Japan securities outlook: Find out more in New York and Toronto
IBA Japan member firms may want to highlight to their colleagues and other investors based in New York and Toronto, an opportunity to hear from a range of senior Japanese government and regulatory officials as well as expert analysts and other major players in the Tokyo market.
The Japan Securities Summit 2016 will take place in New York on 10th March.
FSA answers to IBA comment on short selling regulations
The FSA has published the final short selling regulations together with answers to public comments.
http://www.fsa.go.jp/news/25/syouken/20130821-3.html (Japanese only)
BOJ Governor Kuroda Meeting with Business Leaders in Osaka
On September 28th BOJ Governor Kuroda gave a speech to a gathering of business executives in Osaka. Full record here:
https://www.boj.or.jp/en/announcements/press/koen_2015/data/ko150928a1…
Letter to IOSCO and BCBS setting out how current margin settlement requirements will negatively disadvantage Japan and Asian markets because of time zone differences
The Japan Financial Markets Council (JFMC) and the International Swaps and Derivatives Association (ISDA) sent a letter to IOSCO and BCBS pointing out how the current margin settlement requirements for uncleared swaps will disadvantage Japan and Asian markets because they are in a different time zone. The T+1 requirement will place an additional burden on market participants in the Asia-Pacific region including their access to types of collateral which may result in higher overall funding costs.
Mr Nobuchika Mori, Commissioner of the Japanese FSA addresses the 31 st Annual General Meeting of the International Bankers Association of Japan
The full speech of Commissioner Mori can be found at this link:
http://www.fsa.go.jp/common/conference/danwa/20151125/01.pdf
KPMG 2015 Global Tax Rate Survey
KPMG released its International’s 2015 Global Tax Rate Survey. The survey has been run for many years in cooperation with KPMG global network member firms. Although the previous surveys covered corporate tax rates and indirect tax rates only, this year’s includes information on individual income tax rates (basically, the top marginal tax rates) and social security rates (both rates for employers and employees) as well.
FSA Commissioner Mori on "Rethinking regulatory reforms"
KPMG Publishes its 2015 Foreign Banks in Japan Survey
KPMG released its annual survey of published financial statements of foreign banks operating in Japan.
The financial information included in this survey represent the English translation of the condensed balance sheets for the fifty-six foreign banks registered in Japan and their related condensed statements of income as of and for the year ended March 31, 2015.
To see the survey follow this link: - Foreign Banks in Japan Survey 2015.
A government appointed panel sets out Japan’s progress in developing its financial and capital markets
The goal of the Panel is to vitalise the Japanese economy, promote business and develop the Tokyo market into a leading international financial centre by 2020. A wide range of measures have been made including regulatory and structural changes to help support this aim and the report also highlights some further issues which need to be tackled.
http://www.fsa.go.jp/en/refer/councils/vitalizing/20150721/01.pdf