What’s New on the FSA Website

Week of February 1, 2021 - February 5, 2021

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

Public Comments

(The following public comments are available in Japanese)

February 3, 2021	Publication of the finalized 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 finalized the 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" (hereinafter referred to as the "Preparation Act for 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 amendments mainly provide technical amendments to the relevant applicable Cabinet Orders and others which are under the purview of the FSA, pertaining to the enforcement of the said Acts to reflect changes therein. The amendments to the aforementioned Cabinet Office Orders and others will be enforced on the respective effective dates of the said Acts, either on February 15 (for those pertaining to the "Act Partially Amending the Companies Act") or March 1, 2021 (for those pertaining to the "Preparation Act for the Companies Act").
February 1, 2021	Publication of the finalized "Cabinet Office Order to Amend the Cabinet Office Order on Financial Instruments Exchanges" <Summary> The FSA published the finalized "Cabinet Office Order to Amend the Cabinet Office Order on Financial Instruments Exchanges." From the perspective of promoting the use of financial instruments clearing organizations, the amendments mainly set forth to include a LG (Letter of Guarantee), which is a right to receive a guarantee by a financial institution as securities substituted for clearing margin, into the category of cover-deals for OTC FX margin transactions. The amendments were enforced on February 1, 2021.
February 1, 2021	Publication of the draft "Cabinet Office Order to Amend the Ordinance on Accountings of Specific Purpose Trust Property, etc." <Summary> The FSA published the draft "Cabinet Office Order to Amend the Ordinance on Accountings of Specific Purpose Trust Property, etc." The proposal mainly pertains to technical amendments to the "Ordinance on Accountings of Specific Purpose Trust Property" and other applicable rules in order to reflect accounting standards No.29 and No.31 alongside those implementation guidances respectively in regard to revenue recognition, etc. and disclosure of accounting estimates, which were updated and published by the ASBJ (Accounting Standards Board of Japan) on March 31, 2020.

Press Releases

(The following press releases are available in English)

Councils

February 3, 2021	Joint session of the 45th general meeting of Financial System Council and the 33rd meeting of Sectional Committee on Financial System

Others

February 5, 2021	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

February 3, 2021	Publication of the agenda and handouts of the 49th meeting of the Audit Standard Committee of the Business Accounting Council <Summary> The FSA published the agenda and handouts of the 49th meeting of the Audit Standard Committee of the Business Accounting Council, which was held on February 4, 2021.

 

Securities

February 3, 2021

Administrative action against i Global Asset Management Co., Ltd. <Summary> The FSA took an administrative action against i Global Asset Management Co., Ltd., a business operator that engages in investment management business, Type II financial instruments business, and investment advisory and agency business, 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.