The Japan Financial Services Agency published a draft partial revision to the Comprehensive Supervision Guidelines for Insurance Companies separate booklet covering small and short-term insurance companies and opened it for public comment. The draft is intended to align supervisory expectations with a planned partial amendment, via a Cabinet Office Ordinance, to the Enforcement Regulations of the Insurance Business Act on comparative explanations and recommended sales. The proposed changes draw on recommendations in the Expert Meeting on Structural Issues and Competition in the Non-life Insurance Industry report and the Financial Services Council Working Group on systems for the non-life insurance industry report, and aim to secure appropriate comparison and recommendation practices at multi-tied insurance agencies. A comparison table setting out the specific revisions is provided in an attachment. Comments are due by 17:00 on 19 April 2026 via mail or the e-Gov website. After the public comment process, the FSA plans to promulgate and enforce the revisions following completion of the necessary procedures.
Japan Financial Services Agency 2026-03-19
Japan Financial Services Agency launches consultation on draft revisions to supervision guidelines for small and short-term insurers on comparative explanations and recommended sales
The Japan Financial Services Agency released a draft revision to the Comprehensive Supervision Guidelines for Insurance Companies, focusing on small and short-term insurers, for public comment. It aligns with planned amendments to the Enforcement Regulations of the Insurance Business Act, aiming to enhance practices at multi-tied insurance agencies. The revisions are based on reports from the Expert Meeting on Structural Issues and Competition in the Non-life Insurance Industry and the Financial Services Council Working Group.