JFSA published preliminary evaluation report on regulatory issues

March 4, 2021

1. Review the business scope of banks

  • Covid has changed the business landscape as well as socio-economic circumstances of banks, pushing the industry towards digitization and regional revitalization.
  • Regulatory rules must be reviewed to respond to the on-going changes to support improvement and business revitalization for firms faced with financial challenges.

 

2. Measures to strengthen financial stability of the industry

  • Introduce measures to support post-Covid recovery and revitalization.
  • Ease lending restrictions, possibility of exercising inspection rights on bankruptcy decisions.

 

3. Rules to ease burden of listing

  • The listing burden was lightened through the financial instruments and exchange act by enabling firms, excluding major ones, to opt out of certified public accountants audit for their internal control reports, for the first three years after initial listing.

 

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