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ESG / Sustainability
Japan to Revise Stewardship Code to Include ESG Factors
By Editors | 12/12/2019
The proposed revisions could be adopted as early as March, increasing the focus on ESG factors for institutional investors in Japan.
Enforcement
Japan SESC Recommends $22mn Fine for Nissan Underreporting
By Editors | 11/12/2019
The fine would be Japan’s second-largest ever for false reporting on a corporate financial statement, after the 7.3 billion yen fine imposed on Toshiba in 2015.
Enforcement
Nomura Releases New Code of Conduct for Employees
By Editors | 05/12/2019
Nomura Holdings has released a 19-point code of conduct for its employees following information leaks that subjected the firm to regulatory action.
Market Infrastructure
Japan Set to Consult on Reorganisation of TSE Boards
By Editors | 02/12/2019
The TSE will consult on the criteria for companies to move to the First Section, and measures to enhance the independence of listed subsidiaries from their parent companies.
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.
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