Financial Market Entry Office

21 Januari 2021

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Datum:
Donderdag 21 Januari 2021
Locatie:
Digital

Dear Sir/Madam,

 

We are delighted to inform you that the Financial Services Agency, the Government of Japan ("FSA") announced on November 6, 2020 the new measures to strengthen Japan's functions as a global financial center.

 

The FSA and Local Finance Bureaus ("LFBs") will jointly establish in January 2021 "Financial Market Entry Office" that handles pre-application consultation, registration, and supervision for newly entering asset management firms as a single point of contact with all the communications available in English. In order to achieve that, the FSA will amend relevant regulations to accept documents in English, and the FSA and LFBs will improve their capacities. The proposed amendment was published on the same day (November 6) for public consultation until December 7 and will come into force in January 2021, while the pre-application consultation is available in English already.

 

These measures are expected to accelerate the registration process for newly entering asset management firms, and a part of initiatives (in relation to, for example, taxation, human capital, business environment, and administrative services in English) to promote Japan's financial market and to attract more foreign financial business operators and professionals to Japan. We believe strengthening Japan's functions as a global financial center will help global financial markets become more resilient against crises such as natural disasters through geographical diversification of business headquarters, and therefore the FSA is making its utmost effort to improve the business environment in Japan for foreign asset managers.

 

For more details, please visit the FSA's website below.

https://www.fsa.go.jp/en/news/2020/20201106-2/20201106.html

 

Should you have any questions, please feel free to contact the FSA (marketentry@fsa.go.jp) directly.

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