Financial Services Agency

Fraud, Scams & Cybercrime

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.

Custody & Infrastructure

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.

Structural Regulation

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.

Conduct, Culture & Accountability

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.

Liquidity Risk

Japan Opposes LCR for US Branches of Foreign Banks

By Manesh Samtani | 26/06/2019

The BOJ, FSA and JBA say standardised liquidity requirements for US branches of foreign banking organisations will promote market fragmentation and create global risks.

Emerging Prudential Risks

Japan Delays Pension Reform Amid Political Fallout

By Editors | 13/06/2019

An FSA report which highlighted the insufficiency of Japan’s pension system has been withdrawn by the government ahead of a national election.

Market Abuse

UPDATED – Citigroup Japan Fined, Ordered to Improve Internal Controls

By Editors | 10/06/2019

Having failed to detect after hours spoofing by a London trader, Citigroup Global Markets Japan has been fined, ordered to improve its controls, and suspended from participating in JGB auctions.

Market Abuse

Japan FSA Takes Action Against Nomura Over Information Leak

By Editors | 29/05/2019

The FSA has issued a number of business improvement orders to Nomura after it was revealed that its employees had shared sensitive stock market information with clients.

Anti-Money Laundering

Japan FSA Orders Seibu Shinkin Bank to Improve Loan Screening

By Editors | 27/05/2019

The bank reportedly extended loans to persons connected to ‘antisocial forces’, and potentially executed over 100 fraudulent real estate loans.