FSA Weekly Review No.514 November 17, 2022

FSA Weekly Review No.514: November 17, 2022

What’s New on the FSA Website

Week of November 4, 2022 - November 10, 2022

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

Public Comments

November 7, 2022	Publication of the draft amendments to the "Cabinet Office Order on Disclosure of Corporate Affairs" and other relevant and applicable cabinet office orders for public consultation <Summary> The FSA proposed the draft amendments to the "Cabinet Office Order on Disclosure of Corporate Affairs" and other relevant and applicable cabinet office orders for public consultation. In response to the recommendation in the summary report of the "Working Group on Corporate Disclosure" (FY 2021)* of the Financial System Council published in June 2022 to develop a regulatory framework mainly for "disclosure of corporate initiatives regarding sustainability" and "disclosure of corporate governance," the proposal is intended to provide amendments to the narrative information to be filled out in the Annual Securities Report and Securities Registration Statement. In this regard, the FSA also proposed the draft amendments to the "Cabinet Office Order on Special Provisions for Procedures by Use of an Electronic Data Processing System for Disclosure" to allow the filing of disclosure documents using alternative methods as a temporary measure in the event where EDINET is not in operation. Public comments will be accepted until 5:00 p.m. (JST), December 7, 2022. * The summary report refers to "Report of Working Group on Corporate Disclosure (FY 2021) – Toward the Creation of a Capital Market That Will Contribute to Medium- and Long-Term Enhancement in Corporate Value" (provisional English title) [available only in Japanese]. The original press release is available in Japanese at the following URL. https://www.fsa.go.jp/news/r4/sonota/20221107/20221107.html

November 7, 2022

Publication of the draft amendments to the "Cabinet Office Order on Disclosure of Corporate Affairs" and other relevant and applicable cabinet office orders for public consultation
<Summary>
The FSA proposed the draft amendments to the "Cabinet Office Order on Disclosure of Corporate Affairs" and other relevant and applicable cabinet office orders for public consultation.
In response to the recommendation in the summary report of the "Working Group on Corporate Disclosure" (FY 2021)* of the Financial System Council published in June 2022 to develop a regulatory framework mainly for "disclosure of corporate initiatives regarding sustainability" and "disclosure of corporate governance," the proposal is intended to provide amendments to the narrative information to be filled out in the Annual Securities Report and Securities Registration Statement.
In this regard, the FSA also proposed the draft amendments to the "Cabinet Office Order on Special Provisions for Procedures by Use of an Electronic Data Processing System for Disclosure" to allow the filing of disclosure documents using alternative methods as a temporary measure in the event where EDINET is not in operation.
Public comments will be accepted until 5:00 p.m. (JST), December 7, 2022.

* The summary report refers to "Report of Working Group on Corporate Disclosure (FY 2021) – Toward the Creation of a Capital Market That Will Contribute to Medium- and Long-Term Enhancement in Corporate Value" (provisional English title) [available only in Japanese].

The original press release is available in Japanese at the following URL.
https://www.fsa.go.jp/news/r4/sonota/20221107/20221107.html open new window

Press Releases

Policies

November 8, 2022	Publication of the FSA's second supplementary budget (draft) for FY 2022 <Summary> The FSA published its second supplementary budget (draft) for FY 2022 (available only in Japanese). The original press release is available in Japanese at the following URL. https://www.fsa.go.jp/common/budget/yosan/4youkyuu-5.html

International

November 4, 2022	Updated : International Financial Center Website

Publication

November 4, 2022	FSA publishes English translation of monthly magazine, Access FSA No.227
November 4, 2022	FSA publishes English translation of monthly magazine, Access FSA No.226
November 4, 2022	FSA publishes English translation of monthly magazine, Access FSA No.225

Councils

November 10, 2022	Publication of the agenda and handouts of the second 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 second 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 11, 2022. The working group members had a discussion on interviews held with relevant stakeholders (practitioners) in the financial sector and on key points for the institutionalization of a new security interest over all assets. The original press release is available in Japanese at the following URL. https://www.fsa.go.jp/singi/singi_kinyu/jigyoyushi_wg/siryou/20221111.html
November 10, 2022	Publication of the agenda and handouts of the second meeting of the "Working Group on Impact Investment" <Summary> The FSA published the agenda and handouts of the second meeting of the "Working Group on Impact Investment," which was held on November 11, 2022. Some of the Working Group members and observers shared impact investment initiatives and practices taken in the financial sector, followed by a discussion. The original press release is available in Japanese at the following https://www.fsa.go.jp/singi/impact/siryou/20221111.html
November 9, 2022	Publication of the agenda of the eighth meeting of the "Technical Committee for ESG Rating and Data Providers, etc." <Summary> The FSA published the agenda of the eighth meeting of the "Technical Committee for ESG Rating and Data Providers, etc.,"* which was held on November 10, 2022. The secretariat (the FSA) gave a briefing on the status of the public consultation regarding "the Code of Conduct for ESG Evaluation and Data Providers," followed by a discussion among the Committee members. *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, along 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/20221110.html
November 7, 2022	Publication of the agenda and handouts of the 23rd meeting of the Internal Control Committee of the Business Accounting Council <Summary> The FSA published the agenda and handouts of the 23rd meeting of the Internal Control Committee of the Business Accounting Council, which was held on November 8, 2022. The secretariat outlined the key contents of the discussion held at the previous 22nd meeting of the Committee, and based on those key contents, gave a briefing on the direction for reviewing the internal control reporting system, followed by a discussion among the participants at the 23rd meeting of the Committee. The original press release is available in Japanese at the following URL. https://www.fsa.go.jp/singi/singi_kigyou/siryou/naibu/20221108.html
November 4, 2022	Publication of the agenda and handouts of the third meeting of the "Customer-Oriented Business Conduct Task Force" (provisional English title) of the Financial System Council <Summary> The FSA published the agenda and handouts of the third meeting of the "Customer-Oriented Business Conduct Task Force"* (provisional English title) of the Financial System Council, which was held on November 7, 2022. The task force secretariat (the FSA) gave a briefing on the key topics below, followed by a discussion. - Key comments from the members at the previous (second) meeting - Initiatives for customer-oriented business conduct [fiduciary duty] - Initiatives taken by the national and local governments to encourage stable asset formation (of households), and - A system for improved information provision to customers by the use of digital tools. * This task force was launched by "Working Group on Capital Market Regulations" (provisional English title) of the Financial System Council to further discuss matters related to the customer-oriented business conduct. The FSA serves as the secretariat of both the task force and the working group. The original press release is available in Japanese at the following https://www.fsa.go.jp/singi/singi_kinyu/kokyakuhoni_tf/siryou/20221107.html

Banks

November 10, 2022	Publication of a summary of the survey on financial institutions' preventive measures against unlawful reimbursement of deposits (as of the end of March 2022) <Summary> The FSA published a summary of the survey on financial institutions' preventive measures against unlawful reimbursement of deposits as of March 31, 2022 (the end of FY 2021) [available only in Japanese]. In order to grasp the status of the enforcement of the "Act on Protection of Depositors and Postal Saving Holders from Unauthorized Automated Withdrawal, Using Counterfeit Cards, and Stolen Cards," the FSA collects information annually from financial institutions and publishes the summary. The original press release is available in Japanese at the following URL. https://www.fsa.go.jp/news/r4/ginkou/20221110/20221110.html

November 10, 2022

Publication of a summary of the survey on financial institutions' preventive measures against unlawful reimbursement of deposits (as of the end of March 2022)
<Summary>
The FSA published a

summary of the survey on financial institutions' preventive measures against unlawful reimbursement of deposits as of March 31, 2022 (the end of FY 2021) open new window

[available only in Japanese]. In order to grasp the status of the enforcement of the "Act on Protection of Depositors and Postal Saving Holders from Unauthorized Automated Withdrawal, Using Counterfeit Cards, and Stolen Cards," the FSA collects information annually from financial institutions and publishes the summary.

The original press release is available in Japanese at the following URL.
https://www.fsa.go.jp/news/r4/ginkou/20221110/20221110.html open new window

Others

November 10, 2022	Stewardship Code : 322 institutional investors have signed up to the Principles for Responsible Institutional Investors as of October 31, 2022
November 9, 2022	Publication of the English translation of "Frequently Asked Questions Regarding “Guidelines for Anti-Money Laundering and Combating the Financing of Terrorism”"
November 8, 2022	Updated statistics of money lending business
November 4, 2022	Fintech and Innovation
November 4, 2022	Publication of "Statistics of NISA and Junior NISA Accounts" as of June 30, 2022 <Summary> The FSA has published (the latest) "Statistics of NISA and Junior NISA Accounts." As of June 30, 2022, there were approximately 17.0 million NISA accounts in total, and approximately 28.0 trillion yen (approximately 190.0 billion USD) was invested through the NISA accounts, among which, 2.1 trillion yen (approximately 14.3 billion USD) was invested through approximately 6.4 million accounts of the Tsumitate NISA (Dollar-Cost Averaging NISA) which has started since January 2018. The original press release is available in Japanese at the following URL. https://www.fsa.go.jp/policy/nisa/20221104.html

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