FINANCIAL SERVICES AGENCY

AML / KYC

Japan to Adopt Travel Rule in Crypto in May 2023 – Report

By Editors | 29/09/2022

The FSA plans to submit amendments to the Act on Prevention of Transfer of Criminal Proceeds to a parliamentary session next week.

Securities / Derivatives

Japan to Probe Retail Sales of Structured Products by Banks

By Editors | 22/09/2022

The FSA says many customers who were not sufficiently informed about the products they were buying have complained of “unexpected losses”.

Market Infrastructure

Japan FSA Proposes New Derivatives Reporting Guidance

By Editors | 14/09/2022

The draft guidelines explain the data fields that need to be included in reporting, along with technical specifications and best practices for reporting.

AML / KYC

Japan Regulator Orders Revolut to Improve AML Controls

By Editors | 06/09/2022

Revolut is required to submit a business improvement plan by 3 October and file quarterly progress reports until implementation is complete.

Securities / Derivatives

Japan FSA Consults on Documentary Requirements for Foreign Entry

By Editors | 06/09/2022

The amendment will allow applicants who meet certain conditions to submit written applications for registration and other subsequent documents in English.

Securities / Derivatives

Japan FSA Seeks to Make NISA Programme Permanent

By Editors | 31/08/2022

NISA is a programme for small investments that offers time-based exemptions from capital gains and dividend tax.

Crypto / Digital Assets

Japan Considers Relaxation of Crypto Taxation Policies

By Editors | 30/08/2022

Authorities are considering a system under which crypto asset issuers would only be taxed when profits are generated, and not based on unrealised gains.

ESG / Sustainability

Japan Publishes Results of Climate Scenario Analysis Exercise

By Editors | 29/08/2022

The results highlight a need for banks to use common assumptions within their models, refine their analysis of individual companies, and enhance their methodologies.

Crypto / Digital Assets

Japanese Crypto Industry Bodies Call for Tax Reforms

By Editors | 11/08/2022

The JCBA and JVCEA are asking for income from crypto-asset transactions to be taxed separately at a rate of 20 percent, rather than together with other income.