FSA

FSA (​Financial Supervisory Authority of Norway) 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.

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)..

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.

Our database currently tracks 94 licence records referencing FSA (91 marked regulated or registered). To verify a counterparty at the primary source, open FSA's official public register (https://www.finanstilsynet.no/en/finanstilsynets-registry/), search by the exact reference number and legal entity name, and confirm that the firm's domain and permitted activities match its statutory authorisation.