meta_id 3181819

On May 25, 2026, Japan's Financial Services Agency (FSA) published the results of a public consultation on proposed amendments to the Comprehensive Supervisory Guidelines for Financial Instruments Business Operators (金融商品取引業者等向けの総合的な監督指針). The FSA opened the consultation period from March 25, 2026 to April 24, 2026, seeking public feedback on the proposed amendments. The consultation received no substantive comments from respondents. The FSA received two submissions unrelated to the consultation, which it said it would consider for future financial administration purposes. The amendments follow revisions made by the Japan Securities Dealers Association (日本証券業協会) to its self-regulatory rules governing investment solicitation, customer management, and related matters for association members. The FSA's amendments align its supervisory guidance with these self-regulatory rule changes to ensure consistency across the regulatory framework for financial instruments business operators. The amended Comprehensive Supervisory Guidelines apply effective immediately from May 25, 2026. The FSA published a marked-up version showing the changes between the previous and revised text alongside the announcement. The amendments affect financial instruments business operators and securities firms subject to FSA supervision. The changes reinforce regulatory expectations regarding investment solicitation practices and customer management procedures in line with industry self-regulatory standards. Inquiries regarding the amendments can be directed to the FSA's Securities Division within the Supervision Bureau.