The IBA held its 28th Annual General Meeting (AGM) on November 28 at the Okura Hotel in Tokyo, followed by a reception with 200 guests. The main speaker was the Commissioner of the Financial Services Agency, Mr. Ryutaro Hatanaka, who discussed recent trends in financial and capital markets, and regulatory and supervisory challenges.
Mr. Shigeru Ariizumi, Director, Banks Division I, Inspection Bureau, Financial Services Agency
Mr. Ariizumi spoke on the FSA’s focus and policy of the supervision and the FSA’s financial institutions. The points addressed included more effective customer protection, evaluation of BCP and IT system management, and market risk and liquidity risk management given the recent market developments, especially in Europe and the U.S.
Mr. Haruhiko (Harry) Saito, CEO and Managing Director, TIC K.K.
Mr. Saito discussed the following topics: (1) recent regulatory dynamics; (2) new areas of focus and the regulatory intent; (3) major expectations on internal controls and key determinants of regulatory sanctions; and (4) practical measures for IBA member firms in dealing with regulators. The content was practical, covering recent regulatory concerning areas such as information controls, management of outsourced services and IT risk management.
