Japanese banks are looking to use JP Morgan's Interbank Information Network to bolster AML measures because it makes screening of cash recipients faster and more efficient.
The fine would be Japan’s second-largest ever for false reporting on a corporate financial statement, after the 7.3 billion yen fine imposed on Toshiba in 2015.
Asia's data privacy frameworks remain highly fragmented. But companies cannot be complacent about more onerous laws in other jurisdictions, says Sarah Pearce at international law firm Paul Hastings.
Japan's antitrust agency is looking into how banks decide fees for using the national interbank funds transfer system and whether they present an entry barrier for fintechs.
Japan and Indonesia have agreed on a local currency settlement deal that will allow the use of the yen and rupiah to settle bilateral trade and direct investment transactions.
Nomura Holdings has released a 19-point code of conduct for its employees following information leaks that subjected the firm to regulatory action.
Japan’s Government Pension Investment Fund, the world’s largest, said it will no longer allow overseas shares to be lent out from its global equity portfolio.
The TSE will consult on the criteria for companies to move to the First Section, and measures to enhance the independence of listed subsidiaries from their parent companies.
The bank is disputing the penalty, saying its Caymans subsidiaries were created for as a special vehicle for fundraising, and not to conceal profits or evade taxes.
The proposal would recast the TSE’s existing boards into a "prime" market for blue chips, a "standard" market for mid-tier companies and a "growth" board for startups.