Financial Services Agency

Capital / Liquidity

Japan FSA Consults on Amendments to Bank Capital Rules

By Thisanka Siripala | 24/01/2025

The amendments adopt the July 2024 revisions to the IRRBB standard and revise the transitional provisions for FRTB’s Profit and Loss Attribution test.

Enforcement

Japan FSA Suspends Audit Firm for Six Months for Misconduct

By Thisanka Siripala | 22/01/2025

The FSA said Aska Audit Corporation had weak audit quality controls, fabricated audit records and that its leadership lacked professional ethics

Enforcement

Mizuho Stops Accepting New Safe Deposit Box Customers

By Thisanka Siripala | 22/01/2025

The decision comes after an MUFG employee was arrested for stealing customers’ assets, putting the industry under heightened scrutiny

AML / KYC

Japan FSA Offers Guidance on Validating AML Effectiveness

By Thisanka Siripala | 22/01/2025

New discussion paper emphasises the importance of continuous validation to ensure AML/CFT measures remain effective against evolving risks

Enforcement

Former MUFG Bank Manager Arrested for Safe Deposit Box Thefts

By Thisanka Siripala | 18/01/2025

The former employee has reportedly admitted to the thefts, citing significant financial losses from FX trading and horse racing bets as her motive.

Fintech / Regtech

JSCC to Adopt Standardised Framework for Regulatory Reporting

By Thisanka Siripala | 17/01/2025

JSCC will start using ISDA’s Digital Regulatory Reporting for reporting to the FSA and CFTC starting in June.

Big Picture

Transition Plans Could Enhance Financial Stability Monitoring: FSB

By Mark Johnston | 16/01/2025

FSB says climate transition plans could be useful for monitoring financial stability risks but more standardisation and broader adoption are needed first

AML / KYC

AEON Bank President & Risk Head Dismissed Over AML Failures

By Thisanka Siripala | 15/01/2025

The president of AEON Financial Services also resigned after the banking subsidiary was ordered to correct serious AML deficiencies

Big Picture

Japan FSA Publishes Analysis of August 2024 Stock Crash

By Thisanka Siripala | 13/01/2025

The FSA said the crash was caused by several factors, including a thinning of the order book and a decline in algorithm-driven liquidity provision