The Japan Financial Services Agency has opened a public consultation on a draft amendment to a Cabinet Office Ordinance under the National Strategic Special Zones framework that would remove fund audit requirements for certain professional venture funds. The proposal applies where a person specified in a relevant regional plan, with a main business office or other office in a National Strategic Special Zone, conducts business in the zone as the implementing entity of a National Strategic Special Zone asset management project. For venture funds for professionals that meet specified conditions and are operated as a special business for qualified institutional investors, etc., the draft would carve out the fund audit obligation currently set out in the Cabinet Office Ordinance on Financial Instruments Business. Comments must be received by 17:00 on 29 March 2026. After the consultation closes, the amendment is scheduled to be promulgated and brought into force following completion of the necessary procedures, including further procedures under the National Strategic Special Zones Act.

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