FINANCIAL SERVICES AGENCY

    ESG / Sustainability

    BOJ, FSA Highlight Ongoing Initiatives to Address Climate Risk

    By Manesh Samtani | 31/03/2021

    Bank examinations will include assessments of efforts to address climate-related risks, and work is underway to identify possible approaches to climate-related scenario analysis.

    Securities / Derivatives

    Hedge Fund Collapse Sparks Billions in Losses for Banks

    By Manesh Samtani | 30/03/2021

    The SEC, FSA, and FINMA are monitoring the situation, after the collapse of Archegos Capital Management left Nomura and Credit Suisse with billions in losses.

    Fintech / Regtech

    Line Pay to Bring Data Stored Overseas Back to Japan

    By Sanday Chongo Kabange | 25/03/2021

    Line must submit detailed reports to Japanese authorities explaining how it protects personal data, after employees at a China affiliate were found to have access to user information.

    Enforcement

    Japan FSA to Inspect Mizuho Over System Failures

    By Ranamita Chakraborty | 24/03/2021

    The FSA will consider whether to take disciplinary action such as issuing a business improvement order against the bank.

    Market Infrastructure

    BOJ, FSA Urge FIs to Push Forward LIBOR Transition

    By Manesh Samtani | 09/03/2021

    The regulators say the transition must continue without reliance on a potential synthetic JPY LIBOR, which would be restricted to tough legacy contracts even if published.

    Securities / Derivatives

    OSE, TOCOM Propose Revised Contingency Plans for Derivatives

    By Sanday Chongo Kabange | 09/03/2021

    The OSE and TOCOM have proposed revisions clarifying the standards by which they will halt and resume trading in the event of a disruption in the derivatives market.

    Capital / Liquidity

    Japan, EU Boost Cooperation on Insurance Supervision

    By Ranamita Chakraborty | 06/03/2021

    EIOPA will provide the FSA advice on an equivalence decision under the EU’s Solvency II framework and, later, the monitoring of this decision.

    Market Infrastructure

    Japan Close to Decision on Lower Interbank Transfer Fees

    By Editors | 06/03/2021

    Interbank transfer fees have remained the same for over 40 years. A reduction in interbank EFT fees may be implemented as soon as October.

    ESG / Sustainability

    Japan FSA To Review ESG Fund Labelling Rules

    By Sanday Chongo Kabange | 04/03/2021

    Discussions with asset managers and fund distributors may start by June to assess whether rules for mutual fund labels can guard against greenwashing.

    Market Infrastructure

    Japan’s Mizuho Bank Suffers Another Outage at ATMs

    By Editors | 04/03/2021

    Another system failure took down 29 Mizuho ATMs for three hours on Wednesday, just days after more than 5,000 ATMs went offline.

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