FINANCIAL SERVICES AGENCY

Market Infrastructure

Japan Regulators Seek Data on Financial Firms’ Risky Investments

By Editors | 10/09/2019

The BOJ and FSA are collecting data on financial firms’ holdings of collateralised loan obligations and leveraged loans to understand the risks they present.

Market Infrastructure

Japan FSA to Revise Standards For Auditors of Listed Companies

By Editors | 05/09/2019

The revised standards will require auditors to disclose the reasons for issuing a qualified opinion in financial statements starting from March 2020.

Enforcement

Tokyo Bourse Penalises Nomura for Information Leak

By Editors | 30/08/2019

The TSE says internal controls at Nomura Securities were insufficient, and measures it took after a similar incident in 2012 did not seem to have improved compliance.

Capital / Liquidity

Japan FSA Plans New Measures to Ensure Regional Bank Sustainability

By Editors | 29/08/2019

To encourage consolidation among struggling regional lenders, the FSA may lower deposit insurance fees paid by banks that are more financially robust.

Crypto / Digital Assets

Japanese Crypto Exchange Operator to Close Shop

By Editors | 24/08/2019

Tech Bureau Corp – the ex-operator of hacked exchange Zaif – will become the first FSA-registered crypto exchange operator to shut down its operations.

Enforcement

Japan Post to Check 30mn Contracts in Insurance Mis-selling Probe

By Editors | 02/08/2019

Up to 183,000 Japan Post customers have been affected by unlawful insurance sales practices over the past five years, double the amount initially found.

Crypto / Digital Assets

UPDATED – Bitpoint Japan Loses $28m in Crypto in Hot Wallet Hack

By Editors | 15/07/2019

The majority of the stolen funds belonged to clients and were held in hot wallets. Crypto exchanges in Japan are required to hold client assets offline in segregated cold wallets.

Market Infrastructure

Japan FSA, CFTC Agree to Mutually Recognise Derivatives Platforms

By Editors | 15/07/2019

Certain FSA-regulated derivatives trading platforms will be exempt from the requirement to register with the CFTC, and the FSA will facilitate authorisation for CFTC-regulated platforms.

Enforcement

UPDATED – Japan Post Vows to Compensate Customers for Mis-sold Insurance

By Editors | 11/07/2019

Some 93,000 cases were found where customers were left uninsured due to inappropriate sales tactics, paid double premiums, or were denied coverage for paid up insurance policies.