Japan’s FSA registers increase in enquiries about investment products in Q3 2019

Maria Nikolova

The number of consumer enquiries about investment products increased from 2,164 to 2,234, according to the latest data provided by Japan’s Financial Services Agency.

Japan’s Financial Services Agency (FSA) has earlier today published the latest data about the operations of its Counseling Office for Financial Services Users.

According to the report for the quarter to end-September 2019, the number of enquiries about investment products amounted to 2,234. This is up from the 2,164 consumer enquiries about such products registered in the preceding quarter.

Across products, 493 (22% of the total) related to listed shares, 263 (11%) related to FX, and 186 (8%) related to investment trusts.

There were 87 cases related to fraudulent investment solicitation, 59 of which involved harm.

There was a slight quarter-on-quarter rise in the number of questions received regarding crypto assets. The number of enquiries regarding crypto assets (virtual currency) amounted to 522 in the third quarter of 2019. This compares 494 such enquiries handled in the preceding quarter.

The increase, albeit small, marks the end of a period of declining volumes of enquiries about virtual currencies. The drop in these questions has been seen to mark the subsiding of the hype around cryptocurrencies and the effect of the tight control that the FSA is exercising on the industry.

Let’s recall that the Japanese authorities have taken several actions against non-compliant virtual currency businesses.

In June this year, for instance, the FSA announced an administrative action against FISCO Cryptocurrency Exchange. The action followed an onsite inspection conducted by the Japanese authorities at the offices of the Exchange in February.

The inspection revealed a set of law violations by the company concerning its business management. Inter alia, the Board of Directors did not discuss important management issues such as business plans. There were also problems with the risk management system for anti-money laundering and terrorism financing, and the external management system concerning outsourcing. The FSA has therefore issued a business improvement order to the company.

Read this next

Digital Assets

Midas launches investment strategies for the ‘crypto winter’

Midas.Investments has released three new investment strategies on its custodial CeDeFi platform, creating new opportunities during the ‘crypto winter’.   The platform merges diverse approaches to digital asset management into single-click products to let investors gain steady profits in any market conditions — including the ongoing bear market. a custodial CeDeFi platform, CeDeFi: Unlocking the […]

Digital Assets

Bitcoin.com Wallet adds several ERC-20 tokens

The product expansion includes representatives of the DeFi world, the Metaverse, and the largest stablecoins.

Market News

Savvy Investors to Profit Whether the Stock Market Rebounds or Not

Equities have gone up enormously since the low. SP500 has gained 13.88% since June 17. In August, the indices drifted sideways. On Wall Street, veteran investors expect a move in either direction.

Industry News

Wall Street-backed MEMX obtains SEC approval for options trading platform

The company has raised more than $135 million in funding from 18 stock trading and investing heavyweights, including BlackRock, Citadel Securities, and Morgan Stanley.

Industry News

Amundi US launches ESG strategy that seeks to outperform S&P 500

Amundi’s Responsible investing team includes more than 45 specialists, and its ESG analysis covers more than 13,500 issuers across debt and equity.

Industry News

Verto launches embedded FX payments solution

The Verto API automates currency conversions, tracks payments and exchange rates in real-time, and is being launched in the follow-up of a $10 million in Series A funding last year.

Industry News

SEC awards over $16m to whistleblowers after another successful enforcement action

The program is 10 years-old and has arguably played a critical role in the Division of Enforcement’s ability to effectively detect wrongdoing, protect investors and the marketplace, and bring violators to justice.

Digital Assets

Ripple submits most succint explanation of Hinman issue in XRP lawsuit

It might be useful to get up to date as this could be the end of the road for the SEC.

Retail FX

TradingView integrates first Brazilian broker, Órama Investimentos

Órama offers all kinds of investment products, from fixed income to crypto-related funds.

<