Japan

Structural Regulation

CBIRC Approves First Fully Foreign Owned Money Broker

By Editors | 20/06/2021

Japan’s Ueda Yagi Tanshi will become the first foreign firm to commence currency brokerage business in China under a fully-owned unit.

Reporting & Disclosures

Japan: Revised Corporate Governance Code Takes Effect

By Manesh Samtani | 16/06/2021

The new code seeks to enhance board independence, promote board diversity, and increase attention on sustainability and ESG issues.

Conduct, Culture & Accountability

Japan FSA Considers Sanctioning Mizuho for System Glitches

By Ranamita Chakraborty | 15/06/2021

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

Fraud, Scams & Cybercrime

Japan FSA Orders Suspension of SBI Social Lending Unit

By Editors | 14/06/2021

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

Conduct, Culture & Accountability

Probe Finds Japan Officials, Toshiba Colluded Against Shareholders

By Editors | 13/06/2021

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

Anti-Money Laundering

Japan FSA Sets Hard Deadline for Full AML/CFT Compliance

By Editors | 07/06/2021

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

Structural Regulation

Japan to Remove Firewall Between Banking, Securities Operations

By Editors | 04/06/2021

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

Structural Regulation

Japan Considers Allowing SPAC Listings – Report

By Editors | 02/06/2021

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

Data Privacy

Japan to Require Disclosure of User Data Held Overseas

By Manesh Samtani | 29/05/2021

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