Financial Services Agency

Year 2000Regulated by Government

The Financial Services Agency (FSA) oversees all financial services providers, including Forex brokers, in Japan. The ultimate aim of Japan's FSA is to maintain the country’s financial system and ensure its stability. It is also responsible for protecting security investors, insurance policyholders, and depositors. It achieves its aims in a number of different ways including planning and policy making, supervising financial services providers, overseeing securities transactions, and inspecting financial institutions in the private sector. When the FSA was first created it was merely an administrative body. However, its responsibilities were widened in 2001 when it became the external representative of the Cabinet Office of Japan. It took over the responsibilities of the Financial Reconstruction Committee, and also took over responsibility for failed financial institutions.Today, the FSA Japan is held accountable to the Japanese Minister of Finance and enjoys a wide scope of responsibility.

Disclose broker

Warning Business adjustment

Saxo

Disclosure summary

Disclosure matching Supervision number matching
Disclosure time 2020-09-18
Reason for punishment An outsourcing company that manages the personal information of our customers has been illegally accessed by a third party, and a large number of personal information (names, dates of birth, addresses, e-mail addresses, etc. of 750 customers) for 38,026 customers Including image data such as identification documents such as driver's licenses, passports, individual number cards, etc.)))), sufficient recurrence prevention measures have not been taken regarding system risk management and outsourcing contractor management.

Disclosure details

Administrative action against Saxo Bank Securities Co., Ltd.

SaxoKanto Local Finance Bureau September 18, 2020 Regarding Administrative Actions against Securities Co., Ltd. 1. Saxo Securities Co., Ltd. (head office: Minato-ku, Tokyo, corporate number 8010401082810) (hereinafter referred to as "our company"), on July 31, 2020, the Financial Instruments and Exchange Law (Law No. 25 of 1948) No. 56 When we requested a report based on the provisions of Article 2, Paragraph 1 and the Act on the Protection of Personal Information (Law No. 57 of 2003), Article 40, Paragraph 1, we found the following facts. An outsourcing company that manages the personal information of our customers has been illegally accessed by a third party, and a large number of personal information (names, dates of birth, addresses, e-mail addresses, etc. of 750 customers) for 38,026 customers Including image data such as identification documents such as driver's licenses, passports, individual number cards, etc.)))), sufficient recurrence prevention measures have not been taken regarding system risk management and outsourcing contractor management. 2. Based on the above, the following administrative actions were taken against the Company today pursuant to the provisions of Article 51 of the Financial Instruments and Exchange Act. [Business Improvement Order] (1) After thoroughly clarifying the incident and conducting a deep analysis of the cause of the incident, the system will be implemented in order to fulfill the obligation to take security control measures for personal information and the obligation to supervise outsourced contractors. Construct a system to ensure proper and reliable business operations with regard to risk management and outsourcing contractor management. (2) Continue to appropriately inform and explain to customers about the incident that occurred this time, and take all possible measures to respond to inquiries from customers. (3) Clarify the location of responsibility for this matter. (4) Regarding (1) to (3) above, we will report in writing by October 19, 2020 (Monday) on the response and implementation status, and for the time being, as needed, on the progress after that. Report in writing.

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Annex

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