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Financial Institution Compliance Procedures in Japan
The Financial Services Agency (FSA) of Japan has recognized the importance of “Better Regulation” as a major issue for creating a better regulatory environment in the future. To achieve this objective, improving transparency and predictability of regulatory actions has been placed at the forefront of FSA’s initiatives.
Key Resources
In order to facilitate understanding of the FSA’s programs and activities, key documents and materials developed by respective divisions in charge of planning, inspection, and supervision are now available online for public reference. These resources aim to enhance compliance procedures among financial institutions in Japan.
Main Areas of Focus
I. General Principles
- The Principles in the Financial Services Industry: This section outlines the fundamental principles governing the Japanese financial services industry.
- Regulatory System: Laws and Regulations, Q&As: This section provides access to relevant laws, regulations, and frequently asked questions related to the regulatory framework.
II. Inspections
- Financial Inspection Manuals: This section contains guidelines for conducting inspections of financial institutions.
- Basic Guidelines and Policies for Financial Inspections: These guidelines outline the principles and procedures for conducting financial inspections.
- Collection of Reference Cases: This section provides examples of previous inspection cases.
- Q&As: Frequently asked questions related to inspections are also available.
III. Supervision
- (1) Supervisory Guidelines and Policies
- Supervisory Guidelines, etc.: Comprehensive guidelines for supervising major banks, small- and medium-sized enterprises, regional financial institutions, insurance companies, and other entities are outlined in this section.
- Guidelines for Administrative Processes: Financial Companies (Available in Japanese): This document outlines the administrative processes for financial companies.
- Public Comments and the FSA’s views on Partial Revision of Guidelines for Supervision (Available in Japanese)
- Supervisory Guidelines, etc.: Comprehensive guidelines for supervising major banks, small- and medium-sized enterprises, regional financial institutions, insurance companies, and other entities are outlined in this section.
- (2) Administrative Action, etc.
- Administrative Action in the Financial Sector: This section explains the types of administrative actions that can be taken against financial institutions.
- Collection of cases in which administrative action has been taken (Available in Japanese)
- Administrative Action in the Financial Sector: This section explains the types of administrative actions that can be taken against financial institutions.
- (3) Inquires Procedures regarding Construction of Laws and Regulations
- No-Action Letter system
- General inquiry on laws and regulations
- (4) Others
- Basel II: This section provides information on the new capital adequacy framework for banks.
- Q&As, etc.: Frequently asked questions related to Basel II are available.
- Others: Additional resources and information are also provided in this section.
- Basel II: This section provides information on the new capital adequacy framework for banks.