Japan

A new report from a third-party committee has attributed the bank's system failures to poor corporate culture within Mizuho Financial Group.

SBI Social Lending Co solicited funds from investors with false or misleading information in lending agreements.

Foreign investors including Effissimo, Harvard Management Company and 3D Investment Partners were pressured to change their voting.

The FSA has directed FIs to formulate a plan that ensures full compliance with its AML/CFT guidelines by March 2024.

The FSA is reportedly working on rule changes that would allow banks and securities firms within the same group to share customer data.

Japan may allow SPAC listings on its markets as part of its growth strategy as early as next year.

Companies will reportedly also have to disclose how data management rules in foreign countries differ from those in Japan.

The guidelines incorporate the recommendations on disclosures from the ICMA Climate Transition Finance Handbook, which was published in December.

The missing records include information such as clients' names and bank account numbers, which are supposed to be retained for 10 years.

The December 2020 figure is down only slightly from the $27.5tr of contracts referencing LIBOR 18 months earlier at the end of June 2019.