Japan
On 13 September 2024, the Financial Services Agency (hereinafter referred to as the “FSA”) published a Draft Cabinet Order and Cabinet Office Ordinance on the 2024 Amendment to the Financial Instruments and Exchange Act. For more information, please click here.
On 17 September 2024, FSA published the results of a survey on the adoption and usage of NISA accounts. NISA accounts are individual savings account for Japanese residents which confer special tax benefits, they were revamped in January 2024 to encourage individuals to move cash savings into stocks and mutual funds and are an important component of the Asset Management Nation plan. The published article showed that there are currently over 24 million NISA accounts currently across Japan, a 4.5% increase since March 2024. For more information, please click here.
Enforcement
On 19 September, the Securities and Exchange Surveillance Commission (SESC) issued the FSA a recommendation to issue a monetary penalty payment order to Human Metabolome Technologies Inc after an investigation found that the company had been engaging in the spreading of false rumors related to the shares of the company. The Company has been ordered to pay 2,090,000 yen by November 19, 2024, to the National Treasury. For more information, please click here.
This document is provided for information purposes only and does not constitute legal, tax, investment, regulatory, accounting or other professional advice. For more information on the legal and regulatory status of IQ-EQ companies please visit www.iqeq.com/legal-and-compliance.