On Feb. 7, 2025, JPN FSA issued 82 public comments received and its responses.
Amended art. 80 para. 1 item 5(a) of FIBO to ensure that the proviso to art. 37-3 para. 1 of Financial instruments and exchange act (FIEA) applies, where shares bought via a shareholder association composed of an issuer's trading counterparts are sold.
Amended art. 80 para. 2 of FIBO, to ensure that bond transactions under art. 79 para. 6 item 2 can be treated in the same way as transactions of listed securities.
Clarified retention period for legal books in art. 157 para. 1 items 1-2, 2-2, 17-2.
Revised orders and ordinances, which were published on the Official Gazette on the same day, and supervisory guidelines will be effective from Apr. 1, 2025.
In Feb. 2025, JPN FSA said digital documents will take effect on Apr. 1, see #244449.
In Feb. 2025, JPN JITA published revised prospectus preparation rules, see #244518.
In Feb. 2025, TFX proposed revising trading account setup agreement, see #244593.
On Oct. 23, JPN FSA proposed revisions re customer-oriented sales.
JPN FSA proposed revisions to related cabinet office orders, ordinances, in accordance with the Act amending financial instruments and exchange act enacted Nov. 20, 2023.
Including Cabinet office order on financial instruments business (FIBO), Cabinet office ordinance on disclosure of information, etc. on issuers of foreign government bonds.
Overview of Proposed Revisions
Specify methods for providing information to customers before signing a contract, exemptions from the obligation to provide explanations in light of customer attributes.
Clarify the starting date of the cooling-off period depending on the method of providing information; establish provisions regarding the electronic provision of prospectuses.
Establish provisions on digitalization of trial procedures re an order to pay surcharges.
Consultation Period
Comments shall be submitted by Nov. 22, 2024.
Feb. 2025 Revisions Finalized
On Feb. 7, 2025, JPN FSA issued 82 public comments received and its responses.
Amended art. 80 para. 1 item 5(a) of FIBO to ensure that the proviso to art. 37-3 para. 1 of Financial instruments and exchange act (FIEA) applies, where shares bought via a shareholder association composed of an issuer's trading counterparts are sold.
Amended art. 80 para. 2 of FIBO, to ensure that bond transactions under art. 79 para. 6 item 2 can be treated in the same way as transactions of listed securities.
Clarified retention period for legal books in art. 157 para. 1 items 1-2, 2-2, 17-2.
Revised orders and ordinances, which were published on the Official Gazette on the same day, and supervisory guidelines will be effective from Apr. 1, 2025.
In Feb. 2025, JPN FSA said digital documents will take effect on Apr. 1, see #244449.
In Feb. 2025, JPN JITA published revised prospectus preparation rules, see #244518.
In Feb. 2025, TFX proposed revising trading account setup agreement, see #244593.
Regulators
JPN FSA
Entity Types
B/D; Corp; SIFI
Reference
OG 25, Ord 1m Ord 8, Ord 30, RF, FS, 2/7/2025; CP 10/23/2024; Law 79 of 2023; Ord 29 of 2024; FIBO; FIEA;
