The Financial Services Agency of Japan (FSA) published its responses to public comments on the draft version of new guidelines on environmental, social, and governance (ESG) public funds on March 31. This LawFlash discusses...more
With a view toward promoting environmental, social, and governance (ESG) investments and building a more sustainable society, the Japan Financial Services Agency (FSA) has proposed new guidelines that define the scope of ESG...more
The United States has announced yet another round of economic sanctions against Russia that builds on existing sanctions and extends them to new sectors of the Russian economy. The U.S. Department of the Treasury’s Office of...more
The Situation: The amendment to the Payment Services Act ("PSA") of Japan took effect in May 2021, removing the current numerical transfer cap placed on fund transfer services by nonbank institutions. The Result: This...more
The Working Group Committee of Japan's Financial Services Agency has recommended a new exemption system for fund managers who manage overseas investors' funds, with fewer restrictions on eligible investors. On December 23,...more
All U.S. persons or businesses that meet the definition of a "financial services provider" and conducted financial services transactions with foreign persons during the 2019 fiscal year must file the survey known as the...more
The Japanese Financial Services Agency released a new regulation allowing foreign fund managers and securities brokers to transfer their operations to Japan temporarily and without registration in certain emergency...more
This alert provides a summary of the announcement (Announcement) issued by the Kanto Local Finance Bureau (KLFB) at the beginning of August 2020. Responding to the Japanese government’s “Report concerning Promotion of...more
Subordinate regulations under the Financial Instruments and Exchange Act, Act No. 25 of 1948, as amended (FIEA), were amended on July 22 to allow foreign business operators to temporarily conduct business in Japan upon...more
Following the declaration of a state of emergency due to COVID-19, Japan’s Financial Services Agency (FSA) made recent announcements extending the filing deadline for annual securities reports and other disclosure reports,...more
U.S. Developments - VanEck and SolidX to Offer Bitcoin ETF to Qualified Institutional Buyers - On September 3, 2019, VanEck Securities Corp. and SolidX Management LLC announced that they are seeking to use Rule 144A of...more
On December 28, 2018, the Japanese Financial Services Agency (the “JFSA”) published a number of notices detailing proposed changes in the regulatory capital requirements applicable to Japanese banks and certain other...more
On October 24, 2018, Japan’s Financial Services Agency (FSA) gave the country’s cryptocurrency industry self-regulatory status, allowing the Japan Virtual Currency Exchange Association (JVCEA) power to police and penalize...more
Following the Basel Committee on Banking Supervision and the International Organization of Securities Commissions' March 18, 2015, release of revisions to the framework for margin requirements for non-centrally cleared...more