What’s New on the FSA Website

Week of May 14, 2021 - May 20, 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)

May 20, 2021

Publication of the draft "Cabinet Office Order to Amend the Cabinet Office Order on Definitions Under Article 2 of the Financial Instruments and Exchange Act" <Summary> The FSA published the draft "Cabinet Office Order to Amend the Cabinet Office Order on Definitions Under Article 2 of the Financial Instruments and Exchange Act." From the perspective of improving investor convenience, etc., the proposal intends to reflect a certain treatment for business conduct set forth in the "Commodity Derivatives Transaction Act" in the provisions of Article 2 of the "Financial Instruments and Exchange Act" in order to treat similar conducts in the same manner under the latter Act. In particular, the proposal is aimed at allowing certain foreign commodity derivatives business operators (that meet certain requirements) to broker the entrustment of commodity market derivatives transactions to a financial instruments exchange without registration with the authorities (the Prime Minister), by excluding the services in regard to undertaking brokerage of the entrustment of commodity market derivatives transactions to financial instruments exchanges from the scope of financial instruments business, in cases where the foreign commodity derivatives business operators accepted orders from specific persons in Japan without soliciting them.

May 20, 2021

Publication of the draft amendments to the "Order for Enforcement of the Act on Damage Recovery Benefit Distributed from Funds in Bank Accounts Used for Crime" and other relevant and applicable Cabinet Orders, etc. which are within the purview of the FSA, in accordance with the enforcement of the "Act on the Arrangement of Related Acts, etc. for the Formation of a Digital Society" (provisional English title) <Summary> The FSA published the draft amendments to the "Order for Enforcement of the Act on Damage Recovery Benefit Distributed from Funds in Bank Accounts Used for Crime" and relevant and applicable Cabinet Orders, etc. which are within the purview of the FSA. The proposal mainly intends to provide amendments to the seal-requests/requirements and documentation rules in the relevant and applicable Cabinet Orders and others which are within the purview of the FSA, in accordance with the enforcement of the "Act on the Arrangement of Related Acts, etc. for the Formation of a Digital Society" (provisional English title).

 

Press Releases

(The following press releases are available in Japanese)

Councils

May 20, 2021	Publication of the agenda and handouts of the fifth meeting of the "Study Group on Impact Investment" <Summary> The FSA published the agenda and handouts of the fifth meeting of the "Study Group on Impact Investment," which was held on April 15, 2021, co-hosted by the FSA and the National Advisory Board of the Global Steering Group for Impact Investment. The Study Group meets regularly (on a bimonthly basis) to deepen the understanding of "impact investment" among capital market participants and government authorities.
May 18, 2021	Publication of the agenda and handouts of the fourth meeting of the "Task Force to Discuss Optimal Ways to Ensure Best Execution" of the Financial System Council <Summary> The FSA published the agenda and handouts of the fourth meeting of the "Task Force to Discuss Optimal Ways to Ensure Best Execution" of the Financial System Council which was held on May 18, 2021.
May 14, 2021	Publication of the agenda and handouts of the ninth meeting of the "Working Group on Capital Market Regulations" (provisional English title) of the Financial System Council <Summary> The FSA published the agenda and handouts of the ninth meeting of the "Working Group on Capital Market Regulations" (provisional English title) of the Financial System Council, which was held on May 14, 2021.

Securities

May 19, 2021

Administrative action against M.P. Japan Kabushiki Kaisha,* a notifier of specially permitted business for qualified institutional investors (SPBQII) which failed to file reports and materials with the authorities (The Kanto Local Finance Bureau) <Summary> The Kanto Local Finance Bureau took an administrative action against M.P. Japan Kabushiki Kaisha,* a notifier of specially permitted business for qualified institutional investors (SPBQII) which failed to file reports and materials with the Kanto Local Finance Bureau against a statutory order issued by the Bureau (for the collection of reports). The Bureau consequently ordered the improvement of the notifier's business operation pursuant to the "Financial Instruments and Exchange Act. * As this corporation has no English corporate name, the Romanized version of the Japanese corporate name is stated here.

Insurance

May 17, 2021

Publication of the results of an outsourced survey report* mainly on the actual status of corporate group governance and others of major insurance companies in foreign countries <Summary> The FSA published the results of an outsourced survey report* mainly on the actual status of corporate group governance and others of major insurance companies in foreign countries. The survey was outsourced to Boston Consulting Group. * The survey report is available only in Japanese.

Others

May 19, 2021	Publication of the "Cabinet Order to Determine the Borrowing Limits Specified by Cabinet Order Prescribed in Article 16, Paragraph (1) of the Act on the Registration of Bank- and Savings-Accounts for the Swift and Secure Transfer of Public Moneys" and the "Order on Special Provisions on Operations of the Deposit Insurance Corporation of Japan Prescribed in Chapter IV of the Act on the Registration of Savings Accounts for the Swift and Secure Transfer of Public Moneys"(provisional English titles) in tandem with another relevant and applicable Cabinet Order and another relevant and applicable Order <Summary> The FSA published the "Cabinet Order to Determine the Borrowing Limits  Specified by Cabinet Order Prescribed in Article 16, Paragraph (1) of the Act on the Registration of Savings Accounts for the Swift and Secure Transfer of Public Moneys" and the "Order on Special Provisions on Operations of the Deposit Insurance Corporation of Japan Prescribed in Chapter IV of the Act on the Registration of Savings Accounts for the Swift and Secure Transfer of Public Moneys" in tandem with another relevant and applicable Cabinet Order and another relevant and applicable Order. The Cabinet Orders and Orders mainly pertain to provisions in regard to financial and accounting matters of the Deposit Insurance Corporation of Japan (DICJ), such as specifying borrowing limits for the DICJ, in accordance with the enforcement of the Acts pertaining to the registration of bank and saving accounts for the transfer of public moneys, and to listing social security and tax numbers on accounts. The Cabinet Orders and Orders were enforced on May 19, 2021.   Note: All English titles of the laws listed herein are provisional translation.
May 18, 2021	Activities of the FSA's Counseling Office for Financial Services Users for the period between January 1 and March 31, 2021 <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 January 1 and March 31, 2021, the counseling office received 10,282 inquiries and comments, a slight increase from 9,793 cases in the previous quarter (between October 1 and December 31, 2020).
May 17, 2021	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.