Regulatory Alerts2022-12-14
Guideline for Supervision of Issuers of Prepaid Payment Instruments
The Japanese financial regulator issues these guidelines to define the scope of prepaid payment instruments under the Payment Services Act and establish supervisory standards for their issuers. The document mandates strict compliance with legal frameworks, robust user protection measures, and rigorous administrative operations including IT system management and risk controls. It further details specific inspection procedures, reporting requirements for unused balances, and protocols for handling business succession and cross-border transactions.
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