The Financial Services Agency of Japan (JFSA) is the regulator responsible for the authorization and supervision of financial institutions, including banks, trust banks, trust companies, funds transfer/settlement-related service providers, insurers, securities firms, investment advisors, asset managers and funds. This responsibility includes seamless off-site and on-site monitoring by the Supervisory Bureau of the JFSA. The JFSA established (i) a dedicated fintech support desk in 2015 to provide a single point of contact for inquiries relating to fintech matters and (ii) a new Financial Markets Entry Office in 2021 to provide global asset managers which wish to enter the Japanese financial markets for the first time with pre-application consultation, registration and supervision services in English. In addition, the Ministry of Economy, Trade and Industry (METI) regulates credit card services in Japan. The JFSA and the METI also supervise financial firms for which they are responsible in terms of anti-money laundering, and they notify the National Public Safety Commission of the National Police Agency if any suspicious information is found.

The Bank of Japan (BOJ) is responsible for the macro supervision of the banking and financial services industries to maintain a safe and sound financial system. The BOJ is not a regulatory authority under the Banking Act, but it does conduct on-site examinations based on bilateral agreements with financial institutions with current accounts with the BOJ under the Bank of Japan Act. The BOJ also conducts examinations of banks’ overseas branches and off-site monitoring of such financial institutions. The BOJ’s on-site examinations and off-site monitoring cover both Japanese financial institutions and foreign banks in Japan.

There are also self-regulatory industry organizations (SROs) for each type of financial institution, such as the Japanese Bankers Association, the Japan Securities Dealers Association, the Japan Payment Service Association, and the Japan Virtual and Crypto Assets Exchange Association, which prepare guidelines to share best practices within the industry. These SRO guidelines are considered quasi-regulations in the industry.