Publication of the finalized amendments to the „Comprehensive Guidelines for Supervision of Financial Instruments Business Operators, etc.“ after public consultation

The FSA informed about the amendment of the Comprehensive Guidelines for Supervision of Financial Instruments Business Operators, etc..
The revisions were made in response to recommendations by the FSB an IOSCO regarding certain aspects of the guidelines. As a reminder, on 27 January 2023, FSA informed about a public consultation concerning its proposals of draft amendments to the aforementioned guidelines.
The first amendment requires fund managers and SPBQIIs to submit monitoring reports on the funds they manage. This update was made in line with a policy recommendation made in 2019 by the FSB on structural vulnerabilities in the asset management sector. Additionally, IOSCO proposed a framework for assessing the leverage of investment funds in 2020.
The second amendment requires managers of MRFs and MMFs to develop contingency plans to address any vulnerabilities in their respective funds. This change was made following a policy proposal by the FSB in October 2021 to improve the resilience of MMFs. Furthermore, the Japanese Investment Trusts Association made voluntary amendments to their self-regulatory rules to encourage investment managers to take appropriate measures for contingency plans stipulated in its rules, thereby improving the resilience of MMFs.
These two revised amendments to the guidelines came into effect on 30 March 2023.