What’s New on the FSA Website

Week of August 6, 2021 - August 12, 2021

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

Public Comments

August 6, 2021

Publication of the draft Cabinet Orders, Cabinet Office Orders, and others pertaining to the enforcement of the "Act Partially Amending the Banking Act, etc., Aimed at Revitalizing the Japanese Economy and Fostering the Enhancement of Regional Banks' Sustainability of Business Models" <Summary> The FSA proposed the draft Cabinet Office Orders, Cabinet Orders, and others pertaining to the enforcement of the "Act Partially Amending the Banking Act, etc., Aimed at Revitalizing the Japanese Economy and Fostering the Enhancement of Regional Banks' Sustainability of Business Models." The proposal mainly intends to update the scope of banking business operations and the service contents to be rendered by the International Financial Center, [open new window] by providing corresponding amendments/updates to the relevant and applicable Cabinet Orders, Cabinet Office Orders, regulatory notices, and comprehensive guidelines in conjunction with the enforcement of the said Act, which was promulgated on May 26, 2021. (This public comment is available in Japanese) https://www.fsa.go.jp/news/r3/ginkou/20210806/20210806.html

 

Press Releases

International 

August 12, 2021	FSA and UK FCA exchanged letters on a cooperation framework in the area of credit rating agencies

 

Publication

August 10, 2021	Publication FSA publishes English translation of monthly magazine, Access FSA No.215

 

Securities

August 11, 2021

Updated list of entities that are operating financial instruments businesses without proper registration (The Kanto Local Finance Bureau) <Summary> The FSA and the Kanto Local Finance Bureau issued a warning to an entity that is operating financial instruments business without proper registration. (See the updated list of foreign-based entities (This press release is available in Japanese) https://www.fsa.go.jp/ordinary/chuui/mutouroku.html

August 6, 2021

Administrative penalty charge against Net One Systems Co., Ltd. for making false statements in its securities reports <Summary> On August 6, 2021, the FSA issued an order to impose an administrative penalty charge against Net One Systems Co., Ltd. for making false statements in its securities reports. (This press release is available in Japanese) https://www.fsa.go.jp/news/r3/shouken/20210806.html

 

Others

August 11, 2021	Requests for financial measures to deal with disasters caused by the heavy rain associated with an extratropical cyclone downgraded from Typhoon No.9 (The Tohoku Local Finance Bureau) <Summary> The Tohoku Local Finance Bureau alongside the Bank of Japan's Aomori Branch issued a statement titled "Financial Measures to Deal with Disasters Caused by the Heavy Rain Associated with an Extratropical Cyclone Downgraded from Typhoon No.9" to the relevant institutions on August 10, 2021. The said statement requests financial institutions in Aomori prefecture* to appropriately deal with victims of the disaster considering their circumstances, such as by making the repayment of deposits flexible. * Aomori prefecture is currently subject to the "Disaster Relief Act." If more areas in the prefecture become subject to the said Act, financial institutions in the prefecture will be requested to take measures in the same manner as above accordingly. (This press release is available in Japanese) https://www.fsa.go.jp/news/r3/ginkou/20210810.html
August 6, 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. (This press release is available in Japanese) https://www.fsa.go.jp/ordinary/chuui/index.html
August 6, 2021	Administrative action against Hara Kaikei Jimusho <Summary> The FSA took an administrative action against Hara Kaikei Jimusho,* ordering a one-month suspension of the entity's entire auditing and accounting business operations from September 1 to 30, 2021. This administrative action is based on a recommendation from the Certified Public Accountants and Auditing Oversight Board as a result of their on-site monitoring.  * As this accounting office has no English name, the Romanized version of the Japanese name is stated here. (This press release is available in Japanese) https://www.fsa.go.jp/news/r3/sonota/20210806/syobun.html