JAPAN

Market Infrastructure

Japan FSA Issues Proposal to Tighten Regional Bank Oversight

By Editors | 04/04/2019

The FSA will stress tests regional banks and force weaker lenders to take action to improve profitability, replace their management, or merge.

Market Infrastructure

JPX, TOCOM Enter Basic Agreement to Merge by October

By Editors | 29/03/2019

TOCOM will become a wholly-owned subsidiary of JPX, and together they will launch a consolidated exchange for stocks, financial and commodity derivatives by September 2020.

Enforcement

Citigroup Faces $1.2m Fine in Japan over Alleged JGB Manipulation

By Editors | 27/03/2019

Citigroup’s London office allegedly placed large orders in the 10-year JGB futures market outside of Japanese trading hours that were not executed, but may have mislead investors.

Market Infrastructure

CFTC Expands Margin Comparability Determination for Japan

By Editors | 27/03/2019

The amended determination for Japan finds comparability regarding the scope of entities subject to the margin requirements, and the treatment of margining for inter-affiliate transactions.

Securities / Derivatives

JPX-TOCOM Merger Agreement Expected by End-March

By Editors | 22/03/2019

JPX and TOCOM plan to merge this year to create an all-in-one bourse that handles both stocks and commodity futures, but challenges will remain even after a final agreement is reached.

Capital / Liquidity

Poorly Performing Japanese Banks to Face Added FSA Pressure

By Editors | 20/03/2019

The FSA plans to stress test Japanese regional banks by mid-year and issue business improvement orders and possible restrictions on poorly performing banks.

Crypto / Digital Assets

Japan to Impose Margin Trading Limits in Cryptocurrency Sector

By Editors | 20/03/2019

New rules will limit cryptocurrency margin trading to two-to-four times initial deposits and require exchanges offering margin facilities to register separately with government.

Market Infrastructure

Tokyo Bourse to Cut a Third of Companies from First Section

By Editors | 18/03/2019

The Tokyo Stock Exchange plans to raise the minimum market cap for companies to maintain a listing on its First Section and require English language quarterly earnings disclosures.

Market Infrastructure

Japan FSA Official Lays Out G20 Financial Sector Agenda

By Editors | 07/03/2019

Under Japan’s Presidency this year, the G20 financial sector agenda will centre on addressing market fragmentation, technological innovation and the problems of aging societies.