FSA Weekly Review No.458 September 30, 2021

FSA Weekly Review No.458: September 30, 2021

What’s New on the FSA Website

Week of September 16, 2021 - September 22, 2021

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

Public Comments

September 17, 2021	Publication of the draft amendments to the "Comprehensive Guidelines for Supervision of Financial Instruments Business Operators" and the "Comprehensive Guidelines for Supervision of Financial Services Intermediaries" <Summary> The FSA proposed the draft amendments to the "Comprehensive Guidelines for Supervision of Financial Instruments Business Operators" and the "Comprehensive Guidelines for Supervision of Financial Services Intermediaries." In regard to matters to be taken into account in soliciting investments in investment trusts and in explaining important matters regarding the rollover of investment trusts, the proposal mainly intends to expressly set forth provisions in the Guidelines on a principle basis to ensure that explanations are provided in a manner that truly meets the investment objectives and level of understanding of the respective financial services users. (This public comment is available in Japanese) https://www.fsa.go.jp/news/r3/shouken/20210917.html
September 17, 2021	Publication of the draft amendments to the "Order to Specify the Form of Identification Card Required to be Carried by the FSA's Officials in Conducting On-Site Monitoring as Prescribed in Article 36, Paragraph (1) of the Act on Damage Recovery Benefit Distributed from Funds in Bank Accounts Used for Crimes" and to the "Order to Specify the Form of Identification Card to be Carried by the FSA's Officials in Conducting On-Site Monitoring as Prescribed in Article 44, Paragraph (1) of the Act on Utilization of Funds Related to Dormant Deposits to Promote Public Interest Activities by the Private Sector" <Summary> The FSA proposed the draft amendments to the "Order to Specify the Form of Identification Card Required to be Carried by the FSA's Officials in Conducting On-Site Monitoring as Prescribed in Article 36, Paragraph (1) of the Act on Damage Recovery Benefit Distributed from Funds in Bank Accounts Used for Crimes" and to the "Order to Specify the Form of Identification Card to be Carried by the FSA's Officials in Conducting On-Site Monitoring as Prescribed in Article 44, Paragraph (1) of the Act on Utilization of Funds Related to Dormant Deposits to Promote Public Interest Activities by the Private Sector." The proposal mainly intends to update the form of identification cards required to be carried by the FSA's Officials in conducting on-site monitoring at financial institutions, by abolishing official seals thereto. (This public comment is available in Japanese) https://www.fsa.go.jp/news/r3/ginkou/20210917-3/20210917-3.html

September 17, 2021

Publication of the draft amendments to the "Comprehensive Guidelines for Supervision of Financial Instruments Business Operators" and the "Comprehensive Guidelines for Supervision of Financial Services Intermediaries"
<Summary>
The FSA proposed the draft amendments to the "Comprehensive Guidelines for Supervision of Financial Instruments Business Operators" and the "Comprehensive Guidelines for Supervision of Financial Services Intermediaries."
In regard to matters to be taken into account in soliciting investments in investment trusts and in explaining important matters regarding the rollover of investment trusts, the proposal mainly intends to expressly set forth provisions in the Guidelines on a principle basis to ensure that explanations are provided in a manner that truly meets the investment objectives and level of understanding of the respective financial services users.

(This public comment is available in Japanese)
https://www.fsa.go.jp/news/r3/shouken/20210917.html open new window

September 17, 2021

Publication of the draft amendments to the "Order to Specify the Form of Identification Card Required to be Carried by the FSA's Officials in Conducting On-Site Monitoring as Prescribed in Article 36, Paragraph (1) of the Act on Damage Recovery Benefit Distributed from Funds in Bank Accounts Used for Crimes" and to the "Order to Specify the Form of Identification Card to be Carried by the FSA's Officials in Conducting On-Site Monitoring as Prescribed in Article 44, Paragraph (1) of the Act on Utilization of Funds Related to Dormant Deposits to Promote Public Interest Activities by the Private Sector"
<Summary>
The FSA proposed the draft amendments to the "Order to Specify the Form of Identification Card Required to be Carried by the FSA's Officials in Conducting On-Site Monitoring as Prescribed in Article 36, Paragraph (1) of the Act on Damage Recovery Benefit Distributed from Funds in Bank Accounts Used for Crimes" and to the "Order to Specify the Form of Identification Card to be Carried by the FSA's Officials in Conducting On-Site Monitoring as Prescribed in Article 44, Paragraph (1) of the Act on Utilization of Funds Related to Dormant Deposits to Promote Public Interest Activities by the Private Sector."
The proposal mainly intends to update the form of identification cards required to be carried by the FSA's Officials in conducting on-site monitoring at financial institutions, by abolishing official seals thereto.

(This public comment is available in Japanese)
https://www.fsa.go.jp/news/r3/ginkou/20210917-3/20210917-3.html open new window

Press Releases

Councils

September 22, 2021	Publication of the agenda and handouts of the ninth meeting of the "Expert Panel on Sustainable Finance" <Summary> The FSA published the agenda and handouts of the ninth meeting of the "Expert Panel on Sustainable Finance," which was held online on September 22, 2021. The Expert Panel is composed of business, financial, and academic experts with observers of officials from pertinent ministries and agencies. The FSA (Strategy Development Division, Strategy Development and Management Bureau) serves as the secretariat. (This press release is available in Japanese) https://www.fsa.go.jp/singi/sustainable_finance/siryou/202100922.html

September 22, 2021

Publication of the agenda and handouts of the ninth meeting of the "Expert Panel on Sustainable Finance"
<Summary>
The FSA published the agenda and handouts of the ninth meeting of the "Expert Panel on Sustainable Finance," which was held online on September 22, 2021. The Expert Panel is composed of business, financial, and academic experts with observers of officials from pertinent ministries and agencies. The FSA (Strategy Development Division, Strategy Development and Management Bureau) serves as the secretariat.

(This press release is available in Japanese)
https://www.fsa.go.jp/singi/sustainable_finance/siryou/202100922.html open new window

Banks

September 22, 2021	Administrative actions against Mizuho Bank, Ltd. and Mizuho Financial Group, Inc. <Summary> The FSA took administrative actions against Mizuho Bank, Ltd. and Mizuho Financial Group, Inc., ordering the improvement of the business operations of the entities pursuant to the "Banking Act." (This press release is available in Japanese) https://www.fsa.go.jp/news/r3/ginkou/20210922.html
September 17, 2021	Authorization granted to The Juroku Bank, Ltd. to become a bank holding company by having a bank as its subsidiary <Summary> The FSA granted authorization to The Juroku Bank, Ltd. to become a bank holding company, namely, Juroku Financial Group, Inc., by having a bank as its subsidiary, pursuant to the "Banking Act." (This press release is available in Japanese) https://www.fsa.go.jp/news/r3/ginkou/20210917_1-1/juroku.html
September 17, 2021	Authorization granted to The Bank of Okinawa, Ltd. to become a bank holding company by having a bank as its subsidiary <Summary> The FSA granted authorization to The Bank of Okinawa, Ltd. to become a bank holding company, namely, Okinawa Financial Group, Inc., by having a bank as its subsidiary, pursuant to the "Banking Act." (This press release is available in Japanese) https://www.fsa.go.jp/news/r3/ginkou/20210917_1-2/okinawa.html
September 17, 2021	Authorization granted to The Hokkoku Bank, Ltd. to become a bank holding company by having a bank as its subsidiary <Summary> The FSA granted authorization to The Hokkoku Bank, Ltd. to become a bank holding company, namely, Hokkoku Financial Holdings, Inc., by having a bank as its subsidiary, pursuant to the "Banking Act." (This press release is available in Japanese) https://www.fsa.go.jp/news/r3/ginkou/20210917_1-3/hokkoku.html
September 17, 2021	Authorization granted to The Fukui Bank, Ltd. for acquiring THE FUKUHO BANK, LTD. as a new subsidiary <Summary> The FSA granted authorization to The Fukui Bank, Ltd. for acquiring THE FUKUHO BANK, LTD. as a new subsidiary, pursuant to the "Banking Act." (This press release is available in Japanese) https://www.fsa.go.jp/news/r3/ginkou/20210917_3/fukui.html

Insurance

September 16, 2021	Results of the survey on insurance companies' efforts/initiatives taken to ensure that accessibility services are offered to their customers with disabilities <Summary> The FSA published the results of the survey on insurance companies' efforts/initiatives taken to ensure accessibility for their customers with disabilities (as of March 31, 2021). (This press release is available in Japanese) https://www.fsa.go.jp/common/about/research/20210916/20210916.html

September 16, 2021

Results of the survey on insurance companies' efforts/initiatives taken to ensure that accessibility services are offered to their customers with disabilities
<Summary>
The FSA published the results of the survey on insurance companies' efforts/initiatives taken to ensure accessibility for their customers with disabilities (as of March 31, 2021).

(This press release is available in Japanese)
https://www.fsa.go.jp/common/about/research/20210916/20210916.html open new window

Publication

September 17, 2021	Publication FSA publishes English translation of monthly magazine, Access FSA No.216

Others

September 17, 2021	Approval of the business restructuring plans for certain financial institutions <Summary> The FSA approved and published the business restructuring plans for the following financial institutions based on the "Industrial Competitiveness Enhancement Act." （１）THE FUKUHO BANK, LTD. alongside The Fukui Bank, Ltd. （２）The Hokkoku Bank, Ltd. （３）The Bank of Okinawa, Ltd. （４）The Juroku Bank, Ltd. （５）AIZAWA SECURITIES CO., LTD. （The above press releases are available in Japanese. ）
September 17, 2021	Updated one-stop access to the information on "Meetups on Tsumitate NISA (Dollar-Cost Averaging NISA)" <Summary> The FSA updated the one-stop access pertaining to "Meetups on Tsumitate NISA (Dollar-Cost Averaging NISA)" on the subpages of the "NISA Official Promotion Webpage." The one-stop access mainly provides the background information of the meetups with its key purpose and objectives as well as the schedule information on future meetups (online meetups included). (This press release is available in Japanese) https://www.fsa.go.jp/policy/nisa2/opinion/index.html

September 17, 2021

Approval of the business restructuring plans for certain financial institutions
<Summary>
The FSA approved and published the business restructuring plans for the following financial institutions based on the "Industrial Competitiveness Enhancement Act."
（１）THE FUKUHO BANK, LTD. alongside The Fukui Bank, Ltd. open new window

（２）The Hokkoku Bank, Ltd. open new window

（３）The Bank of Okinawa, Ltd. open new window

（４）The Juroku Bank, Ltd. open new window

（５）AIZAWA SECURITIES CO., LTD. open new window

（The above press releases are available in Japanese. ）

September 17, 2021

Updated one-stop access to the information on "Meetups on Tsumitate NISA (Dollar-Cost Averaging NISA)"
<Summary>
The FSA updated the one-stop access pertaining to "Meetups on Tsumitate NISA (Dollar-Cost Averaging NISA)" on the subpages of the "NISA Official Promotion Webpage." The one-stop access mainly provides the background information of the meetups with its key purpose and objectives as well as the schedule information on future meetups (online meetups included).

(This press release is available in Japanese)
https://www.fsa.go.jp/policy/nisa2/opinion/index.html open new window

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