FSA Weekly Review No.474 January 27, 2022

FSA Weekly Review No.474: January 27, 2022

What’s New on the FSA Website

Week of January 14, 2022 - January 20, 2022

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

Press Conferences

January 19, 2022	Press Conference by the Minister of State for Financial Services (January 7, 2022)
January 14, 2022	Press Conference by the Minister of State for Financial Services (December 3, 2021)
January 14, 2022	Press Conference by the Minister of State for Financial Services (November 30, 2021)

Public Comments

January 18, 2022	Public Consultation on Cabinet Office Order to Partially Amend Cabinet Office Order on Financial Instruments Business, etc.

Press Releases

Policies

January 17, 2022	Publication of the budget for each policy measure <Summary> The FSA published the budget for each policy measure for FY2022 to link the FY2022 initial budget with policy evaluation. (The original press release is available in Japanese at the following URL.) https://www.fsa.go.jp/common/budget/yosan/seisaku4.html

Councils

January 18, 2022	Publication of the agenda and handouts of the fifth meeting of the "Working Group on Corporate Disclosure" (FY 2021) of the Financial System Council <Summary> The FSA published the agenda and handouts of the fifth meeting of the "Working Group on Corporate Disclosure" (FY 2021) of the Financial System Council, which was held on January 19, 2022. (The original press release is available in Japanese at the following URL.) https://www.fsa.go.jp/singi/singi_kinyu/disclose_wg/siryou/20220119.html
January 14, 2022	Publication of the agenda and handouts of the 61st Meeting of the Financial Service ADR (Alternative Dispute Resolution) Liaison Group <Summary> The FSA published the agenda and handouts of the 61st Meeting of the Financial Service ADR Liaison Group, which was held on January 14, 2022. (The original press release is available in Japanese at the following URL.) https://www.fsa.go.jp/singi/singi_trouble/siryou/20220114.html

January 18, 2022

Publication of the agenda and handouts of the fifth meeting of the "Working Group on Corporate Disclosure" (FY 2021) of the Financial System Council
<Summary>
The FSA published the agenda and handouts of the fifth meeting of the "Working Group on Corporate Disclosure" (FY 2021) of the Financial System Council, which was held on January 19, 2022.

(The original press release is available in Japanese at the following URL.)
https://www.fsa.go.jp/singi/singi_kinyu/disclose_wg/siryou/20220119.html open new window

January 14, 2022

Publication of the agenda and handouts of the 61st Meeting of the Financial Service ADR (Alternative Dispute Resolution) Liaison Group
<Summary>
The FSA published the agenda and handouts of the 61st Meeting of the Financial Service ADR Liaison Group, which was held on January 14, 2022.

(The original press release is available in Japanese at the following URL.)
https://www.fsa.go.jp/singi/singi_trouble/siryou/20220114.html open new window

Banks

January 14, 2022	License granted to Clearstream Banking S.A., Japan Branch to conduct banking business <Summary> The FSA granted a license to Clearstream Banking S.A., Japan Branch to conduct banking business pursuant to the "Banking Act." (The original press release is available in Japanese at the following URL.) https://www.fsa.go.jp/news/r3/ginkou/202201/20220114.html

Insurance

January 18, 2022	The 1st EIOPA-FSA Insurance Dialogue
January 18, 2022	Publication of the newly defined common KPIs (Key Performance Indicators) comparable across foreign currency denominated insurance distributors <Summary> The FSA published the newly defined common KPIs (Key Performance Indicators) comparable across foreign currency denominated insurance distributors. The said KPIs are aimed at helping customers choose financial services providers that offer high-quality, customer-oriented financial products and services, and at making it easier to compare products across certain types of businesses, by setting forth two indicators (defined on the same basis as common KPIs comparable across investment trusts distributors based on the "Principles for Customer-Oriented Business Conduct"), namely, the "customer ratio based on investment return," and "cost and return on investment by issue." "Principles for Customer-Oriented Business Conduct" was updated on January 15, 2021. (The original press release is available in Japanese at the following URL.) https://www.fsa.go.jp/news/r3/hoken/20220118/20220118.html

January 18, 2022

The 1st EIOPA-FSA Insurance Dialogue

January 18, 2022

Publication of the newly defined common KPIs (Key Performance Indicators) comparable across foreign currency denominated insurance distributors
<Summary>
The FSA published the newly defined common KPIs (Key Performance Indicators) comparable across foreign currency denominated insurance distributors. The said KPIs are aimed at helping customers choose financial services providers that offer high-quality, customer-oriented financial products and services, and at making it easier to compare products across certain types of businesses, by setting forth two indicators (defined on the same basis as common KPIs comparable across investment trusts distributors based on the "Principles for Customer-Oriented Business Conduct"*), namely, the "customer ratio based on investment return," and "cost and return on investment by issue."

* "Principles for Customer-Oriented Business Conduct" was updated on January 15, 2021.

(The original press release is available in Japanese at the following URL.)
https://www.fsa.go.jp/news/r3/hoken/20220118/20220118.html open new window

Others

January 20, 2022	Caution: Regarding unreported and unregistered companies that issue prepaid means of payment
January 19, 2022	Request for financial measures to deal with the outbreak of highly pathogenic avian flu (HPAI) in Chiba 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 Subspecies of Highly Pathogenic Avian Influenza (HPAI)" to relevant financial institutions. The statement requests financial institutions in Chiba Prefecture to cooperate with prefectural authorities and appropriately deal with HPAI-affected parties (poultry farms, processors, and trade) considering their circumstances, such as by attentively responding to the needs of business management consultation and new loans or the changing of loan terms. (The original press release is available in Japanese at the following URL.) https://www.fsa.go.jp/news/r3/ginkou/20220119.html
January 18, 2022	Symposium on financial and economic education, and consumer education for high school students and teachers <Summary> The FSA announced that the Hokkaido Local Finance Bureau will hold a symposium on financial and economic education, and on consumer education for high school students and teachers on March 25, 2022. The symposium is aimed at further improving the financial literacy of participants through hands-on experiential group work activities and lectures by experts. (The original press release is available in Japanese at the following URL.) https://www.fsa.go.jp/news/r3/sonota/20220118/20220118.html
January 17, 2022	Warning against phishing e-mail messages that claim to be from financial institutions under the guise of conducting an Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) questionnaire survey, asking for personal information <Summary> The FSA issued a warning against phishing e-mail messages that claim to be from financial institutions under the guise of conducting an Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) questionnaire survey, asking for personal information.* The warning alerts service users to beware of such suspicious e-mail messages, and urges NOT to open attachments or links in the body of those e-mail messages. * Financial institutions will NEVER ask customers to provide their login ID and passwords for online banking, and PIN codes for financial transactions through e-mail or websites, as part of their AML/CFT measures. (The original press release is available in Japanese at the following URL.) https://www.fsa.go.jp/news/r3/20220117/20220117.html
January 17, 2022	Stewardship Code : 321 institutional investors have signed up to the Principles for Responsible Institutional Investors as of December 31, 2021
January 14, 2022	Warning against potential risks in regard to overborrowing and falling victim to illegal usury practices in response to the lowering of the age of majority (adulthood) scheduled to be enforced in April 2022 <Summary> In response to the lowering of the age of majority (adulthood) from the current 20 (years of age) to 18 scheduled to be enforced in April 2022 pursuant to the "Act for Partial Amendments to the Civil Code" (aka "Civil Code Amendment Act"), the FSA issued a warning against potential risks in regard to overborrowing from money lenders and to falling victim to illegal usury practices conducted by illegal loan sharks (money lenders). This warning information is available on the subpage of the FSA's website that provides one-stop access to the relevant information on the FSA's initiatives and approaches that have been taken so far and are to be taken in regard to the lowering of the age of majority (adulthood), as well as useful information to improve financial literacy, particularly for new adults. (The original press release is available in Japanese at the following URL.) https://www.fsa.go.jp/ordinary/chuui/seinen.html
January 14, 2022	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. (The original press release is available in Japanese at the following URL.) https://www.fsa.go.jp/ordinary/chuui/index.html

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