Jul 3, 2014

Fire insurance premiums expected to rise 3.5% next year

An organization of casualty insurance companies said it will raise benchmark rates used to set member companies’ fire insurance premiums by an average of 3.5 percent to cope with increasing payouts following recent natural disasters. The General Insurance Rating Organization of Japan said Wednesday ...

Cabinet to mull bitcoin regulation 'if necessary'

Mar 18, 2014

Cabinet to mull bitcoin regulation 'if necessary'

The Abe administration decided Tuesday to consider taking steps to regulate bitcoin trading, if necessary, after obtaining more information about the digital currency. But the Cabinet of Prime Minister Shinzo Abe did not say whether it will immediately seek a legal system to regulate ...

Oct 29, 2013

Japan to probe mega-banks after mob loan scandal

The Financial Services Agency said it will probe Japan’s three biggest banks following the loans-to-mobsters scandal that has raised questions about corporate links with organized crime. The watchdog will look at Mizuho Bank’s business dealings as well as Bank of Tokyo-Mitsubishi UFJ and Sumitomo ...

Oct 17, 2013

Mizuho reported to FSA about shady loans without sufficient probe

A former Mizuho Bank vice president in charge of compliance matters said Thursday the bank submitted to Japan’s financial watchdog a false report on its lending to people related to underworld groups without interviewing him. Tetsuro Ueno, who was in charge of legal compliance ...

Oct 12, 2013

Mizuho Bank faces more FSA penalties over yakuza loans

The Financial Services Agency will weigh additional penalties against Mizuho Bank after it explains later this month its failure to reveal executives’ involvement in loans to underworld groups, officials of the watchdog said. Mizuho, one of the nation’s biggest banks, may face criminal prosecution ...

Oct 11, 2013

FSA orders Abraham Private Bank to suspend business for six months

The Financial Services Agency on Friday ordered Abraham Private Bank to suspend business for six months with immediate effect, saying the Tokyo-based investment adviser sold investment products without registering itself for the sales. However, the FSA will allow Abraham to accept investment cancellations in ...