National Supervisory Authority & Licensing Qualification Dossier • Asia-Pacific
FSA
JapanFinancial Services Agency
Source / Native Reference: 日本金融厅
- Supervisory tier
- Tier-1
- License classes
- 3
- Licensed records
- 213
- Active / regulated
- 137
Statutory Supervisory Mandate & Scope
Federal Financial Supervisory Authority of Germany (BaFin) (BaFin) is the Tier-1 statutory financial markets and securities supervisory authority in Germany. It grants and supervises financial services licences across broker-dealers, investment advisers, asset managers, and market operators, enforcing initial and ongoing prudential capital requirements, segregated client asset rules, market conduct standards, and public register disclosures.
Supervises banks, securities and FX broker-dealers (FIBO), investment managers, insurers, credit rating agencies, Crypto-Asset Exchange Service Providers (CAESPs), and Electronic Payment Instruments (stablecoin) issuers.
Prudential Tier Assessment
Tier-1Ultra-strict G7 integrated financial supervisor enforcing the Financial Instruments and Exchange Act (FIEA) and Payment Services Act (PSA) with zero-loss cold-wallet trust rules.
National licensing qualifications & statutory authorisation classes (FSA)
Authorisation categories, permitted institutional and retail activities, minimum initial capital adequacy, and ongoing prudential solvency rules enforced by FSA in Japan.
| License class / code | Official designation | Permitted institutional & retail activities | Minimum initial / base capital | Ongoing prudential & solvency rule |
|---|---|---|---|---|
| FIEA Type I FIBO (第一種金融商品取引業) | Type I Financial Instruments Business Operator (Securities, Retail FX & Crypto Derivatives) | Brokerage, dealing, market-making, underwriting of liquid securities, retail OTC FX margin trading, and crypto-asset derivatives. | JPY ¥50,000,000 minimum Stated Capital & Net Assets (JPY ¥300M–¥3B for underwriting), plus Capital Adequacy Ratio (自己資本規制比率) strictly ≥ 120% (early warning at 140%). | Strict 25:1 retail FX leverage cap (4% margin), 2:1 retail crypto derivative leverage cap (50% margin), and mandatory FFAJ / JSDA membership. |
| FIEA Type II FIBO & Investment Management | Type II Financial Instruments Business & Discretionary Investment Management | Distribution of collective investment scheme interests, private placements, real estate trust beneficiary rights, and discretionary fund management. | JPY ¥10,000,000 minimum capital (Type II) or JPY ¥50,000,000 minimum capital and net assets (Investment Management Business). | Fiduciary duty, annual Business Report (事業報告書) to the Local Finance Bureau, and strict prohibition on commingling fund assets. |
| PSA CAESP (暗号資産交換業者) | Registered Crypto-Asset Exchange Service Provider | Spot exchange, brokerage, and custody of crypto-assets for Japanese residents. | JPY ¥10,000,000 minimum Stated Capital plus positive Net Assets and JVCEA self-regulatory membership. | 95% cold wallet isolation, annual audit of segregated crypto-assets and fiat trusts by a Japanese CPA firm, and JVCEA pre-screening of new token listings. |
Investor compensation, client money segregation & digital-asset regime
Statutory counterparty protections, custody reconciliation mandates, and virtual-asset licensing status under FSA.
Japan Investor Protection Fund (JIPF) & Deposit Insurance Corporation of Japan (DICJ)
- Maximum coverage per client
- JPY ¥10,000,000 per retail client via JIPF (for Type I securities firms); JPY ¥10,000,000 + interest per depositor via DICJ for Japanese banks
- Eligible counterparties & scope
- Individual and non-institutional clients of Type I FIBOs (additionally, 100% of retail FX margin and 95%+ of customer crypto-assets are held in bankruptcy-remote Trust Banks).
FIEA Article 43-2 & Article 43-3 (Mandatory Trust Bank Segregation — 信託保全)
- Reconciliation & audit cadence
- Daily calculation of Required Segregated Amount (区分管理必要額) reconciled within 2 business days into a licensed Japanese Trust Bank.
- Approved custodian requirements
- 100% of retail FX/CFD customer margin must be placed in a money trust with a licensed Japanese Trust Bank (e.g., Mitsubishi UFJ Trust, Sumitomo Mitsui Trust, Nomura Trust).
PSA Crypto-Asset Exchange Service Provider (CAESP), FIEA Crypto Derivatives & PSA Electronic Payment Instruments (Stablecoins)
- Travel Rule, custody & stablecoin rules
- 95% minimum cold-wallet storage mandate; any 5% hot-wallet exposure must be backed 1:1 by same-kind proprietary crypto held as a Performance Guarantee Asset (履行保証暗号資産); full APTCP Travel Rule enforcement.
Primary Governing Statutes & Rulebooks
- Financial Instruments and Exchange Act (FIEA — Act No. 25 of 1948)
- Payment Services Act of Japan (PSA — Act No. 59 of 2009, amended 2023 for Stablecoins)
- Act on Prevention of Transfer of Criminal Proceeds (APTCP — AML/KYC)
- Cabinet Office Ordinance on Financial Instruments Business & FFAJ / JVCEA Self-Regulatory Rules
Regulatory Reporting & Audit Obligations
Monthly Capital Adequacy Ratio (CAR) filings to the Kanto/Local Finance Bureau and public quarterly CAR disclosureAnnual financial statement audit and separate Segregated Client Asset Audit (分別管理監査) by a Japanese Certified Public AccountantMandatory affiliation with FINMAC (Financial Instruments Mediation Assistance Center) for ADR dispute resolution
Cross-Border Equivalence & Passporting
Strict territoriality under FIEA Article 61: foreign unregistered brokers and crypto exchanges are strictly prohibited from soliciting Japanese residents without local Type I FIBO / CAESP registration.
Supervised institutions & FSA licence records in our database
213 licence records referencing FSA (137 regulated/registered, 6 flagged with warnings/revocations).
| Institution | Licence number | Status | Licensed legal entity | Effective date | Verification |
|---|---|---|---|---|---|
| MUFG Bank | Number pending check | Regulated | MUFG Bank | — | |
| Nordea | FT00106317 | Regulated | NORDEA BANK DANMARK A/S | 2016-01-01 | |
| 18shinwabank | 1310001005552 | Regulated | THE JUHACHI-SHINWA BANK, LTD. | — | |
| Akita Bank | 1410001000221 | Regulated | THE AKITA BANK , LTD. | — | |
| Bank of Nagoya | 8180001036398 | Regulated | The Bank of Nagoya , Ltd. | — | |
| Bank of The Ryukyus | 6360001000404 | Regulated | Bank of The Ryukyus , Limited. | — | |
| Chiba Bank | 2040001000019 | Regulated | The Chiba Bank , Ltd. | — | |
| FUKUOKA BANK | 1290001004367 | Regulated | THE BANK OF FUKUOKA , LTD. | — | |
| Gunma Bank | 3070001003513 | Regulated | The Gunma Bank , Ltd. | — | |
| HIGOBANK | 2330001001532 | Regulated | The Higo Bank , Ltd. | — | |
| Hiroshima Bank | 5240001012809 | Regulated | The Hiroshima Bank , Ltd. | — | |
| Hokuriku Bank | 1230001002946 | Regulated | The Hokuriku Bank , Ltd. | — | |
| Ikeda Senshu Bank | 8120001144082 | Regulated | The Senshu Ikeda Bank, Ltd. | — | |
| Kyoto Bank | 9130001000028 | Regulated | The Bank of Kyoto , Ltd | — | |
| Mizuho Bank | 6010001008845 | Regulated | Mizuho Bank,Ltd. | -- | |
| MUTB BANK | 6010001008770 | Regulated | Mitsubishi UFJ Trust and Banking Corporation | -- | |
| Nishitetsu City Bank | 4290001107472 | Regulated | Nishitetsu Asset Management Co.,Ltd | — | |
| oitabank | 7320001000084 | Regulated | THE OITA BANK , LTD. | — | |
| Rakuten Bank | 5010701022527 | Regulated | Rakuten Bank,Ltd. | — | |
| Saitama Resona Bank | 8030001009848 | Regulated | Saitama Resona Bank,Limited | — | |
| San-in Godo Bank | 6280001000230 | Regulated | The San-in Godo Bank , Ltd. | — | |
| SBI Shinsei Bank | 7010001016855 | Regulated | SBI Shinsei Bank,Ltd. | — | |
| Shizuoka Bank | 5080001002669 | Regulated | THE SHIZUOKA BANK , LTD. | — | |
| SMBC | 5010001008813 | Regulated | Sumitomo Mitsui Banking Corporation | — | |
| Sony Bank | 4010401053410 | Regulated | Sony Financial Holdings Inc | — | |
| The Akita Bank | 7340001000826 | Regulated | THE KAGOSHIMA BANK , LTD. | — | |
| The Aomori Bank | 3420001000012 | Regulated | Aomori Michinoku Bank , Ltd. | — | |
| The Bank of Kochi | 4490001000608 | Regulated | THE BANK OF KOCHI , LTD. | — | |
| The Bank of Okinawa | 4360001000406 | Regulated | The Bank of Okinawa , Ltd. | — | |
| The Hokkaido Bank | 3430001022658 | Regulated | The Hokkaido Bank , Ltd. | — | |
| TOHOKU BANK | 7400001001891 | Regulated | THE TOHOKU BANK , LTD. | — | |
| Tomato Bank | 7260001006096 | Regulated | TOMATO BANK , LTD. | — | |
| Tottori Bank | 2270001000870 | Regulated | THE TOTTORI BANK , LTD. | — | |
| YOKOHAMA SPECIE BANK | 7020001008645 | Regulated | The Bank of Yokohama , Ltd. | — | |
| Binance(Global network record) | Kanto Local Finance Bureau 00031 | Regulated | Binance Japan Inc. | 2023 | |
| OKX(Global network record) | Number pending check | Regulated | Aux Cayes Fintech Co Ltd | — | |
| AvaTrade(Global network record) | Kanto Local Finance Bureau (FIBO) No. 1662 | Regulated | AVA Trade EU Ltd. | 2007-09-30 | |
| eToro(Global network record) | SD076 | Regulated | eToro (Seychelles) Ltd | — | |
| FXGlobe(Global network record) | FT00080018 | Regulated | FXGLOBE LTD | 2013-12-16 | |
| Saxo(Global network record) | Kanto Local Finance Bureau (FIBO) No. 239 | Regulated | Saxo Bank Securities Ltd. | 2007-09-30 | |
| Doo Prime(Global network record) | SD090 | Regulated | Doo Prime (Seychelles) Limited | 2021-11-03 | |
| Mizuho Securities(Global network record) | 7010001008687 | Revoked | — | 2007-09-30 | |
| Admiral Markets(Global network record) | SD073 | Offshore | Admirals SC Ltd | — | |
| GLOBAL(Global network record) | SD 192 | Regulated | B2B Prime Services SC Ltd | 2024 | |
| Hash(Global network record) | 3010401136678 | Regulated | Tokyo Hash Co., Ltd. | — | |
| OANDA(Global network record) | Kanto Local Finance Bureau (FIBO) No. 2137 | Regulated | OANDA Japan Inc | 2009-03-02 | |
| Okcoin(Global network record) | Kanto Local Finance Bureau No. 20 | Regulated | Okcoin | 2020-03-30 | |
| Plus500(Global network record) | Kanto Local Finance Bureau (FIBO) No. 156 | Regulated | Plus500 | 2007-09-30 | |
| ThinkMarkets(Global network record) | Kanto Local Finance Bureau (FIBO) No. 250 | Regulated | TF GLOBAL MARKETS (AUST) PTY LTD | 2007-09-30 | |
| ThinkMarkets(Global network record) | SD060 | Offshore | TF Global Markets Int Ltd | — | |
| AETOS(Global network record) | SD206 | Regulated | AETOS Markets (Seychelles) Ltd | — | |
| AVA(Global network record) | 2010401081157 | Regulated | Ava Trade Japan K.K. | — | |
| capital.com(Global network record) | SD101 | Offshore | Capital Com Stock and CFD Investing Ltd | — | |
| easyMarkets(Global network record) | SD056 | Offshore | EF Worldwide Ltd | — | |
| EC Markets(Global network record) | SD009 | Offshore | EC Markets Limited | — | |
| Equiti(Global network record) | SD064 | Offshore | Equiti Brokerage (Seychelles) Limited | -- | |
| Exness(Global network record) | SD025 | Offshore | Exness (SC) Ltd | — | |
| Forex(Global network record) | Kanto Local Finance Bureau (FIBO) No. 291 | Regulated | GAIN Global Markets, Inc. | 2007-09-30 | |
| IB(Global network record) | Kanto Local Finance Bureau (FIBO) No. 187 | Regulated | Interactive Brokers Hong Kong Limited | 2007-09-30 | |
| Trade Nation(Global network record) | SD150 | Regulated | TRADE NATION FINANCIAL MARKETS LIMITED | — | |
| Viverno(Global network record) | SD047 | Regulated | BDS Ltd | — | |
| bitFlyer(Global network record) | 00003 | Regulated | bitFlyer, Inc. | 2017 | |
| GVD Markets(Global network record) | SD210 | Regulated | GVD Prime Capital Limited | — | |
| Hantec Markets Australia(Global network record) | SD164 | Regulated | Hantec (Seychelles) Services Limited | — | |
| HFM(Global network record) | SD015 | Offshore | HF Markets (Seychelles) Ltd | -- | |
| Squared Financial(Global network record) | SD024 | Offshore | Squared Financial (Seychelles) Ltd | — | |
| Tickmill(Global network record) | SD008 | Regulated | Tickmill Ltd | — | |
| Windsor Brokers(Global network record) | SD072 | Offshore | Windsor Brokers International Ltd | — | |
| WisunoFX(Global network record) | SD178 | Offshore | WISUNO LIMITED | — | |
| Alvexo(Global network record) | SD030 | Offshore | HSN Capital Group Ltd | — | |
| Axion(Global network record) | SD175 | Offshore | Axion Trade Limited | — | |
| CFI International Ltd(Global network record) | SD107 | Regulated | Credit Financier Invest International Limited | — | |
| Dukascopy Bank(Global network record) | Kanto Local Finance Bureau (FIBO) No. 2408 | Regulated | Dukascopy Japan K.K. | 2010-06-08 | |
| FMGP(Global network record) | SD096 | Offshore | Fusion Markets International Ltd | — | |
| FXGT.com(Global network record) | SD019 | Regulated | GT Global Ltd | — | |
| FXORO(Global network record) | SD046 | Regulated | ORO FINTECH LIMITED | — | |
| Global Prime(Global network record) | SD057 | Offshore | Global Prime FX Ltd | 2017-01-27 | |
| GO MARKETS(Global network record) | SD043 | Offshore | Go Markets International Ltd | — | |
| Interstellar Group(Global network record) | SD127 | Regulated | First Interstellar Global Ltd | 2022-08-08 | |
| M4Markets(Global network record) | SD035 | Regulated | Trinota Markets (Global) Limited | — |
FSA (Japan): institutional licensing & due diligence FAQ
Key statutory capital, compensation, custody segregation, and verification answers for compliance teams.
What are the primary licensing classes and minimum capital requirements under FSA (Japan)?
FSA (Financial Services Agency) supervises financial institutions in Japan under Financial Instruments and Exchange Act (FIEA — Act No. 25 of 1948) and Payment Services Act of Japan (PSA — Act No. 59 of 2009, amended 2023 for Stablecoins). Key statutory authorisation classes include: FIEA Type I FIBO (第一種金融商品取引業) (Type I Financial Instruments Business Operator (Securities, Retail FX & Crypto Derivatives) — min. capital: JPY ¥50,000,000 minimum Stated Capital & Net Assets (JPY ¥300M–¥3B for underwriting), plus Capital Adequacy Ratio (自己資本規制比率) strictly ≥ 120% (early warning at 140%).); FIEA Type II FIBO & Investment Management (Type II Financial Instruments Business & Discretionary Investment Management — min. capital: JPY ¥10,000,000 minimum capital (Type II) or JPY ¥50,000,000 minimum capital and net assets (Investment Management Business).); PSA CAESP (暗号資産交換業者) (Registered Crypto-Asset Exchange Service Provider — min. capital: JPY ¥10,000,000 minimum Stated Capital plus positive Net Assets and JVCEA self-regulatory membership.). Ongoing prudential supervision requires strict adherence to capital adequacy and liquidity buffers.
Does FSA provide statutory investor compensation and mandatory client asset segregation?
Under FSA's framework, investor protection is governed by Japan Investor Protection Fund (JIPF) & Deposit Insurance Corporation of Japan (DICJ) with maximum coverage of JPY ¥10,000,000 per retail client via JIPF (for Type I securities firms); JPY ¥10,000,000 + interest per depositor via DICJ for Japanese banks (Individual and non-institutional clients of Type I FIBOs (additionally, 100% of retail FX margin and 95%+ of customer crypto-assets are held in bankruptcy-remote Trust Banks).). For client money and custody assets, supervised firms must comply with FIEA Article 43-2 & Article 43-3 (Mandatory Trust Bank Segregation — 信託保全), performing daily calculation of required segregated amount (区分管理必要額) reconciled within 2 business days into a licensed japanese trust bank. with 100% of retail fx/cfd customer margin must be placed in a money trust with a licensed japanese trust bank (e.g., mitsubishi ufj trust, sumitomo mitsui trust, nomura trust)..
How does FSA regulate digital assets, crypto exchanges (VASPs/CASPs), and stablecoins?
FSA's digital-asset regime is structured around PSA Crypto-Asset Exchange Service Provider (CAESP), FIEA Crypto Derivatives & PSA Electronic Payment Instruments (Stablecoins) (Gold-standard statutory framework: CAESPs regulated since 2017; fiat-pegged stablecoins restricted to Banks, Trust Companies, and Fund Transfer Service Providers.). Custody and AML/CFT compliance obligations require: 95% minimum cold-wallet storage mandate; any 5% hot-wallet exposure must be backed 1:1 by same-kind proprietary crypto held as a Performance Guarantee Asset (履行保証暗号資産); full APTCP Travel Rule enforcement.
How can I verify an institution's FSA licence number and check our 213 recorded licence entries?
Our database currently tracks 213 licence records referencing FSA (137 marked regulated or registered). To verify a counterparty at the primary source, open FSA's official public register (https://www.fsa.go.jp/en/index.html), search by the exact reference number and legal entity name, and confirm that the firm's domain and permitted activities match its statutory authorisation.
Related regulatory & market structure briefings
Research and compliance analysis from FinLexicon Wiki relevant to FSA and Japan.
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ISDA & Counterparty Credit Lexicon
Expanded Risk-Based Approach (ERBA) Basel III Endgame Standard: Clearinghouse Default Waterfall & Margin Segregation Rules (-4.8% Cat I/II CET1 Change Benchmark)
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Statutory licensing classes, base capital rules, and investor protection summaries for FSA (Japan) are maintained for institutional benchmarking and do not constitute legal advice. Always verify current rulebooks and active firm authorisations directly on FSA’s official public register.