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Settlement information to be disclosed to Japanese regulator

Chris Hamblin, Editor, London, 20 June 2017

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The Japanese Financial Services Agency has drafted an order to make banks send it information about their electronic settlement policies.

The FSA refers to the draft as the “Cabinet Office Order on Banks’ Policies on Co-operation and Collaboration with Electronic Settlement Agents” and is issuing it in line with Article 10 of the supplementary provisions of the Act for Partial Revision of the Banking Act 2017, which stipulates that banks - including private banks - must prepare and disclose their basic policies regarding their co-operation and collaboration with electronic settlement agents within nine months after 2nd June, the date on which the Act came into force.

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