Financial Services Agency Explained

Agency Name:Financial Services Agency
Nativename:Japanese: 金融庁
Nativename R:Kin'yū-chō
Seal:Go-shichi_no_kiri_crest.svg
Picture Width:250px
Picture Caption:Kasumigaseki Common Gate West Building
Headquarters:3-2-1 Kasumigaseki, Chiyoda-ku, Tokyo, Japan
Minister1 Name:Shunichi Suzuki
Minister1 Pfo:Minister of State for Financial Services
Minister2 Name:Tatsunori Ibayashi
Minister2 Pfo:State Minister
Minister3 Name:Junichi Kanda
Minister3 Pfo:Parliamentary Vice-Minister
Chief1 Name:Hideki Itō
Chief1 Position:Commissioner
Parent Agency:Cabinet Office

The is a Japanese government agency and an integrated financial regulator responsible for overseeing banking, securities and exchange, and insurance sectors in order to ensure the stability of the financial system of Japan. The agency operates with a Commissioner and reports to the Minister of State for Financial Services. It oversees the Securities and Exchange Surveillance Commission and the Certified Public Accountants and Auditing Oversight Board.[1] Its main office is located in Tokyo.

History

The FSA was established on July 1, 2000 by the merger of the Financial Supervisory Agency with the Financial System Planning Bureau, a bureau of the Ministry of Finance. The Financial Supervisory Agency had been established in 1998, amid severe instability in the Japanese financial system, to conduct concentrated inspections of Japanese financial institutions in coordination with the Bank of Japan.[2] The FSA was under the supervision of the Financial Reconstruction Commission (FRC) until January 2001, when the FRC was abolished and the FSA became directly subordinate to the Cabinet Office through a State Minister.[3]

Organization

The FSA consists of the following organizations:

A portion of the FSA's inspection and supervision authority with regard to local financial institutions is delegated to Local Finance Bureaus and Local Finance Offices throughout Japan. These are organs of the Ministry of Finance but are directed and supervised by the FSA Commissioner in this capacity.

Cabinet Ministers

!Name!From!To!Prime Minister
Hakuo YanagisawaJanuary 6, 2001September 30, 2002MoriKoizumi
Heizo TakenakaSeptember 30, 2002September 27, 2004Koizumi
Tatsuya ItoSeptember 27, 2004October 31, 2005Koizumi
Kaoru YosanoOctober 31, 2005September 26, 2006Koizumi
Yuji YamamotoSeptember 26, 2006August 27, 2007Abe
Yoshimi WatanabeAugust 27, 2007August 2, 2008AbeFukuda
Toshimitsu MotegiAugust 2, 2008September 24, 2008Fukuda
Shoichi NakagawaSeptember 24, 2008February 17, 2009Aso
Kaoru YosanoFebruary 17, 2009September 16, 2009Aso
Shizuka KameiSeptember 16, 2009June 11, 2010HatoyamaKan
Yoshito Sengoku (acting)June 11, 2010June 11, 2010Kan
Shozaburo JimiJune 11, 2010June 4, 2012KanNoda
Tadahiro MatsushitaJune 4, 2012September 10, 2012Noda
Jun Azumi (acting)September 10, 2012October 1, 2012Noda
Ikko NakatsukaOctober 1, 2012December 26, 2012Noda
Taro AsoDecember 26, 2012October 4, 2021AbeSuga
Shunichi SuzukiOctober 4, 2021CurrentKishida

See also

Notes and References

  1. http://www.fsa.go.jp/en/about/about01_menu.html Organizational chart of FSA
  2. Web site: On the Establishment of the... : FSA. 2020-09-04. www.fsa.go.jp.
  3. Web site: FSA Pamphlet.