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Japan FSA Updates Cold-Calling Warning List for Unregistered Financial Operators

The Japan FSA (Japan financial regulator) said its March 31 update flags entities allegedly soliciting investors without registration under the Financial Instruments and Exchange Act and impersonating Japanese government agencies.

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Terms & Concepts
  • Cold-calling: A sales practice in which firms contact potential investors unsolicited, often by phone, to market financial products or services.
  • Financial Instruments and Exchange Act: Japan’s main securities law governing financial products, investment solicitation, and registration requirements for market operators.
  • Unregistered operator: A business or individual offering regulated financial services without the required authorization from the relevant regulator.