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Enforcement
Japan FSA to Inspect Mizuho Over System Failures
By Ranamita Chakraborty | 24/03/2021
The FSA will consider whether to take disciplinary action such as issuing a business improvement order against the bank.
Market Infrastructure
BOJ, FSA Urge FIs to Push Forward LIBOR Transition
By Manesh Samtani | 09/03/2021
The regulators say the transition must continue without reliance on a potential synthetic JPY LIBOR, which would be restricted to tough legacy contracts even if published.
Securities / Derivatives
OSE, TOCOM Propose Revised Contingency Plans for Derivatives
By Sanday Chongo Kabange | 09/03/2021
The OSE and TOCOM have proposed revisions clarifying the standards by which they will halt and resume trading in the event of a disruption in the derivatives market.
Capital / Liquidity
Japan, EU Boost Cooperation on Insurance Supervision
By Ranamita Chakraborty | 06/03/2021
EIOPA will provide the FSA advice on an equivalence decision under the EU’s Solvency II framework and, later, the monitoring of this decision.
Market Infrastructure
Japan Close to Decision on Lower Interbank Transfer Fees
By Editors | 06/03/2021
Interbank transfer fees have remained the same for over 40 years. A reduction in interbank EFT fees may be implemented as soon as October.
ESG / Sustainability
Japan FSA To Review ESG Fund Labelling Rules
By Sanday Chongo Kabange | 04/03/2021
Discussions with asset managers and fund distributors may start by June to assess whether rules for mutual fund labels can guard against greenwashing.
Market Infrastructure
Japan’s Mizuho Bank Suffers Another Outage at ATMs
By Editors | 04/03/2021
Another system failure took down 29 Mizuho ATMs for three hours on Wednesday, just days after more than 5,000 ATMs went offline.
ESG / Sustainability
BOJ, FSA to Analysis Climate Impacts on Banks This Year
By Editors | 02/03/2021
The BOJ will reportedly work with the FSA to analyse the impact of climate risks on banks in this year’s examinations.
Market Infrastructure
FSA to Seek Report from Mizuho Over ATM Network Shutdown
By Editors | 02/03/2021
A system glitch caused the shutdown of over half of Mizuho’s ATMs on Sunday, with internet banking transactions also partially halted.
AML / KYC
Japan FSA to Roll Out New AML System in Fiscal 2021
By Editors | 12/02/2021
The FSA will share access to the new system, which will use AI to monitor for unusual transactions and persons suspected of illegal activity.
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