JAPAN

Capital / Liquidity

Japan FSA Approves Merger Between Two Regional Banks

By Thisanka Siripala | 26/09/2024

Fukui Bank and Fukuho Bank are being granted JPY 3 billion in financial assistance from the government to cover the merger costs.

Market Infrastructure

Japan to Launch Asset Management Forum on 3 October

By Manesh Samtani | 25/09/2024

Prime Minister Fumio Kishida said the Forum will be launched by leading Japanese and US asset management companies.

Enforcement

JSDA Fines MUFG Units for Sharing Client Information

By Editors | 23/09/2024

Mitsubishi UFJ Bank and two affiliated securities firms were fined for sharing non-public information without permission.

AML / KYC

Japanese Crime Bosses Had Singapore Connection – Report

By Nithya Subramanian | 23/09/2024

Three leaders of the Rivaton Group, which allegedly laundered funds for criminal groups, resided in and were directors of companies in Singapore.

ESG / Sustainability

Japan to Loosen Rules on Bank Investment in Green Projects

By Thisanka Siripala | 23/09/2024

Proposed draft legislation will ease restrictions on bank investments in Green Transformation (GX) related companies.

Market Infrastructure

US, Hong Kong Cut Rates for the First Time in Four Years

By Manesh Samtani | 19/09/2024

The last time the US Federal Reserve and HKMA lowered their benchmark interest rates was during the early days of the Covid-19 pandemic in 2020.

Japan FSA Calls on Banks to Improve Internal Audit Function

By Thisanka Siripala | 16/09/2024

Japanese FIs are directed to refer to the IIA’s Global Internal Audit Standards to enhance their internal audit functions, by 1 January 2025.

Fintech / Regtech

Japan to Develop Guidelines to Quantum Proof Financial Sector

By Thisanka Siripala | 13/09/2024

A set of guidelines will be prepared to assist FIs in preparing for a transition to post-quantum cryptography, drawing from NIST standards.

Fintech / Regtech

Japanese Megabanks to Stop Issuing Paper Bills and Cheques

By Thisanka Siripala | 13/09/2024

Sumitomo Mitsui will discontinue paper bills and cheques altogether in September 2025. MUFG and Mizuho Bank are expected to follow suit.