NO&T Japan Legal Update
In January 2021, the Financial Services Agency and Local Finance Bureaus (“Japanese Regulators”) established the Financial Market Entry Office to assist foreign financial business operators seeking to register as a financial instruments business in Japan. Before the establishment of the Financial Market Entry Office, foreign financial business operators were required to prepare and file application documents in Japanese to obtain the registration to carry on a financial instruments business. However, a partial amendment to the Cabinet Office Ordinance on Financial Instruments Business, etc. was promulgated and entered into force on January 12, 2021, which allows foreign financial business operators that meet certain requirements to prepare and file application documents in English for registration as a financial instruments business in Japan.