What’s New on the FSA Website

Week of July 1, 2022 - July 7, 2022

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

Public Comments

July 4, 2022

Publication of the finalized "Cabinet Office Order to Amend the Ordinance for Enforcement of the Insurance Business Act" and the finalized amendments to the "Comprehensive Guidelines for Supervision of Insurance Companies" for public consultation <Summary> The FSA published the finalized "Cabinet Office Order to Amend the Ordinance for Enforcement of the Insurance Business Act" and the finalized amendments to the "Comprehensive Guidelines for Supervision of Insurance Companies" for public consultation. The finalized Cabinet Office Order provides technical amendments to the form/format of the business report for insurance agencies prescribed in Appended Form No. 25-2 or No. 25-3 of the "Ordinance for Enforcement of the Insurance Business Act," so that the said form/format can be used as an effective starting point for monitoring and can be used by insurance agencies for the development of a self-sustaining corporate structure. The amendments also reflect the above in the said comprehensive guidelines.  The finalized Cabinet Office Order alongside the amendments to the comprehensive guidelines for supervision were either enforced or took effect on July 4, 2022. (The amendments to the form/format are applicable to business reports for fiscal years ending on or after March 31, 2023). The original press release is available in Japanese at the following URL. https://www.fsa.go.jp/news/r4/hoken/20220704/20220704.html

Press Releases

International 

July 7, 2022	Updated : International Financial Center Website

Councils

July 5, 2022	Updated : The Council of Experts Concerning the Follow-up of Japan’s Stewardship Code and Japan’s Corporate Governance Code

Banks

July 1, 2022

Publication of the updated "Guidelines for Personal Guarantee Provided by Business Owners" and other relevant documents <Summary> The FSA published the updated "Guidelines for Personal Guarantee Provided by Business Owners," and other relevant documents. From the perspective of facilitating smooth application of the Guidelines by further clarifying its objectives, the guidelines were revised by the study group on the "Guidelines for Personal Guarantee Provided by Business Owners." The original press release is available in Japanese at the following URL. https://www.fsa.go.jp/news/r4/ginkou/20220701.html

Securities

July 6, 2022

Administrative penalty charge against an individual for committing insider trading regarding stocks of FamilyMart Co., Ltd., by using insider information learned as an officer of the contract negotiator with a tender offeror <Summary> On July 5, 2022, the FSA issued an order to impose an administrative penalty charge against an individual for committing insider trading regarding stocks of FamilyMart Co., Ltd., by using information learned as an officer of the contract negotiator with a tender offeror, in violation of the "Financial Instruments and Exchange Act." The original press release is available in Japanese at the following URL. https://www.fsa.go.jp/news/r4/shouken/20220706.html

Others

July 6, 2022	Stewardship Code : 323 institutional investors have signed up to the Principles for Responsible Institutional Investors as of June 30, 2022
July 6, 2022	Exchange session between the FSA and the FISC (The Center for Financial Industry Information Systems) <Summary> On June 15, 2022, the FSA held an exchange session with the FISC (The Center for Financial Industry Information Systems), in which the FISC gave a briefing on "Standards and Instruction Manual for Safety Measures for Financial Institutions' Computer Systems, etc." (provisional English title), whereas the FSA gave a briefing on its initiatives to strengthen cyber-security in the financial sector, followed by an exchange of opinions. The original press release is available in Japanese at the following URL. https://www.fsa.go.jp/news/r4/sonota/20220706/20220706.html
July 6, 2022	Updated list of issuers of gift certificates in repayment procedures based on the ’Payment Services Act’