What’s New on the FSA Website

Week of September 3, 2021 - Sepbember 9, 2021

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

Public Comments

September 8, 2021

Publication of the draft regulatory notice designating certain rules based on Article 2, Paragraph (1) and (2) of the Cabinet Office Order on Restrictions on Over-the-Counter Derivatives Transactions" in response to the cessation of LIBOR (London Interbank Offered Rate) <Summary> The FSA proposed the draft regulatory notice designating certain rules based on Article 2, Paragraph (1) and (2) of the "Cabinet Office Order on Restrictions on Over-the-Counter-Derivatives Transactions" in response to the cessation of LIBOR (London Interbank Offered Rate). The proposal mainly intends to develop rules in the relevant and applicable regulatory notice in response to the cessation of LIBOR. Particularly in regard to OTC transactions and others conducted by financial instruments business operators and others, the proposal intends to develop rules for the obligation of centralization of clearing as well as rules for transactions subject to electronic trading platform regulations. (This public comment is available in Japanese) https://www.fsa.go.jp/news/r3/shouken/20210908/20210908.html

Press Releases

International 

September 6, 2021	Letter to the Chair of the Board of Trustees of the IFRS Foundation regarding financial contribution to the International Sustainability Standards Board (ISSB)

 

Councils

September 6, 2021	Joint session of the 47th general meeting of Financial System Council and the 35th meeting of Sectional Committee on Financial System

 

Banks

September 8, 2021	FSA publishes the status of loans held by all banks as of the end of March 2021, based on the Financial Reconstruction Act

Others

September 8, 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
September 7, 2021	Request for financial measures to deal with disasters caused by the debris flow occurred in Chino City, Nagano Prefecture in 2021 (The Kanto Local Finance Bureau) <Summary> The Kanto Local Finance Bureau alongside the Bank of Japan's Matsumoto Branch issued a statement titled "Financial Measures to Deal with Disasters Caused by the Debris Flow Occurred in Chino City, Nagano Prefecture in 2021" to the relevant institutions. The said statement requests financial institutions in Chino City, Nagano Prefecture* to appropriately deal with victims of the disaster considering their circumstances, such as by making the repayment of deposits flexible. * Chino City, Nagano Prefecture is currently subject to the "Disaster Relief Act." (This press release is available in Japanese) https://www.fsa.go.jp/news/r3/ginkou/20210907.html
September 7, 2021	Activities of the FSA's Counseling Office for Financial Services Users for the period between April 1 and June 30, 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 April 1 and June 30, 2021, the counseling office received 9,617 inquiries and comments, a slight decrease from 10,282 cases in the previous quarter (between January 1 and March 31, 2021). (This press release is available in Japanese) https://www.fsa.go.jp/soudan/2021soudan04-06/2021_04-06.html
September 3, 2021	Updated list of issuers of gift certificates in repayment procedures based on the “Payment Services Act”
September 3, 2021	Publication of the list of financial institutions satisfying the certain fill-in requirements of the designated reporting format pertaining to the status of their initiatives and efforts that have been taken so far and are to be taken based on the "Principles for Customer-Oriented Business Conduct" (as of the end of June 2021) <Summary> The FSA updated the list of financial institutions satisfying the certain fill-in requirements of the designated reporting format pertaining to the status of their initiatives and efforts that have been taken so far and are to be taken based on the "Principles for Customer-Oriented Business Conduct" as of June 2021, in order to visualize financial institutions' initiatives and efforts. The FSA aims at encouraging financial institutions to further visualize their customer-oriented business conduct by requesting them to meet the fill-in requirements of the format to report their initiatives and efforts based on the said Principles. (This press release is available in Japanese) https://www.fsa.go.jp/news/r3/kokyakuhoni/202109/fd_2021.html