Financial Services Agency

Enforcement

Mizuho Bank Reports 9th System Failure for 2021

By Editors | 04/01/2022

The failure was attributable to an error in Mizuho’s system settings for transactions occurring at night and on holidays, impacting ATM and online banking operations.

Securities / Derivatives

JSDA to Propose Shorter Time-to-Market for Japan IPOs – Report

By Editors | 04/01/2022

The JSDA will propose that IPO subscriptions be allowed during book-building, rather than having investors wait until the offer price is determined.

Enforcement

Japan SESC Recommends Fine for Insider Trading on Crypto Hack

By Editors | 20/12/2021

An individual who learned about the July 2019 theft of cryptocurrency from BITPoint Japan sold shares in its parent before the hack was publicly disclosed.

AML / KYC

Japan FSA Seeks to Introduce Restrictions on Stablecoin Issuance

By Sanday Chongo Kabange | 09/12/2021

The FSA reportedly seeks to propose legislation to only allow banks and wire transfer companies to issue stablecoins, and to regulate wallet providers.

ESG / Sustainability

BOJ Outlines Three ‘Essential’ Elements of Climate Response

By Mark Johnston | 03/12/2021

BOJ governor Haruhiko Kuroda discussed scenario analysis, sustainable finance, and enhanced disclosures.

Enforcement

Japan FSA Orders Mizuho to Undergo Structural Reforms

By Editors | 29/11/2021

Mizuho is directed to formulate plans to improve its governance and prevent more system failures from occurring. Three top executives will resign.

ESG / Sustainability

Japan FSA Calls for Sharper Focus on ‘Transition’ Concept

By Mark Johnston | 29/11/2021

The FSA’s Satoshi Ikeda says corporate disclosures need to capture genuine progressive efforts towards achieving carbon net zero, not just point-in-time snapshots.

Fintech / Regtech

Japanese Banks, Companies to Test Run Digital Currency

By Manesh Samtani | 24/11/2021

A group of over 70 companies, banks, and organisations plans to bring a digital currency known as DCJPY into circulation in the second half of 2022.

Market Infrastructure

Japan Unveils Decisions on Treatment of Legacy LIBOR Contracts

By Manesh Samtani | 23/11/2021

Synthetic JPY LIBOR may be used if the contracting parties agree to do so, as well as in “exceptional cases” where it is difficult to proceed with negotiations.