JAPAN

Market Infrastructure

Japan Unveils Final Report on Proposed TSE Reorganisation

By Editors | 28/12/2019

The transition to three market sections is expected to be completed within H1 2022, but the changes will be implemented gradually in phases to mitigate the impact on listed companies.

AML / KYC

BOJ Releases Summary Report on CBDC Legal Issues

By Editors | 27/12/2019

In light of the potential legal issues that may arise from a CBDC issuance by the Bank of Japan, more detailed discussion is needed.

Securities / Derivatives

Japan Solicits Feedback on Revised Stewardship Code

By Editors | 24/12/2019

The changes add expectations that sustainability issues will be considered in the investment process, and introduce expectations for service providers.

Securities / Derivatives

UPDATED – BOJ to Boost ETF Market Liquidity by Lending Holdings

By Editors | 20/12/2019

The ETF lending facility is likely to reduce ETF bid/ask spreads and provide an easy way to short the Japanese market.

AML / KYC

Japan Identifies 1.9m Undeclared Offshore Accounts Through CRS

By Editors | 17/12/2019

Of the 1.89 million offshore accounts identified through information exchanges under the Common Reporting Standard, 80% were located in Asia and Oceania.

ESG / Sustainability

Japan to Revise Stewardship Code to Include ESG Factors

By Editors | 12/12/2019

The proposed revisions could be adopted as early as March, increasing the focus on ESG factors for institutional investors in Japan.

AML / KYC

Japan Banks to Join JPM Blockchain Initative to Boost AML Measures

By Editors | 11/12/2019

Japanese banks are looking to use JP Morgan’s Interbank Information Network to bolster AML measures because it makes screening of cash recipients faster and more efficient.

Enforcement

Japan SESC Recommends $22mn Fine for Nissan Underreporting

By Editors | 11/12/2019

The fine would be Japan’s second-largest ever for false reporting on a corporate financial statement, after the 7.3 billion yen fine imposed on Toshiba in 2015.

Market Infrastructure

Data Privacy in Asia Pacific: A Fragmented Landscape

By Sarah Pearce | 10/12/2019

Asia’s data privacy frameworks remain highly fragmented. But companies cannot be complacent about more onerous laws in other jurisdictions, says Sarah Pearce at international law firm Paul Hastings.