FSA Weekly Review No.513 November 10, 2022

FSA Weekly Review No.513: November 10, 2022

What’s New on the FSA Website

Week of October 28, 2022 - November 2, 2022

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

Public Comments

November 1, 2022	Publication of the draft amendments to the "Comprehensive Guidelines for Supervision of Small- and Medium-Sized and Regional Financial Institutions" and other relevant and applicable guidelines for public consultation <Summary> The FSA proposed the draft amendments to the "Comprehensive Guidelines for Supervision of Small- and Medium-Sized and Regional Financial Institutions" and other relevant and applicable guidelines for public consultation. In response to the Cabinet decision to implement economic measures to overcome the high cost of living and achieve economic recovery (as of October 28, 2022), in which the development of the measures toward the establishment of financing practices which do not rely on personal guarantees was determined, the proposal is aimed at reflecting the decision in the said Guidelines as a measure. Public comments will be accepted until 12:00 p.m. [noon] (JST), December 1, 2022. The original press release is available in Japanese at the following URL. https://www.fsa.go.jp/news/r4/ginkou/20221101/20221101.html
October 31, 2022	Publication of the updated "Cabinet Office Order to Amend the Regulation for Enforcement of the Banking Act, etc." <Summary> The FSA published the updated "Cabinet Office Order to Amend the Regulation for Enforcement of the Banking Act, etc." The updates* mainly pertain to technical amendments in accordance with the enforcement of the "Act Partially Amending the Act on Special Measures concerning the Handling of Legal Services by Foreign Lawyers." The updated Cabinet Office Order alongside other relevant and applicable Orders and regulatory notices were enforced on November 1, 2022. *The updates mainly pertain to technical amendments, and no public consultation was conducted, for the updates fall under cases prescribed in the "Administrative Procedures Act" as being insignificantly changed and not requiring the implementation of procedures for public consultation, such as the arrangement of the provisions necessary in accordance with the establishment, amendment or repeal of other laws and regulations. The original press release is available in Japanese at the following URL. https://www.fsa.go.jp/news/r4/ginkou/20221031/20221031.html
October 31, 2022	Finalization of Partial Amendment for Regulatory Notice Specifying the Documents Based on Article 2 (1) of the Cabinet Office Order on Financial Instruments Business, etc.

Press Releases

International

October 31, 2022	Updated : International Financial Center Website
October 31, 2022	Updated : The Financial Market Entry Office

Councils

November 1, 2022	Publication of the agenda and handouts of the second meeting of the "Working Group on Corporate Disclosure" (FY 2022) of the Financial System Council <Summary> The FSA published the agenda and handouts of the second meeting of the "Working Group on Corporate Disclosure" (FY 2022) of the Financial System Council, which was held on November 2, 2022. The working group secretariat (i.e. the FSA) gave a briefing on the topic of general sustainability-related disclosures, 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/20221102.html
November 1, 2022	Publication of the agenda and handouts of the first meeting of the "Working Group on Legal Institutions for Cash-flow-focused Lending Practices" (provisional English title) of the Financial System Council <Summary> The FSA published the agenda and handouts of the first meeting of the "Working Group on Legal Institutions for Cash-flow-focused Lending Practices" (provisional English title) of the Financial System Council, which was held on November 2, 2022. A briefing on issues with the current lending practices respectively in Japan and other countries was presented, followed by a discussion among the members on key issues in regard to the institutionalization of a new security interest over all assets that will provide a good incentive for financial institutions to support borrowers' business-continuity and enhancement. The original press release is available in Japanese at the following URL. https://www.fsa.go.jp/singi/singi_kinyu/jigyoyushi_wg/siryou/20221102.html

November 1, 2022

Publication of the agenda and handouts of the second meeting of the "Working Group on Corporate Disclosure" (FY 2022) of the Financial System Council
<Summary>
The FSA published the agenda and handouts of the second meeting of the "Working Group on Corporate Disclosure" (FY 2022) of the Financial System Council, which was held on November 2, 2022. The working group secretariat (i.e. the FSA) gave a briefing on the topic of general sustainability-related disclosures, 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/20221102.html open new window

November 1, 2022

Publication of the agenda and handouts of the first meeting of the "Working Group on Legal Institutions for Cash-flow-focused Lending Practices" (provisional English title) of the Financial System Council
<Summary>
The FSA published the agenda and handouts of the first meeting of the "Working Group on Legal Institutions for Cash-flow-focused Lending Practices" (provisional English title) of the Financial System Council, which was held on November 2, 2022.
A briefing on issues with the current lending practices respectively in Japan and other countries was presented, followed by a discussion among the members on key issues in regard to the institutionalization of a new security interest over all assets that will provide a good incentive for financial institutions to support borrowers' business-continuity and enhancement.

The original press release is available in Japanese at the following URL.
https://www.fsa.go.jp/singi/singi_kinyu/jigyoyushi_wg/siryou/20221102.html open new window

Banks

October 28, 2022	Overview of modifications to lending conditions by financial institutions <Summary> The FSA published an overview of modifications to lending conditions made by financial institutions for the period from March 10, 2020 to September 30, 2022. *The majority of the data reflects the data until September 30, 2022, whereas the data of cooperative financial institutions reflects the data until June 30, 2022. The original press release is available in Japanese at the following URL. https://www.fsa.go.jp/ordinary/coronavirus202001/kashitsuke/20200430.html

October 28, 2022

Overview of modifications to lending conditions by financial institutions
<Summary>
The FSA published an overview of modifications to lending conditions made by financial institutions for the period from March 10, 2020 to September 30, 2022.
*The majority of the data reflects the data until September 30, 2022, whereas the data of cooperative financial institutions reflects the data until June 30, 2022.

The original press release is available in Japanese at the following URL.
https://www.fsa.go.jp/ordinary/coronavirus202001/kashitsuke/20200430.html

Securities

October 31, 2022	Rescission of an order to impose an administrative penalty charge against an officer of SHIFT INC. for communicating insider information regarding stocks of the said entity <Summary> On October 28, 2022, the FSA’s order to impose an administrative penalty charge against an individual, which was imposed in 2017 for communicating insider information to an individual (non-insider) who used the information and committed insider trading regarding stocks of SHIFT INC. was rescinded by the judgement of the court. The original press release is available in Japanese at the following URL. https://www.fsa.go.jp/news/r4/shouken/20221031-1.html
October 28, 2022	Updated list of entities that are operating financial instruments businesses without proper registration (The Kanto Local Finance Bureau) <Summary> The FSA and the Kanto Local Finance Bureau issued a warning to an entity that is operating financial instruments businesses without proper registration. (See the updated list of foreign-based entities). This list also includes the warned non-registered entities with untraceable/unidentified addresses. (Postal and/or web addresses on the list of the warned non-registered foreign-based entities reflect those shown on their respective webpages, not necessarily the addresses that could be traced and identified). [The latest non-registered foreign-based entity warned by the Bureau and added to the list this time also has an untraceable/unidentified address]. The original press release is available in Japanese at the following URL. https://www.fsa.go.jp/ordinary/chuui/mutouroku.html
October 28, 2022	Administrative Actions, etc. against SMBC Nikko Securities Inc. and Sumitomo Mitsui Financial Group, Inc.

Others

October 31, 2022	Results of the survey on financial institutions' efforts/initiatives taken to ensure accessibility for their customers with disabilities <Summary> The FSA published the results of the survey on financial institutions' efforts/initiatives taken to ensure accessibility for their customers with disabilities (as of March 31, 2022). The original press release is available in Japanese at the following URL. https://www.fsa.go.jp/news/r4/ginkou/20221031-2/20221031.html
October 28, 2022	Approval of the application to amend the plan for new business activities filed by Meiwa-machi Chamber of Commerce and Industry,* based on the "Act on Strengthening Industrial Competitiveness" <Summary> Subsequent to the approval the FSA granted (as of August 30, 2022) to the plan for new business activities previously filed by Meiwa-machi Chamber Commerce and Industry* (hereinafter referred to as the "entity") under the "Act on Strengthening Industrial Competitiveness," the FSA approved the application to amend the said plan filed anew by the entity on October 18, 2022, pursuant to the said Act. (The amendments to the plan mainly pertain to the additional issuance and sale of premium vouchers [shopping coupons] aimed at increasing consumer demand, thereby promoting regional industries). *As this entity has no English entity name, the Romanized version of the Japanese entity name is stated here. The original press release is available in Japanese at the following URL. https://www.fsa.go.jp/news/r4/sonota/20221028/20221028.html

October 31, 2022

Results of the survey on financial institutions' efforts/initiatives taken to ensure accessibility for their customers with disabilities
<Summary>
The FSA published the results of the survey on financial institutions' efforts/initiatives taken to ensure accessibility for their customers with disabilities (as of March 31, 2022).

The original press release is available in Japanese at the following URL.
https://www.fsa.go.jp/news/r4/ginkou/20221031-2/20221031.html open new window

October 28, 2022

Approval of the application to amend the plan for new business activities filed by Meiwa-machi Chamber of Commerce and Industry,* based on the "Act on Strengthening Industrial Competitiveness"
<Summary>
Subsequent to the approval the FSA granted (as of August 30, 2022) to the plan for new business activities previously filed by Meiwa-machi Chamber Commerce and Industry* (hereinafter referred to as the "entity") under the "Act on Strengthening Industrial Competitiveness," the FSA approved the application to amend the said plan filed anew by the entity on October 18, 2022, pursuant to the said Act.
(The amendments to the plan mainly pertain to the additional issuance and sale of premium vouchers [shopping coupons] aimed at increasing consumer demand, thereby promoting regional industries).

*As this entity has no English entity name, the Romanized version of the Japanese entity name is stated here.

The original press release is available in Japanese at the following URL.
https://www.fsa.go.jp/news/r4/sonota/20221028/20221028.html

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