FINANCIAL SERVICES AGENCY

Big Picture

Japan’s Market and Corporate Reforms – New Dawn or Déjà Vu?

By Gavin Blair | 05/03/2024

Reforms to boost the capital market and asset management sector are driving optimism in Japan.

ESG / Sustainability

Japan to Require Emissions Disclosures from Top-tier Firms

By Editors | 05/03/2024

The FSA is expected to release draft standards by end-March proposing requirements for Prime Market companies to disclose supply chain emissions data.

Enforcement

Japan: Major Insurers Commit to Divesting Cross-Held Shares

By Editors | 03/03/2024

The insurers also imposed disciplinary measures against 132 executives and employees, including pay cuts, over a price-fixing scandal.

Enforcement

SG Firm Allegedly Swindled JPY 135 Billion in Japan’s Largest Scam

By Nithya Subramanian | 01/03/2024

Sky Premium International has been accused of involvement in foreign exchange margin trading, labeled as an illegitimate “pyramid scheme”, wooing investors through a network of 570 salespeople.

Crypto / Digital Assets

HK-based Crypto Firm BitForex Disappears With User Funds

By Mark Johnston | 27/02/2024

$56mn in crypto was removed from the exchange before it stopped processing transactions and responding to user queries.

Capital / Liquidity

CFTC Grants TAIFEX Exemption to Clear Swaps for US Participants

By Manesh Samtani | 26/02/2024

TAIFEX has relied on temporary no-action relief since September 2022. ‘Exempt DCO’ status gives it a lasting right to clear OTC derivatives for US participants.

Securities / Derivatives

Japan to Allow Mutual Funds to Invest in Unlisted Shares

By Mark Johnston | 19/02/2024

The move will allow retail investors to buy into early stage startups, which will also gain access to more funding prior to an IPO.

Enforcement

Major Japan Insurers Directed to Divest ‘Strategic Shareholdings’

By Editors | 14/02/2024

The FSA suspects that the competitive environment may have been distorted by the practice of insurers’ holding shares in client companies.

Enforcement

Japan FSA Issues Orders to Insurance Major Over Fraud Scandal

By Editors | 29/01/2024

Sompo Japan Insurance is required to draw up an improvement plan including steps to change its corporate culture, enhance customer protection, and improve governance.