Follow-up of Japan’s Stewardship Code and Japan’s Corporate Governance Code" <Summary> On December 7, 2020, the FSA published the agenda and handouts of the 22nd meeting of the "Council of Experts Concerning the Follow-up of Japan’s Stewardship Code and Japan’s Corporate Governance Code," which was held on December 8, 2020.

 

Banks

December 11, 2020	Report on measures for the resolution of failed financial institutions <Summary> The FSA submitted to the National Diet a report on measures for the resolution of failed financial institutions pursuant to the "Act on Emergency Measures for the Revitalization of the Financial Functions." The report covers developments between April 1 and September 30, 2020.
December 11, 2020 December 10, 2020 December 7, 2020	Request for financial measures to deal with the outbreak of highly pathogenic avian flu (HPAI) in Nara Prefecture, Wakayama Prefecture, Hiroshima Prefecture, Okayama Prefecture, and Oita Prefecture (The Kinki Local Finance Bureau, The Chugoku Local Finance Bureau, and The Kyushu Local Finance Bureau) （1） （2） （3） <Summary> During the period between December 7 and 11, 2020, The Kinki Local Finance Bureau, The Chugoku Local Finance Bureau, and The Kyushu Local Finance Bureau, respectively issued the statements "Financial Measures in Response to the Report of the Subspecies of Highly Pathogenic Avian Influenza (HPAI)" to relevant financial institutions in Nara Prefecture, Wakayama Prefecture (within the purview of The Kinki Local Finance Bureau), Hiroshima Prefecture and Okayama Prefecture (within the purview of the Chugoku Local Finance Bureau), and Oita Prefecture (within the purview of Kyushu Local Finance Bureau). The statements request 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.
December 8, 2020	Call for participants from financial institutions in the trial of business support know-how-sharing website <Summary> The FSA will launch a business support know-how-sharing website exclusively for employees of regional financial institutions and credit guarantee corporations on the website of the "Regional Revitalization College" which is within the purview of the Secretariat of the Headquarters for Overcoming Population Decline and Vitalizing Local Economy in Japan (the Cabinet Secretariat). Prior to the full-scale launching of the said website, the FSA has called for the participation of employees from regional banks, secondary regional banks, credit cooperatives (Shinkumi banks), credit associations(Shinkin banks), and credit guarantee corporations, who are willing to take part in creating, improving and utilizing the said webpage under the test environment during the trial period.

 

 

Others

December 9, 2020	The 16th Consultation Meeting in Relation to the Multiple-Debt Problem and Consumer Finance <Summary> On December 23, 2020, the FSA and the Consumer Affairs Agency will jointly hold the 16th Consultation Meeting in Relation to the Multiple-Debt Problem and Consumer Finance. The consultation meeting is to be held to follow up the status on lenders and borrowers as part of the measures based on the "Program to Remedy the Multiple-Debt Problem."
December 8, 2020	Warnings about entities that are operating money lending businesses without proper registration <Summary> The FSA (Local Finance Bureaus) updated warnings about entities that are operating money lending businesses without proper registration. The warnings include the updated list of entities that misrepresent their registration using fictitious or stolen registration numbers.
December 8, 2020	Activities of the FSA's Counseling Office for Financial Services Users for the period between July 1 and September 30, 2020 <Summary> The FSA's Counseling Office for Financial Services Users offers a counseling service to respond to inquiries and comments from financial services users. Between July 1 and September 30, 2020, the counseling office received 10,925 inquiries and comments, a large decrease from 17,361 cases in the previous quarter (between April 1 and June 30 2020).