FINANCIAL SERVICES AGENCY

Enforcement

Japan FSA Orders Mizuho to Undergo Structural Reforms

By Editors | 29/11/2021

Mizuho is directed to formulate plans to improve its governance and prevent more system failures from occurring. Three top executives will resign.

ESG / Sustainability

Japan FSA Calls for Sharper Focus on ‘Transition’ Concept

By Mark Johnston | 29/11/2021

The FSA’s Satoshi Ikeda says corporate disclosures need to capture genuine progressive efforts towards achieving carbon net zero, not just point-in-time snapshots.

Fintech / Regtech

Japanese Banks, Companies to Test Run Digital Currency

By Manesh Samtani | 24/11/2021

A group of over 70 companies, banks, and organisations plans to bring a digital currency known as DCJPY into circulation in the second half of 2022.

Market Infrastructure

Japan Unveils Decisions on Treatment of Legacy LIBOR Contracts

By Manesh Samtani | 23/11/2021

Synthetic JPY LIBOR may be used if the contracting parties agree to do so, as well as in “exceptional cases” where it is difficult to proceed with negotiations.

Fintech / Regtech

Japan FSA Publishes Principles for Model Risk Management

By Manesh Samtani | 22/11/2021

The FSA published the principles to catalyse further development of model risk management practices in the industry and prevent risk.

Enforcement

Japan FSA to Issue New Orders to Mizuho Over System Glitches

By Editors | 21/11/2021

The FSA will issue a new business improvement order this month over Mizuho’s system glitches, one of which resulted in possible breaches of AML rules.

Fintech / Regtech

Japanese Investors to Gain Access to Digital Securities via ADDX

By Editors | 14/11/2021

Through securities broker Tokai Tokyo, ADDX (formerly iSTOX) will offer Japanese investors access to tradeable security tokens backed by real estate and other assets.

ESG / Sustainability

Japan FSA Reaffirms Commitment to Sustainable Finance Strategy

By Sanday Chongo Kabange | 09/11/2021

The strategy highlights efforts to enhance disclosures, develop green bond markets, and ensure FIs manage climate risk and support borrowers.

Capital / Liquidity

Japan FSA Proposes Revisions to Leverage Ratio Requirements

By Editors | 07/11/2021

For internationally-active banks, the new leverage ratio requirements will commence from 31 March 2023 and for other banks one year later.