FINANCIAL SERVICES AGENCY

Market Infrastructure

Japan FSA Reviews Proposal to Reorganise Tokyo Bourse

By Editors | 22/11/2019

The proposal would recast the TSE’s existing boards into a “prime” market for blue chips, a “standard” market for mid-tier companies and a “growth” board for startups.

Capital / Liquidity

Japan Banks to Gain Easier Access to Capital from Larger Peers

By Editors | 05/11/2019

Under a special measure to be launched in March, a bank’s capital-to-asset ratio will not be reduced when it invests in a struggling peer.

AML / KYC

FATF Begins Assessment of Japan’s AML Regime

By Editors | 30/10/2019

For the first time, cryptocurrency exchanges will also subject to the review, the first assessment of Japan’s AML system in 11 years.

Capital / Liquidity

Recession Fears Prompt Japan to Stress Test Major Financial Firms

By Editors | 22/10/2019

The BOJ and FSA will jointly coordinate stress tests on Japan’s three G-SIBs and four D-SIBs to assess how capital and liquidity could be affected if stocks fell and the yen spiked.

Capital / Liquidity

Japan, EU to Cooperate on Cross-border Resolution Planning

By Editors | 17/10/2019

Through an exchange of letters, Japan’s FSA and the EU’s SRB have agreed to cooperate to plan for and conduct orderly cross-border resolutions of banks.

Market Infrastructure

Japan Hosts First-ever TCFD Summit

By Editors | 09/10/2019

Speaking at the Summit, BOE governor Mark Carney lauded Japan’s support for the TCFD, but said more needs to be done globally to enhance climate-related financial disclosures.

Fintech / Regtech

Japan Brokers Form New Body to Develop Rules for STOs

By Editors | 07/10/2019

The new association was formed by securities firms SBI, Nomura, Daiwa, Kabu.com, Monex and Rakuten and will seek FSA approval for status as a self-regulatory organisation.

Enforcement

US SEC Settles Charges Against Nissan, Former CEO

By Editors | 24/09/2019

As settlement for underreporting CEO compensation, Nissan agreed to pay $15mn, while ex-CEO Carlos Ghosn will pay $1mn and get a 10-year officer and director bar.

Market Infrastructure

ISDA Issues Guidance on Executing Trades on Recognised Venues

By Editors | 23/09/2019

The guides describe how cross-border trading will work following the CFTC-MAS, CFTC-FSA and EC-MAS agreements on mutual recognition of derivatives trading venues.