Financial Services Agency

AML / KYC

Japan FSA Orders Banks to Report on North Korea JVs

By Manesh Samtani | 25/06/2018

All banks and credit unions ordered to provide the details on accounts used by 10 existing Japan-North Korea joint ventures, including details on individuals and entities, assets, employees and transaction records.

Enforcement

Japan Scrutinises Crypto Exchanges, Industry Body to Release New Rules

By JP Reimann | 21/06/2018

FSA to issue business improvement orders on registered crypto exchanges; self-regulatory industry association to release new voluntary rules on 27 June.

Enforcement

Thailand, Japan to Cooperate on Banking Supervision

By Manesh Samtani | 20/06/2018

BOT and Japan FSA agreement sets out process they will follow to foster greater cooperation for information sharing, on-site visits, supervisory colleges and crisis management.

AML / KYC

Japan to Review AML Measures at Banks Ahead of FATF Inspection

By Garima Chitkara | 07/06/2018

FSA to conduct interviews and on-site inspections on all of Japan’s banks and credit unions’ measures to prevent money laundering and illegal remittances.

Market Infrastructure

Japan Publishes Revised Corporate Governance Code  

By JP Reimann | 04/06/2018

Revised code urges disclosure of plans to reduce cross-shareholdings, pushes for diversity in management, including more women non-Japanese.

AML / KYC

Japan FSA Toughens Rules on Crypto Exchanges

By JP Reimann | 09/05/2018

New requirements include standards on system management, customer vetting, segregation of assets, removal of privacy coins, separation of duties.

Fintech / Regtech

‘Privacy Coins’ Pose Money Laundering Risk – Japan FSA

By JP Reimann | 03/05/2018

Regulator is taking steps to discourage exchanges from trading privacy-focused cryptocurrencies favoured by criminals such as Monero, Dash, Zcash.

AML / KYC

Japan Proposes Regulatory Framework to Legalise ICOs

By Manesh Samtani | 09/04/2018

Government-backed research group proposes rules for identifying investors, preventing money laundering and protecting equity and debt holders.

AML / KYC

Japan FSA Orders Business Improvement, Closures at Crypto Exchanges

By Manesh Samtani | 10/03/2018

Five exchanges including recently-hacked Coincheck ordered to improve internal controls; two exchanges ordered to halt services.