What’s New on the FSA Website

Week of June 18, 2021 - June 24, 2021

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

Press Conferences

June 23, 2021	Press Conference by the Minister of State for Financial Services (June 11, 2021) Japanese version
June 23, 2021	Press Conference by the Minister of State for Financial Services (June 5, 2021) Japanese version
June 23, 2021	Press Conference by the Minister of State for Financial Services (May 28, 2021) Japanese version
June 18, 2021	Press Conference by the Minister of State for Financial Services (May 25, 2021) Japanese version
June 18, 2021	Press Conference by the Minister of State for Financial Services (May 18, 2021) Japanese version
June 18, 2021	Press Conference by the Minister of State for Financial Services (May 11, 2021) Japanese version

Public Comments

(The following public comment is available in Japanese)

June 18, 2021

Publication of the draft amendments to the "Comprehensive Guidelines for Supervision of Major Banks, etc." and the "Comprehensive Guidelines for Supervision of Financial Instruments Business Operators" <Summary> The FSA proposed the draft amendments to the "Comprehensive Guidelines for Supervision of Major Banks, etc." and the "Comprehensive Guidelines for Supervision of Financial Instruments Business Operators." The proposal mainly intends to set forth the supervisory focal points in the respective Guidelines in cases where banks and Type 1 financial instruments business operators are expected to temporarily conduct business operations from overseas in the event that it has become difficult to continue business in Japan due to wide-area disasters, or other similar crises.

 

Press Releases

(The following press releases are available in English)

Councils

June 18, 2021	Joint session of the 46th general meeting of Financial System Council and the 34rd meeting of Sectional Committee on Financial System

Others

June 23, 2021	Stewardship Code : 307 institutional investors have signed up to the Principles for Responsible Institutional Investors as of May 31, 2021
June 18, 2021	”Report by the Expert Panel on Sustainable Finance” Announced

(The following press releases are available in Japanese)

Councils

June 18, 2021

Publication of the second report compiled by the "Working Group on Capital Market Regulations" <Summary> The FSA published the second report compiled by the "Working Group on Capital Market Regulations"(provisional English title) of the Financial System Council based on its meetings which were held eleven times from October 2020 through June 2021, aimed at enhancing the function of Japan’s capital market as an international financial hub.

June 18, 2021

Establishment of the "Council of Experts on Determination of Fire Insurance Premium Rates Based on Exposures to Water Damage Risks (Including Climate Hazard Risks)" (provisional English title) <Summary> The FSA has established the "Council of Experts on Determination of Fire Insurance Premium Rates Based on Exposures to Water Damage Risks (Including Climate Hazard Risks)" (provisional English title) to discuss from a neutral standpoint how fire insurance premium rates should be classified in accordance with exposures to water damage risks (including climate hazard risks) and what points non-life insurance companies, etc. should consider in implementing initiatives related thereto. The first meeting was held on June 25, 2021.

Banks

June 18, 2021	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 October 1, 2020 and March 31, 2021.

 

Securities

June 22, 2021

Administrative action against Seiki Ka-A Investment Kabushiki Kaisha,* a notifier of specially permitted business for qualified institutional investors (SPBQII) which violated the previous order to improve its business operations (The Kanto Local Finance Bureau) <Summary> The Kanto Local Finance Bureau took an administrative action against Seiki Ka-A Investment Kabushiki Kaisha,* a notifier of specially permitted business for qualified institutional investors (SPBQII) which violated the previous order to improve its business operations, ordering the abolition of the notifier’s entire SPBQII and the improvement of its business operations 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.

June 18, 2021

The first trial of an administrative penalty case against an individual for stabilization (an act of market manipulation) regarding stocks of Saikaya Department Store Co., Ltd. <Summary> On June 25, 2021, the first trial of an administrative penalty case against an individual for stabilization (an act of market manipulation) regarding stocks of Saikaya Department Store Co., Ltd. will be conducted.

Others

June 23, 2021	Statement to financial institutions and others on ensuring the dissemination of the idea of and promotion of practices of employees' dual employment and or side jobs in line with Japan's "Basic Policy on Economic and Fiscal Management and Reform 2021" and "Action Plan of the Growth Strategy and the Follow-up on the Growth Strategy" <Summary> The FSA issued a statement to financial institutions and others on ensuring the dissemination of the idea of and promotion of practices of employees' dual employment and or side jobs in line with Japan's "Basic Policy on Economic and Fiscal Management and Reform 2021" and "Action Plan of the Growth Strategy and the Follow-up on the Growth Strategy."
June 23, 2021	Publication of the results of a survey on key issues in Japan's asset management ecosystem <Summary> The FSA published the results of a survey on key issues in Japan's asset management ecosystem. The survey was outsourced to Boston Consulting Group.* *The survey report is available only in Japanese.
June 23, 2021	Publication of the results of a survey on key performance indicators (KPIs), which reflect investment performance across asset management companies in Japan, in tandem with the analysis of various points of contention regarding publicly offered investment trusts in Japan <Summary> The FSA published the results of a survey on the formulation of key performance indicators (KPIs),* which commonly reflect investment performance across asset management companies in Japan, in tandem with the analysis of various points of contention regarding publicly offered investment trusts in Japan. The survey and the analysis were outsourced to the Asset Management Research Center of QUICK Corp.   *The development and disclosure of key performance indicators (KPIs), which commonly reflect investment performance across asset management companies, will not only incentivize asset management companies to develop high-performing and low-cost investment products (through enhancing the transparency of investment performance, thereby encouraging competition among asset management companies), but will also contribute to stable and robust personal asset building through NISA, Tsumitate NISA (Dollar-Cost Averaging NISA), and defined contribution pension plans.
June 23, 2021	Publication of the results of the performance survey on open-ended funds in the U.S., Cayman Islands and Luxembourg <Summary> The FSA published the results of the performance survey on open-ended funds in the U.S., Cayman Islands and Luxembourg, which commonly reflect investment performance across asset management companies. The results of survey will contribute to a more in-depth analysis of key performance indicators (KPIs) and comparative analysis between Japanese and international asset management companies. The survey was outsourced to Ibbotson Associates Japan, Inc.
June 23, 2021	Publication of the list of financial business operators that conducted large-scale OTC derivative transactions in FY 2020 <Summary> The FSA published, complying with the "Cabinet Office Order on Restrictions on Over-the-Counter Derivatives Transactions," the list of financial instruments business operators whose average monthly total notional principal amount of OTC derivative transactions in FY2020 was 300 billion yen or more.