What’s New on the FSA Website

Week of July 9, 2021 - July 21, 2021

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

Public Comments

 

July 21, 2021	Publication of the "Social Bond Guidelines (Draft)"– Open for Public Comments
July 16, 2021	Publication of the finalized amendments to the "Ordinance for Enforcement of the Money Lending Business Act" <Summary> The FSA has finalized the amendments to the "Ordinance for Enforcement of the Money Lending Business Act." In response to the enforcement of the "Act on Promotion of Development of Specified Integrated Resort Districts" (Act No. 80 of 2018), the amendments mainly reflect in the Ordinance for Enforcement the corresponding updates to the "Act for Prevention of Transfer of Criminal Proceeds" and the "Ordinance for Enforcement the Act for Prevention of Transfer of Criminal Proceeds." The amendments were enforced on July 19, 2021. In this respect, the corresponding updates to the relevant and applicable Comprehensive Guidelines also took effect on the same date. (This public comment is available in Japanese) https://www.fsa.go.jp/news/r3/kashikin/20210716/20210716.html
July 9, 2021	Publication of the finalized "Cabinet Orders, Cabinet Office Orders and Others Pertaining to the 2021 Revision of the Act on Special Measures for Strengthening Financial Functions" <Summary> The FSA finalized the "Cabinet Orders, Cabinet Office Orders, and Others Pertaining to the 2021 Revision of the Act on Special Measures for Strengthening Financial Functions." The amendments mainly pertain to the partial enforcement of the Act aimed at revitalizing the Japanese economy and fostering the enhancement of regional banks’ sustainability of business models (Act No. 46, 2021), particularly in regard to the "Act on Special Measures for Strengthening Financial Functions." The Cabinet Orders were enforced on July 21, 2021, whereas the Cabinet Office Orders and others were also enforced on the same date in tandem with the relevant and applicable Comprehensive Guidelines. (This public comment is available in Japanese) https://www.fsa.go.jp/news/r3/20210709/20210709.html
July 9, 2021	Publication of the finalized "Cabinet Office Order to Amend the Cabinet Office Order on Definitions Under Article 2 of the Financial Instruments and Exchange Act" <Summary> The FSA finalized the "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 amendments 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 amendments allow 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. (This public comment is available in Japanese) https://www.fsa.go.jp/news/r2/shouken/20210709/20210709.html

Press Releases

 

Banks

July 21, 2021

New one-stop access to the relevant information on the "fund-grant system" (provisional English title) established in response to the amendments to the "Act on Special Measures for Strengthening Financial Functions" <Summary> The FSA has added a subpage to its website to provide one-stop access to the relevant information on the "fund-grant system" (provisional English title) established in response to the amendments to the "Act on Special Measures for Strengthening Financial Functions," which were enforced on July 21, 2021. Amendments to the Act and the corresponding amendments/updates to the relevant and applicable Orders, Cabinet Office Orders, Comprehensive Guidelines, and others are shown in old and new comparison tables. (All information is available only in Japanese). (This press release is available in Japanese) https://www.fsa.go.jp/common/shinsei/shikinkohu/index.html

 

Others

July 19, 2021	Establishment of the "Study Group on Digital- and Decentralized-Finance" (provisional English title) <Summary> The FSA has established the "Study Group on Digital- and Decentralized-Finance" (provisional English title). Against the backdrop of the progress in the digitalization of the entire social economy, whereby the digitalization of finance is accelerated with the leverage of blockchain technology, the Study Group intends to seek optimal ways for financial institutions to adapt to the shift toward the digitization of remittance means, securities products, and others from the perspective of promoting innovation in the private sector and ensuring appropriate user protection for financial services by gaining a wide range of insights from stakeholders, including experts, professionals, and practitioners from the sectors of technology, finance, and academia. The FSA serves as the secretariat of the Study Group. The first meeting of the Study Group was held on July 26, 2021. (This press release is available in Japanese) https://www.fsa.go.jp/news/r3/singi/20210719/20210719.html
July 16, 2021	Publication of "Statistics of NISA and Junior NISA Accounts" as of March 31, 2021 <Summary> The FSA has published "Statistics of NISA and Junior NISA Accounts." As of March 31, 2021, there were approximately 15.9 million NISA accounts in total, and approximately 23.1 trillion yen (approximately 210.0 billion USD) was invested through the NISA accounts, among which, 901.2 billion yen (approximately 8.2 billion USD) was invested through approximately 3.6 million accounts of the Tsumitate NISA (Dollar-Cost Averaging NISA) which has started since January 2018. (This press release is available in Japanese) https://www.fsa.go.jp/policy/nisa/20210716.html
July 15, 2021	FSA updated Information on COVID-19 (Novel Coronavirus)
July 9 & 12, 2021	Requests for financial measures to deal with disasters caused by the heavy rain from July 1, 2021 (The Chugoku Local Finance Bureau and the Kyushu Local Finance Bureau) <Summary> The Chugoku Local Finance Bureau alongside the Bank of Japan's Matsue Branch, and the Kyushu Local Finance Bureau alongside the Bank of Japan's Kagoshima Branch issued statements titled "Financial Measures to Deal with Disasters Caused by the Heavy Rain from July 1, 2021" to the relevant institutions, respectively on July 9 and 12, 2021. The said statements request financial institutions in Shimane, Tottori, and Kagoshima prefectures* to appropriately deal with victims of the disaster considering their circumstances, such as by making the repayment of deposits flexible. * Matters related to financial measures in Shimane and Tottori prefectures are within the purview of the Chugoku Local Finance Bureau, whereas those in Kagoshima prefecture are within the purview of the Kyushu Local Finance Bureau. Disaster-affected areas in those three prefectures are currently subject to the "Disaster Relief Act." If more areas in the prefectures become subject to the said Act, financial institutions in the prefectures will be requested to take measures in the same manner as above accordingly. (These press releases are available in Japanese) The Chugoku Local Finance Bureau : https://www.fsa.go.jp/news/r3/ginkou/20210709-3.html The Kyushu Local Finance Bureau : https://www.fsa.go.jp/news/r3/ginkou/20210712.html)
July 9, 2021	Request for financial measures to deal with the outbreak of classical swine fever (CSF, a.k.a. hog cholera) in Kanagawa Prefecture (The Kanto Local Finance Bureau) <Summary> The Kanto Local Finance Bureau issued the statement titled "Financial Measures in Response to the Report of the Classical Swine Fever (CSF, a.k.a. Hog Cholera)" to the relevant financial institutions in Kanagawa Prefecture. The statement requests the financial institutions to cooperate with prefectural authorities and appropriately deal with CSF-affected parties such as pig farms considering their circumstances, such as by attentively responding to the needs of business management consultation and new loans or change of loan terms. (This press release is available in Japanese) https://www.fsa.go.jp/news/r3/ginkou/20210709-2.html