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FSA Weekly Review No.587 - May 23, 2024
What’s New on the FSA Website
Week of May 10, 2024 - May 16, 2024
This page contains the latest in events, developments, and updates to the FSA website.
Press Releases
Councils
| May 13, 2024 | Publication of the agenda and handouts of the second meeting of the "Working Group on Sustainability Disclosure (Reporting) and Assurance" (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 Sustainability Disclosure (Reporting) and Assurance" (provisional English title) of the Financial System Council, which was held on May 14, 2024. In the second meeting, the secretariat (i.e. the FSA) gave a briefing on the desirable state of the sustainability disclosure standards, and the scope and timing of application of those standards, followed by a discussion among the Working Group members. The original press release is available in Japanese.  |
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Banks
| May 14, 2024 | Authorization granted to JAPAN POST BANK Co., Ltd. for a subsidiary ownership <Summary> The FSA and Ministry of Internal Affairs and Communications (MIC) jointly granted authorization for the subsidiary ownership application filed by JAPAN POST BANK Co., Ltd. pursuant to the "Postal Service Privatization Act" (Law No. 97 of 2005). The original press release is available in Japanese. |
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Securities
| May 16, 2024 | Administrative monetary penalty against SAKAI Holdings CO., LTD. for making false statements in its securities reports and so forth <Summary> On May 15, 2024, the FSA issued an order to impose an administrative monetary penalty against SAKAI Holdings CO., LTD. for making false statements in its securities reports and so forth, in violation of the "Financial Instruments and Exchange Act." The original press release is available in Japanese. |
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| May 14, 2024 | Administrative action against Ava Trade Japan K.K. <Summary> The Kanto Local Finance Bureau took administrative action against Ava Trade Japan K.K., a Type I financial instruments business operator, ordering the improvement of its business operations pursuant to the "Financial Instruments and Exchange Act" (FIEA). The administrative action was taken in response to the recommendation (as of April 23, 2023) from the Securities and Exchange Surveillance Commission (SESC) for administrative action against the said entity, which was ascertained to have been acting in violation of the FIEA mainly in terms of using falsified data in stress-testing, based on the results of onsite inspection conducted by the SESC. The business improvement order against the entity includes the following: - to clarify where responsibility lies pertaining to the ascertained issues - to fundamentally review its regulatory compliance system, and enhance its business management structure, internal control system and internal audit system - to develop a structure with its parent company in preparation for the need to ensure sound business management in the future, and - to report in writing, etc. by June 13, 2024, on the status of the above measures and implementation, and thereafter report in writing, etc. as necessary until all of them are completed. The original press release is available in Japanese. |
Others
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