The FSA - Financial Services Agency is the Japanese state organization. The entity is serving as an integrated financial regulatory body.
The FSA – Financial Services Agency is the Japanese state organization. The entity is serving as an integrated financial regulatory body. Also, the agency is responsible for monitoring banking, exchange and securities, and insurance sectors across the region. Moreover, such objectives are structured in order to assure the stability of the Japanese financial system’ soundness.
The Financial Services Agency is operating with the help of commissioner and is reporting to the Minister for Financial Services. Moreover, the regulator is monitoring the Securities and Exchange Surveillance Commission and the Certified Public Accountants and Auditing Oversight Board.
Responsibility of FSA – Financial Services Agency
The Financial Supervisory Agency was established as an administrative organ responsible for examination and monitoring of private sector financial institutions. Also, the regulatory body is also responsible for surveillance of the compliance of the rules in the financial markets. After the establishment of the Financial Reconstruction Commission (FRC) in December of 1998, the Financial Supervisory Agency commenced its activities as an organization under the jurisdiction of the FRC.
The Financial Services Agency was established under the jurisdiction of the FRC via rearrangement of the Financial Supervisory Agency. After this change, the FSA started its work as the organization responsible for planning of the financial system.
FSA plays a role in Japan’s economy development
The regulator plays a crucial role for the sound development of the Japanese economy. Also, the FSA in Japan has three key objectives:
- Creation of a stable financial system
- Protection of users and advancement in user experience
- Formation if the fair and transparent financial markets
Moreover, one of the major tasks of FSA is to strive for qualitative advancement of financial regulation and supervision by changing the measures to such adjustments.