FINANCIAL SERVICES AGENCY

    Market Infrastructure

    Japan to Finalise New Derivatives Reporting Regime Soon

    By Manesh Samtani | 17/06/2022

    The new regime will increase the reportable data elements, the number of reporting entities, and make event-based reporting to a trade repository mandatory.

    Market Infrastructure

    Japanese Tax System Derailing Tokyo Hub Ambitions: Report

    By Sanday Chongo Kabange | 16/06/2022

    The plan to reform the tax system to attract hedge funds to Tokyo has resulted in “preferential treatment no one would use.”

    ESG / Sustainability

    UK, Japan Formalise Arrangements on Regulatory Cooperation

    By Editors | 13/06/2022

    UK and Japan participants agreed to establish an innovation working group to provide a space for collaboration on payments, cryptoassets and financial innovation.

    AML / KYC

    Japan Ministry Seeks Powers to Confiscate Crypto Assets

    By Editors | 12/06/2022

    Japan’s organised crime law currently only allows seizures of real property, movable assets and monetary claims, but not crypto assets.

    Market Infrastructure

    Japan FSA Calls on Market to Complete LIBOR Transition Efforts

    By Manesh Samtani | 09/06/2022

    Only a small number of JPY LIBOR contracts remain that still need to complete the transition, but USD LIBOR rates are “still widely used” by Japanese FIs and corporates.

    Fintech / Regtech

    OJK Indonesia to Enhance Regulatory Cooperation with APRA, FSA

    By Editors | 08/06/2022

    The APRA MoU is focused on banking and insurance supervision. The FSA agreement focuses on digital innovation in the financial services sector.

    Crypto / Digital Assets

    Japan Approves Law Clarifying Legal Status of Stablecoins

    By Manesh Samtani | 05/06/2022

    Under the revision bill, only licensed banks, trust companies, and registered money transfer agents will be able to issue stablecoins.

    ESG / Sustainability

    Japan FSA Drafts Indicators to Assess Social Projects

    By Editors | 02/06/2022

    A draft set of indicators have been published which issuers can use to help them assess the social impacts of projects financed with social bonds.

    Fintech / Regtech

    Sumitomo Mitsui Trust to Establish Crypto Custody Company

    By Sanday Chongo Kabange | 25/05/2022

    The new company will be a joint venture between Japanese crypto exchange Bitbank and hold digital assets for institutional investors.

    Market Infrastructure

    Japan FSA Proposes Revisions to Derivatives Reporting Rules

    By Manesh Samtani | 19/05/2022

    The FSA is looking to implement the data requirements specified by CPMI-IOSCO’s CDE Technical Guidance “as much as possible”.

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