Financial Services Agency

Operational Risk

Japan FSA Issues Revised Report on Supervisory Overhaul

By Manesh Samtani | 08/07/2018

Report was revised following consultation on proposed move to ‘dynamic supervision’ model; FSA says existing supervisory approaches deter focus from priority issues and may not prevent next crisis.

Cryptocurrency

Japan’s Line Corp To Launch Crypto Exchange in Singapore

By Garima Chitkara | 02/07/2018

Cryptocurrency exchange will be launched outside Japan, with application with Japan FSA still pending; Line Corp looking to capitalise on user base for payments, transfers and asset management services.

Anti-Money Laundering

Japan to Use Credit Scores to Monitor Crypto Trading

By Emma Zhou | 29/06/2018

The Japanese government plans to use personal credit information and social media IDs to monitor suspicious crypto trading activities and accounts.

Data Privacy

Non-EU Markets Regulators Seek Formal GDPR Exemptions – Report

By Manesh Samtani | 28/06/2018

New EU data privacy law could put cross-border investigations in jeopardy, leading non-EU regulators including Japan’s FSA and Hong Kong’s SFC to press for formal clarification on application of cross-border information sharing exemptions.

Anti-Money Laundering

UPDATED – Japan Orders Six Crypto Exchanges to Improve AML Systems

By Garima Chitkara | 25/06/2018

FSA issued business improvement orders to six exchanges after it found lax AML processes during on-site inspections. Of the six targeted, BitFlyer has stopped taking on new clients until it makes changes to its client management processes.

PEPs & Sanctions

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.

Cryptocurrency

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.

Emerging Prudential Risks

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.

Anti-Money Laundering

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.