Japan

Fraud, Scams & Cybercrime

Japan FSA Probes $60mn Hack at Crypto Exchange

By Manesh Samtani | 24/09/2018

About two-thirds of the stolen cryptocurrency belonged to customers of the exchange platform Zaif, which will receive a cash infusion from Fisco Digital Asset Group to help repay them.

Market Abuse

OSE, TSE Discipline MUFG Brokerage Unit for JGB Futures Manipulation

By Editors | 21/09/2018

Latest disciplinary action follows a FSA fine earlier this year, after a dealer manipulated the JGB futures market using the firm’s proprietary trading account.

Structural Regulation

CFTC Swaps Reform to Give Deference to Foreign Regulators

By Manesh Samtani | 12/09/2018

The CFTC’s approach to swaps regulation to date has been an over-expansive assertion of its jurisdiction, said its chairman Christopher Giancarlo in Japan this week.

Anti-Money Laundering

Japanese Banks in Process of Closing Yakuza-Related Bank Accounts

By Garima Chitkara | 06/09/2018

According to a survey of Japanese banks, around half the members are in the process of closing bank accounts belonging to gang members, with 1300 accounts closed as of May; 4300 such accounts still remain in the banking system.

Trading & Investment

Increased Use of Futures in Asset Management Could Adversely Impact Market – Kuroda

By Garima Chitkara | 05/09/2018

Increased use of futures in ETFs and investment trusts, while desirable to deepen futures market, has the potential to create correlation and contagion risks among asset classes where none existed before.

Emerging Prudential Risks

China, Japan Agree To Enhance Financial, Regulatory Cooperation

By Garima Chitkara | 03/09/2018

Central bank and finance ministry officials from China and Japan have agreed to increase dialogue and cooperation on financial supervisory and stability efforts, while opening up financial markets to each other.

Emerging Prudential Risks

Japan’s Regional Banks Told Not to Blame BOJ for Woes

By Manesh Samtani | 23/08/2018

FSA commissioner urges regional banks, whose profits are down 30% from 5 years ago, to explore ways to manage low interest environment, other than blaming monetary policy.

Structural Regulation

CFTC Grants Osaka Exchange FBOT Registration Status

By Editors | 23/08/2018

Osaka Exchange demonstrates the attributes of an established, organised exchange which is subject to continued oversight by regulators, the CFTC said.

Fraud, Scams & Cybercrime

Japan’s Suruga Bank Under Fire for Potentially Illegal Loans

By Manesh Samtani | 22/08/2018

Draft report by investigative panel says the bank’s management failed to take reasonable caution against lending malpractice involving the falsification of documents.