FSA Weekly Review No.478 February 25, 2022

FSA Weekly Review No.478: February 25, 2022

What’s New on the FSA Website

Week of February 11, 2022 - February 17, 2022

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

Public Comments

February 16, 2022	Publication of the draft amendments to the "Points to Note on Disclosure of Corporate Affairs, etc. (Guidelines for Disclosure of Corporate Affairs, etc.)" (provisional English title) for public consultation <Summary> The FSA published the draft amendments (hereinafter referred to as the "proposal") to the "Points to Note on Disclosure of Corporate Affairs, etc. (Guidelines for Disclosure of Corporate Affairs, etc.)" (provisional English title) for public consultation. The proposal mainly intends to provide amendments to the said Guidelines in response to the recommendation stated in the second report published in June 2021 by the "Working Group on Capital Market Regulations" (provisional English title) of the Financial System Council, such as by expressly setting forth that an online advertisement of an offering of securities shall not fall under the category of securities offerings, provided that the advertisement (e.g. solicitations and advertisements on a dedicated website for financial instruments business operators, etc.) is only accessible by notifiers of SPBQII (Specially Permitted Business for Qualified Institutional Investors) and professional investors, and that the appropriate operation of such dedicated website is ensured. Public comments will be accepted until 05:00 p.m. (JST), March 18, 2022. (The original press release is available in Japanese at the following URL.) https://www.fsa.go.jp/news/r3/sonota/20220216/20220216.html
February 14, 2022	Publication of the draft "Cabinet Office Order to Amend the Ordinance for Enforcement of the Act on Investment Trusts and Investment Corporations" for public consultation <Summary> The FSA has published the draft "Cabinet Office Order to Amend the Ordinance for Enforcement of the Act on Investment Trusts and Investment Corporations" (hereinafter referred to as the "proposal") for public consultation. The proposal mainly intends to provide amendments to the said Ordinance for Enforcement and other relevant and applicable rules, in accordance with the enforcement of the "Act Partially Amending the Electricity Business Act, etc. to Establish a Resilient and Sustainable Electricity Supply System" (Act No.49 of June 12, 2020) (provisional English law title). Public comments will be accepted until 12:00 a.m. (midnight, JST), March 15, 2022. (The original press release is available in Japanese at the following URL.) https://www.fsa.go.jp/news/r3/shouken/20220214/20220214.html

February 16, 2022

Publication of the draft amendments to the "Points to Note on Disclosure of Corporate Affairs, etc. (Guidelines for Disclosure of Corporate Affairs, etc.)" (provisional English title) for public consultation
<Summary>
The FSA published the draft amendments (hereinafter referred to as the "proposal") to the "Points to Note on Disclosure of Corporate Affairs, etc. (Guidelines for Disclosure of Corporate Affairs, etc.)" (provisional English title) for public consultation.
The proposal mainly intends to provide amendments to the said Guidelines in response to the recommendation stated in the second report published in June 2021 by the "Working Group on Capital Market Regulations" (provisional English title) of the Financial System Council, such as by expressly setting forth that an online advertisement of an offering of securities shall not fall under the category of securities offerings, provided that the advertisement (e.g. solicitations and advertisements on a dedicated website for financial instruments business operators, etc.) is only accessible by notifiers of SPBQII (Specially Permitted Business for Qualified Institutional Investors) and professional investors, and that the appropriate operation of such dedicated website is ensured.
Public comments will be accepted until 05:00 p.m. (JST), March 18, 2022.

(The original press release is available in Japanese at the following URL.)
https://www.fsa.go.jp/news/r3/sonota/20220216/20220216.html open new window

February 14, 2022

Publication of the draft "Cabinet Office Order to Amend the Ordinance for Enforcement of the Act on Investment Trusts and Investment Corporations" for public consultation
<Summary>
The FSA has published the draft "Cabinet Office Order to Amend the Ordinance for Enforcement of the Act on Investment Trusts and Investment Corporations" (hereinafter referred to as the "proposal") for public consultation.
The proposal mainly intends to provide amendments to the said Ordinance for Enforcement and other relevant and applicable rules, in accordance with the enforcement of the "Act Partially Amending the Electricity Business Act, etc. to Establish a Resilient and Sustainable Electricity Supply System" (Act No.49 of June 12, 2020) (provisional English law title). Public comments will be accepted until 12:00 a.m. (midnight, JST), March 15, 2022.

(The original press release is available in Japanese at the following URL.)
https://www.fsa.go.jp/news/r3/shouken/20220214/20220214.html open new window

Press Releases

Councils

February 17, 2022	Establishment of “Technical Committee for ESG Rating and Data Providers, etc.”
February 17, 2022	Publication of the agenda and handouts of the first meeting of the "Technical Committee for ESG Rating and Data Providers, etc." <Summary> The FSA published the agenda and handouts of the first meeting of the "Technical Committee for ESG Rating and Data Providers, etc.,"* which was held on February 7, 2022. Two members of the committee gave a presentation on key points to note for the discussion over ESG rating and data providers, and on the current and future state of ESG rating and data services, followed by a discussion. * This Technical Committee has been established under the "Expert Panel on Sustainable Finance" to aggregate a wide range of information on green bonds, etc., as well as ESG (Environmental Social and Governance) rating and data providers. The Committee is composed of practitioners, market participants, and academics who are involved in ESG assessment and data provision, with observers of officials from pertinent ministries and agencies. The FSA (Strategy Development Division, Strategy Development and Management Bureau) serves as the secretariat. (The original press release is available in Japanese at the following URL.) https://www.fsa.go.jp/singi/esg_hyouka/siryou/20220207.html
February 17, 2022	Publication of the agenda and handouts of the sixth 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 sixth meeting of the "Working Group on Corporate Disclosure" (FY 2021) of the Financial System Council, which was held on February 18, 2022. The working group secretariat (the FSA) and the working group members gave a briefing on the topic of the frequency and timing of information (including narrative information) disclosure, followed by a discussion. (The original press release is available in Japanese at the following URL.) https://www.fsa.go.jp/singi/singi_kinyu/disclose_wg/siryou/20220218.html
February 16, 2022	Publication of the agenda and handouts of the 15th meeting of the "Working Group on Capital Market Regulations" (provisional English title) of the Financial System Council <Summary> The FSA published the agenda and handouts of the 15th meeting of the "Working Group on Capital Market Regulations" (provisional English title) of the Financial System Council, which was held on February 17, 2022. The Working Group members discussed ways to facilitate the provision of funds for corporate growth and business revitalization. (The original press release is available in Japanese at the following URL.) https://www.fsa.go.jp/singi/singi_kinyu/market-system/siryou/20220217.html

Others

February 16, 2022	Updated one-stop access to the information in regard to the lowering of the age of majority [adulthood] (including useful information to improve financial literacy, particularly for new adults) <Summary> The FSA has updated its one-stop access to the information in regard to the lowering of the age of majority [adulthood] (including useful information to improve financial literacy, particularly for new adults). The updates mainly pertain to the request from the FSA to money lenders to ensure compliance with the updated self-regulatory guidelines* set forth by Japan Financial Services Association (a self-regulatory association), particularly in regard to lending to young people in light of preventing them from indebtedness attributed to over-borrowing, taking into account the lowering of the age of majority (adulthood). * The self-regulatory guidelines of the Money Lenders Association of Japan (a self-regulatory organization) have been updated, by expressly setting out the following: When lending to young people, regardless of the amount of the loan, documents showing the status of income (such as salary statements or withholding records) of those borrowers shall be collected and verified, so that the status of income is carefully confirmed and young people (borrowers) do not incur excessive debt. (The original press release is available in Japanese at the following URL.) https://www.fsa.go.jp/ordinary/chuui/seinen.html
February 14, 2022	Request for financial measures to deal with the outbreak of highly pathogenic avian flu (HPAI) in Iwate Prefecture (The Tohoku Local Finance Bureau) <Summary> The Tohoku Local Finance Bureau issued a statement "Financial Measures in Response to the Report of the Subspecies of Highly Pathogenic Avian Influenza (HPAI)" to relevant financial institutions in Iwate Prefecture on February 14, 2022. The statement requests financial institutions 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/20220214.html

February 16, 2022

Updated one-stop access to the information in regard to the lowering of the age of majority [adulthood] (including useful information to improve financial literacy, particularly for new adults)
<Summary>
The FSA has updated its one-stop access to the information in regard to the lowering of the age of majority [adulthood] (including useful information to improve financial literacy, particularly for new adults).
The updates mainly pertain to the request from the FSA to money lenders to ensure compliance with the updated self-regulatory guidelines* set forth by Japan Financial Services Association (a self-regulatory association), particularly in regard to lending to young people in light of preventing them from indebtedness attributed to over-borrowing, taking into account the lowering of the age of majority (adulthood).

* The self-regulatory guidelines of the Money Lenders Association of Japan (a self-regulatory organization) have been updated, by expressly setting out the following: When lending to young people, regardless of the amount of the loan, documents showing the status of income (such as salary statements or withholding records) of those borrowers shall be collected and verified, so that the status of income is carefully confirmed and young people (borrowers) do not incur excessive debt.

(The original press release is available in Japanese at the following URL.)
https://www.fsa.go.jp/ordinary/chuui/seinen.html open new window

February 14, 2022

Request for financial measures to deal with the outbreak of highly pathogenic avian flu (HPAI) in Iwate Prefecture (The Tohoku Local Finance Bureau)
<Summary>
The Tohoku Local Finance Bureau issued a statement "Financial Measures in Response to the Report of the Subspecies of Highly Pathogenic Avian Influenza (HPAI)" to relevant financial institutions in Iwate Prefecture on February 14, 2022. The statement requests financial institutions 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/20220214.html open new window

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