JAPAN

Market Infrastructure

New Data Protection Requirements Enter into Force in Japan

By Manesh Samtani | 03/04/2022

Japan’s revised law on the protection of personal data raises penalties for non-compliance, tightens breach reporting requirements, and gives data subjects additional rights.

Market Infrastructure

Japan, EU Enhance Framework on Regulatory Cooperation

By Mark Johnston | 02/04/2022

The adoption of the regulatory cooperation framework follows the signing of an amended MoC by Japan’s FSA and ESMA.

Market Infrastructure

BOJ Defends Yield Target With ‘Unlimited’ Bond Buying

By Editors | 29/03/2022

The BOJ is buying Japanese government bonds every day this week until Thursday to keep yields low as it diverges from the US path.

Fintech / Regtech

Bank of Japan Concludes Phase One CBDC Testing

By Editors | 28/03/2022

Phase one testing explored the feasibility of CBDC issuance, distribution and redemption. Phase two will test additional functions starting next month.

Securities / Derivatives

Egypt Becomes First Middle East Nation to Issue Samurai Bonds

By Editors | 27/03/2022

Egypt has become the first country in the Middle East to issue samurai bonds in the Japanese market.

Enforcement

Tokyo Prosecutors Indict SMBC Nikko Securities, Five Others

By Editors | 24/03/2022

Prosecutors have filed charges against SMBC Nikko Securities and five others. The head of the firm’s equity division was also arrested.

Fintech / Regtech

Japan FSA Progresses Work on AI-based Translation System

By Editors | 19/03/2022

Translated financial documents were used as training data for the AI system, helping to improve the efficiency and accuracy of translations between Japanese and English.

AML / KYC

Japan Crypto Exchanges Ordered to Comply with Sanctions

By Editors | 17/03/2022

Fines up to JPY 1 million and up to three years’ imprisonment are specified for non-compliance with sanctions by crypto exchange platforms.

Capital / Liquidity

Japan to Further Delay Implementation of Basel III – Report

By Editors | 17/03/2022

Basel III implementation will be delayed until March 2024, due to the pandemic and the financial market turmoil caused by Russia’s invasion of Ukraine.