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Market Infrastructure
Japan FSA Considers Sanctioning Mizuho for System Glitches
By Ranamita Chakraborty | 15/06/2021
A new report from a third-party committee has attributed the bank’s system failures to poor corporate culture within Mizuho Financial Group.
Enforcement
Japan FSA Orders Suspension of SBI Social Lending Unit
By Editors | 14/06/2021
SBI Social Lending Co solicited funds from investors with false or misleading information in lending agreements.
Securities / Derivatives
Probe Finds Japan Officials, Toshiba Colluded Against Shareholders
By Editors | 13/06/2021
Foreign investors including Effissimo, Harvard Management Company and 3D Investment Partners were pressured to change their voting.
AML / KYC
Japan FSA Sets Hard Deadline for Full AML/CFT Compliance
By Editors | 07/06/2021
The FSA has directed FIs to formulate a plan that ensures full compliance with its AML/CFT guidelines by March 2024.
Market Infrastructure
Japan to Remove Firewall Between Banking, Securities Operations
By Editors | 04/06/2021
The FSA is reportedly working on rule changes that would allow banks and securities firms within the same group to share customer data.
Securities / Derivatives
Japan Considers Allowing SPAC Listings – Report
By Editors | 02/06/2021
Japan may allow SPAC listings on its markets as part of its growth strategy as early as next year.
Market Infrastructure
Japan to Require Disclosure of User Data Held Overseas
By Manesh Samtani | 29/05/2021
Companies will reportedly also have to disclose how data management rules in foreign countries differ from those in Japan.
Japan FSA Releases Guidelines on Climate Transition Finance
By Editors | 25/05/2021
The guidelines incorporate the recommendations on disclosures from the ICMA Climate Transition Finance Handbook, which was published in December.
Enforcement
Japan Post Bank Misplaces Customer Transaction Data
By Editors | 25/05/2021
The missing records include information such as clients’ names and bank account numbers, which are supposed to be retained for 10 years.
Market Infrastructure
Japanese FIs Still Have $24tr in LIBOR Exposures – Report
By Editors | 20/05/2021
The December 2020 figure is down only slightly from the $27.5tr of contracts referencing LIBOR 18 months earlier at the end of June 2019.
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