On Jan. 10, JPN FSA revised requirements for financial company list.
JPN FSA revised reporting forms and requirements for inclusion on the financial company list, and guided on the next report acceptance period by Jul. 11, 2025.
Follows JPN FSA Apr. 2023 revised rules for financial company list, see #168410.
As per revisions to the customer-oriented principles on Sep. 26, 2024, revise certain columns in the principles-initiatives correspondence table and reporting form (2).
In addition, add a column related to supplementary principles of product governance.
For the requirements, specify that the principles adopt a comply-or-explain approach.
Financial businesses that adopt the principles and apply for inclusion on the financial company list shall clearly indicate in the correspondence table whether they will implement each of the principles, and future policy if they decide to implement them.
If they decide not to implement them, the reason for their decision not to implement them and alternative measures shall be described in an easy-to-understand language.
The listing may be cancelled after notification, where actual implementation cannot be confirmed even though financial business operators declare a plan for implementation.
Or where the implementation policy formulated is significantly different from the actual implementation, where financial business operators do not promptly improve their implementation or revise their implementation policy to reflect the actual situation.
Next Reporting
Financial business operators which have adopted the principles and published their policy, and wish to be included on the list or continue to be included on the list, must first post the correspondence table prescribed by JPN FSA on their own website.
Subsequently, they must fill out necessary information in the specified reporting form and submit it to JPN FSA's designated email address by 17:00hrs on Jul. 11, 2025.
Effectiveness
Revised reporting requirements will be applied from the next report by Jul. 11, 2025.
