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Japan
Japan FSA Directs Banks to Further Improve Internal Audit Function
By Editors | 29/10/2023
The sophistication of internal audits differs across banks, largely due to the degree of involvement by management, the FSA says.
AML / KYC
FATF Upgrades Japan Ratings on Five Recommendations
By Manesh Samtani | 24/10/2023
Japan was re-rated from partially compliant to largely compliant on four recommendations and from non compliant to partially compliant on one recommendation.
Enforcement
Japan FSA Orders Report Explaining Zengin-Net Outage
By Sanday Chongo Kabange | 18/10/2023
Zengin-Net has to produce a report explaining last week’s outage and measures taken to prevent a recurrence.
Securities / Derivatives
DSB Launches UPI Service, a Milestone for Derivatives Markets
By Manesh Samtani | 18/10/2023
The US, EU, UK, Australia and Singapore will all start requiring UPI reporting for OTC derivatives transactions in 2024.
Japan Considers New Law to Ease Loan Access for Small Businesses
By Sanday Chongo Kabange | 17/10/2023
The proposed law would allow startups and other SMEs to obtain loans based on intangible assets such as their technological capabilities or customer base.
Crypto / Digital Assets
Japan Consortium to Launch Digital Currency in July 2024
By Editors | 13/10/2023
A consortium of Japanese firms plans to launch the DCJPY, a digital currency backed by JPY bank deposits, by July 2024.
ESG / Sustainability
Japan Launches Trading in New Carbon Credits Market
By Editors | 12/10/2023
On the first day of trading, the TSE said 3,689 tons of emissions were traded, with renewable power being the most active J-Credits category.
Market Infrastructure
UPDATED – Japan Suffers Payment Clearing Network Disruption
By Editors | 11/10/2023
Zengin-Net restored its system in the early hours of Thursday (12 October). The FSA ordered the production of a detailed report of the incident.
Enforcement
Korean Investors Warned About Illegal Overseas Trading
By Editors | 09/10/2023
The FSC and FSS say there has been a recent increase in the number of foreign investigations involving Korean investors.
Market Infrastructure
Japanese, Korean Regulators Agree to Strengthen Cooperation
By Sanday Chongo Kabange | 06/10/2023
The FSA and FSC will cooperate on financial stability, climate change, and digitalisation of financial services. KFB and JBA also signed an MoU.
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