On Apr. 10, 2025, JPN JSDA said no comment was received during the consultation period, and revised self-regulatory rules will be implemented from May 1, 2025.
Document dated Apr. 10, 2025, received from JPN JSDA Apr. 14, summarized Apr. 16.
JPN JSDA proposed revisions to self-regulatory rules like Rules on the acceptance of deposits of securities, as per Financial instruments and exchange act revised in 2024.
Revised Act created special provisions to relax the registration requirements for type I financial instruments business for those only engaging in unlisted securities brokerage.
Follows JPN FSA Mar. 2024 submitted revisions re FIEA and trusts, see #204716.
JPN JSDA Nov. 2024 proposed revisions to Articles of incorporation, see #234203.
Outline of Revisions
Clarify the application of JPN JSDA's self-regulatory rules re special intermediary services for unlisted securities, relax regulations on trading of unissued OTC securities to promote the launch of new services by financial instruments business operators.
The qualifications required for persons engaged in the internal management of special brokerage services for unlisted securities must correspond to the products they handle.
Similar measures for persons engaged in internal management of services under article 5 item 2(b) of Articles of incorporation of specified business members.
Consultation Period
Comments shall be submitted by Mar. 19, 2025 for planned effectiveness from the date of enforcement specified in article 1 of supplementary provisions of the revised Act.
Apr. 2025 Revisions Finalized
On Apr. 10, 2025, JPN JSDA said no comment was received during the consultation period, and revised self-regulatory rules will be implemented from May 1, 2025.
Document dated Apr. 10, 2025, received from JPN JSDA Apr. 14, summarized Apr. 16.
Regulators
JPN JSDA
Entity Types
B/D; OTC
Reference
RF, FS, 4/10/2025; CP 2/18/2025; Law 32 of 2024; FIEA;
