Financial Services AgencyFSA Weekly Review No.477

February 17, 2022

What’s New on the FSA Website

Week of February 4, 2022 - February 10, 2022

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

Press Conferences

February 10, 2022 Press Conference by the Minister of State for Financial Services (January 25, 2022)
February 10, 2022 Press Conference by the Minister of State for Financial Services (January 18, 2022)

Press Releases

Councils

February 10, 2022 The sixth meeting of the Working Group on Corporate Disclosure of the Financial System Council

 

Securities

February 8, 2022 Administrative action against Cross Technology Venture Partners Kabushiki Kaisha
<Summary>
The Kanto Local Finance Bureau took an administrative action against Cross Technology Venture Partners Kabushiki Kaisha,* a notifier of specially permitted business for qualified institutional investors (SPBQII), which failed to file the mandatory business reports with the Bureau, and which the Bureau cannot ascertain the location of its office, ordering the abolition of the notifier's entire SPBQII and the improvement of its business operations pursuant to the "Financial Instruments and Exchange Act."
*As this corporation has no English corporate name, the Romanized version of the Japanese corporate name is stated here.

(The original press release is available in Japanese at the following URL.)
https://www.fsa.go.jp/news/r3/shouken/20220208.htmlopen new window
February 7, 2022 Rescission of orders to impose administrative penalty charges against five individuals for committing insider trading regarding stocks of Morpho, Inc. by using information received as employees of the entity
<Summary>
On February 5, 2022, the FSA’s orders to impose administrative penalty charges against five individuals, which were imposed in 2018 for committing insider trading regarding stocks of Morpho, Inc. by using information received as employees of the said entity were rescinded by the judgement of the court.

(The original press release is available in Japanese at the following URL.)
https://www.fsa.go.jp/policy/kachoukin/05.htmlopen new window
https://www.fsa.go.jp/news/r3/shouken/20220207-5.htmlopen new window　
https://www.fsa.go.jp/news/r3/shouken/20220207-4.htmlopen new window　
https://www.fsa.go.jp/news/r3/shouken/20220207-3.htmlopen new window
https://www.fsa.go.jp/news/r3/shouken/20220207-2.htmlopen new window　
https://www.fsa.go.jp/news/r3/shouken/20220207-1.htmlopen new window
February 4, 2022 Administrative action against Fintech Japan,Inc.
<Summary>
The Kanto Local Finance Bureau took an administrative action against Fintech Japan,Inc., a business operator that engages in Type II financial instruments business, which the Kanto Local Finance Bureau cannot ascertain the location of its office, ordering the revocation of the entity’s registration pursuant to the "Financial Instruments and Exchange Act." (Details of the administrative action are available on the website of the Kanto Local Finance Bureauopen new window) (available only in Japanese).

(The original press release is available in Japanese at the following URL.)
https://www.fsa.go.jp/news/r3/shouken/20220204.htmlopen new window
 


Others

February 10, 2022 Publication of the main issues raised by the FSA at opinion exchange meetings with the relevant associations in the financial sector
<Summary>
The FSA has published the main issues raised by the FSA at opinion exchange meetings* held with the relevant associations in the financial sector in January 2022. (Available only in Japanese).
 

* To enhance the transparency of its administration and to share its awareness of issues in the financial sector in a timely manner, the FSA publishes every month the main issues raised by the FSA at opinion exchange meetings with the relevant associations** in the financial sector. Opinion exchange meetings are held with the respective associations on a regular basis.

** In January 2022, opinion exchange meetings were held respectively with five groups: major banks, etc.; the Regional Banks Association of Japan and the Second Association of Regional Banks; the Trust Companies Association of Japan; Japan Securities Dealers Association; and the Investment Trusts Association, Japan.


(The original press release is available in Japanese at the following URL.)
https://www.fsa.go.jp/common/ronten/index.htmlopen new window
February 10, 2022 Publication of the final report of an outsourced survey mainly on impact indicators (particularly those in regard to social effects) for social bonds
<Summary>
The FSA published 新しいウィンドウで開きますthe final reportopen new window of an outsourced survey* mainly on impact indicators (particularly those in regard to social effects) for social bonds.
For consideration of setting out examples of specific indicators (impact indicators) to evaluate the social effects of social bonds, the survey was conducted in regard to impact indicators and negative impacts associated with social projects, by referring to examples of social bonds or sustainability bonds issued in Japan and abroad, practices of social businesses (in Japan and abroad), and lists of social impact indicators that have already been developed (in Japan and abroad).
* The survey was outsourced to Mitsubishi UFJ Research and Consulting Co., Ltd. The final report is available only in Japanese.

(The original press release is available in Japanese at the following URL.)
https://www.fsa.go.jp/common/about/research/20211221/20211221-1.htmlopen new window
February 10, 2022 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 December 2021), and the publication of an analysis report on the common KPIs comparable across investment trust distributors reported by the respective financial institutions on the said list as of the end of March 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 the end of December 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.
The FSA also published an updated trend analysis report on the common KPIs comparable across investment trust distributors reported by the respective financial institutions as of the end of March 2021. 

(The original press release is available in Japanese at the following URL.)
https://www.fsa.go.jp/news/r3/kokyakuhoni/202202/fd_2021.htmlopen new window
February 10, 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.htmlopen new window
February 10, 2022 Stewardship Code : 320 institutional investors have signed up to the Principles for Responsible Institutional Investors as of January 31, 2022
February 4, 2022 Publication of the updated FY 2021 edition of the reference casebook of good practices on the disclosure of narrative information
<Summary>
Following the publication of the FY 2021 edition of the reference casebook* in December 2021, the FSA published the updated FY 2021 edition by adding good practices on the following section items:

- Corporate management policy, business operational environment, and business priorities (key business issues to be addressed)

- Business-related risks (and other risks)

- Management discussion and analysis in terms of the financial position, business performance (operating results), and cash flow conditions (MD&A).

* The FSA has been publishing a series of reference casebooks of good practices on the disclosure of narrative information to encourage the disclosure of enhanced corporate narrative information that contributes to constructive dialogue between investors and corporations.


(The original press release is available in Japanese at the following URL.)
https://www.fsa.go.jp/news/r3/singi/20220204.htmlopen new window

 

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