Financial Services Agency

Enforcement

Japan’s Suruga Bank Under Fire for Potentially Illegal Loans

By Manesh Samtani | 22/08/2018

Draft report by investigative panel says the bank’s management failed to take reasonable caution against lending malpractice involving the falsification of documents.

AML / KYC

Japanese Regional Banks to Set Up AML Information Sharing

By Manesh Samtani | 16/08/2018

An information sharing network between 64 regional banks aimed at AML/CFT efforts is part of a larger legal and regulatory push in the country against money laundering in preparation for an FATF inspection.

Crypto / Digital Assets

Cryptocurrency Framework Needs Update – Japan FSA

By Manesh Samtani | 16/08/2018

On-site inspections revealed a lack of internal controls, inadequate governance and poor business models at exchanges.

Crypto / Digital Assets

Japan FSA Reorganises to Meet Fintech Challenge

By Editors | 19/07/2018

Newly created Strategy Development and Management Bureau responsible for financial policy, fintech, cryptocurrencies, money laundering, as well as administraitive duties and inspections at financial institutions.

Crypto / Digital Assets

Bank-backed Crypto Exchange Opens to Retail Investors in Japan

By Garima Chitkara | 19/07/2018

Following limited launch by SBI Holdings in June, cryptocurrency exchange VCTRADE has now begun accepting retail investors; no applications allowed from corporate or institutional investors.

Enforcement

MUFG Brokerage Unit Primary Dealer Status Suspended

By Manesh Samtani | 17/07/2018

Dealer found to be manipulating prices in JGB futures trading, resulting in one-month suspension of the firm’s primary dealer status for one month.

Enforcement

Japan’s Higashi-Nippon Bank Under Fire for Lending Misconduct

By Manesh Samtani | 16/07/2018

The bank falsified customers’ financial records to boost loans, illicitly charged fees on loans in addition to interest, and used inappropriate financing methods involving over-lending to customers.

Market Infrastructure

Japan FSA Issues Revised Report on Supervisory Overhaul

By Manesh Samtani | 08/07/2018

Report was revised following consultation on proposed move to ‘dynamic supervision’ model; FSA says existing supervisory approaches deter focus from priority issues and may not prevent next crisis.

Fintech / Regtech

Japan’s Line Corp To Launch Crypto Exchange in Singapore

By Garima Chitkara | 02/07/2018

Cryptocurrency exchange will be launched outside Japan, with application with Japan FSA still pending; Line Corp looking to capitalise on user base for payments, transfers and asset management services.