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    JFSA Issues Proposals Related to Financial Instruments Standard

    April 30, 2021

    JFSA proposed draft amendments to the regulatory notice on the "designated International Financial Reporting Standards" stipulated in the "Regulation for Terminology, Forms, and Preparation of Consolidated Financial Statements." The proposal mainly intends to define the international accounting standards that have been published through May 31, 2021, by IASB as "designated international accounting standards" set forth under Article 93 of the Regulation on Consolidated Financial Statements. These standards include IAS 39 and IFRS 9 (old and new standards on financial instruments), IFRS 7 on financial instrument disclosures, IFRS 4 on insurance contracts, and IFRS 16 on leases. The comment period on the draft amendments is open till May 29, 2021.

    Comment Due Date: May 29, 2021

    Keywords: Asia Pacific, Japan, Banking, Insurance, IFRD 9, Financial Instruments, IFRS 7, Disclosures, IFRS 4, Insurance Contracts, JFSA

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