Publication of the main issues raised by the FSA at opinion exchange meetings with relevant associations in the financial sector
<Summary>
The FSA has published the main issues raised by the FSA at opinion exchange meetings* held with relevant associations in the financial sector in November 2023. (Available only in Japanese).
Notable issues discussed by most of the groups were:
– “Comprehensive Economic Measures for Completely Breaking Free from Deflation: Toward a New Stage of the Japanese Economy,” published by the Cabinet Office in November 2023
– Enhancement of the human resource intermediary functions of regional financial institutions
(The FSA has been promoting a project for matching human resources for regional corporate management to create a new inflow of professionals from major corporations to small- and medium-sized enterprises through the human resource intermediary functions of regional financial institutions, thereby encouraging professionals with expertise at major corporations to play an active role in the respective regions.)
– Steady implementation of UN Security Council resolutions (in regard to North Korea)
– Enforcement of the “Act on the Promotion of Ensuring Economic Security Through Implementation of Integrated Economic Measures” (i.e. the “Economic Security Promotion Act”) [provisional English law title], and
– Semi-annual follow-up questionnaire with the respective financial institutions to ascertain the development status of their risk management systems for AML/CFT (Anti-Money Laundering and Combating the Financing of Terrorism), and other relevant matters (including the forum across the financial sector and other relevant sectors).
* To enhance the transparency of its administration and to share its awareness of issues in the financial sector in a timely manner, every month the FSA publishes the main issues raised by the FSA at opinion exchange meetings with the relevant associations** in the financial sector. Opinion exchange meetings are held with the respective associations on a regular basis.
** In November 2023, opinion exchange meetings were held respectively with the following seven groups: major banks, etc.; the Regional Banks Association of Japan and the Second Association of Regional Banks; Community Bank, Shinyo Kumiai (National Central Society of Credit Cooperatives); the Life Insurance Association of Japan; the Japan Securities Dealers Association (JSDA); Labor banks sector; and funds transfer service providers.
The original press release is available in Japanese at the following URL:
https://www.fsa.go.jp/common/ronten/index.html
