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FSA Weekly Review No.576 - February 29, 2024
What’s New on the FSA Website
Week of February 16, 2024 - February 22, 2024
This page contains the latest in events, developments, and updates to the FSA website.
Press Conferences
Public Comments
| February 19, 2024 | Publication of the finalized "Cabinet Office Order to Amend the Regulation on Terminology, Forms and Preparation Methods of Consolidated Financial Statements," etc. after public consultation <Summary>
The FSA published the finalized "Cabinet Office Order to Amend the Regulation on Terminology, Forms and Preparation Methods of Consolidated Financial Statements," etc. after public consultation.
The finalized Cabinet Office Order, etc. mainly provide consequential amendments to the said Regulation and others in response to the following practical solution and revised accounting standards published by the Accounting Standards Board of Japan (ASBJ) on November 17, 2023:
- Practical Solution No. 45, the Tentative Treatment of Accounting for and Disclosures of Certain Electronic Means of Payments under the Payment Services Act," and
- ASBJ Statement No. 32, Partial Amendments to the Accounting Standard for Preparing Consolidated Statements of Cash Flows.
The finalized Cabinet Office Order, etc. were enforced on February 19, 2024.
The original press release is available in Japanese.  |
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Press Releases
Policies
| February 21, 2024 | Updated Japan Fintech Week official website |
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| February 20, 2024 | Publication of the Progress Report for “Improving Internal Audits of Financial Institutions” (Interim Report) |
Councils
| February 19, 2024 | Publication of the agenda and handouts of the ninth meeting of the "Working Group on Impact Investment" <Summary> The FSA published the agenda and handouts of the ninth meeting of the "Working Group on Impact Investment," which was held on February 20, 2024. The Working Group members engaged in discussion pertaining to the draft basic guidelines for impact investment. The original press release is available in Japanese. |
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| February 16, 2024 | Publication of the agenda and handouts of the joint session of the 52nd general meeting of Financial System Council and the 40th meeting of Sectional Committee on Financial System <Summary> The FSA published the agenda and handouts of the joint session of the 52nd general meeting of Financial System Council and the 40th meeting of Sectional Committee on Financial System, which were jointly held on February 19, 2024. The members of the Council and the Sectional Committee engaged in consultation and discussion in regard to the draft "Basic Policy Direction for Holistic Enhancement of Policy Measures to Support Households' Stable Asset Formation" (provisional English title). The original press release is available in Japanese. |
Banks
| February 22, 2024 | Decision on subscription for preferred equity investments in the Shinkumi Federation Bank (central body for Japan credit cooperatives) pursuant to the “Act on Special Measures for Strengthening Financial Functions” <Summary> The FSA decided to subscribe for preferred equity investments in the Shinkumi Federation Bank (central body for Japan credit cooperatives) based on the capital injection scheme pursuant to the “Act on Special Measures for Strengthening Financial Functions.” The fund that is going to be invested in the Shinkumi Federation Bank will be put into member shinkumi banks for the purpose of enhancing their capital adequacy in response to their financial support requests to fully ensure smooth and stable financing for business enterprises in local regions. The original press release is available in Japanese. |
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Others
| February 21, 2024 | Updated list of entities that are operating financial instruments businesses without proper registration (The Kanto Local Finance Bureau and the Fukuoka Local Finance Branch Bureau) <Summary> The FSA, the Kanto Local Finance Bureau, and the Fukuoka Local Finance Branch Bureau issued warnings to entities that are operating financial instruments businesses without proper registration. (See the updated lists of  Japan-based entities and foreign-based entities ).These lists also include 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 original press release is available in Japanese. |
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| February 16, 2024 | Publication of the main issues raised by the FSA at opinion exchange meetings with relevant associations in the financial sector <Summary>
The FSA has published the main issues raised by the FSA at opinion exchange meetings* held with relevant associations in the financial sector in January 2024. (Available only in Japanese).
Common topics across the groups were:
- The plan for promoting Japan as a Leading Asset Management Center
- The enhancement of anti-phishing measures
- Japan Fintech Week 2024
- The FSA's FY 2022 request for tax revisions
- Dissemination and publicity concerning NISA
- The launch of Japan's Impact Consortium, and
- AML/CFT (Anti-Money Laundering and Combating the Financing of Terrorism) measures [including the enhancement of corporate public relations in terms of AML/CFT measures and the development of risk management systems].
* To enhance the transparency of its administration and to share its awareness of issues in the financial sector in a timely manner, every month the FSA publishes 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 2024, opinion exchange meetings were held respectively with the following six groups: major banks, etc.; the Regional Banks Association of Japan and the Second Association of Regional Banks; the National Association of Shinkin Banks; Trust Companies Association of Japan; the Japan Securities Dealers Association (JSDA); and the Investment Trusts Association, Japan.
The original press release is available in Japanese. |
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