Risks Related to Changes in Laws and Regulations and the Obtaining of Licenses, Approvals and Registrations
First written in FY2017. 4 of 13 entries say "Worsened", first in FY2020. Latest entry: FY2026.
Remixpoint moved to the "Worse" side of this theme in 2020, 1 year after the typical company in this theme (2019).
2 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「In addition, a quantitative supply capacity obligation is scheduled to be imposed in 2030. This will require electricity retailers to secure, using physical power sources, 50% of forecast demand three fiscal years before the actual supply-demand period and 70% one fiscal year before it, suggesting that smaller operators may find it difficult to continue operating.」
Regarding the risk of amendments to laws and regulations and changes in systems, the company identified the quantitative obligation to secure supply capacity scheduled for 2030 as a specific new-system risk, in addition to existing risks concerning licenses, non-fossil certificates and the capacity market. - FY2024ReframedAnnual report
「In addition to the laws and regulations specifically applicable to the businesses conducted by the Group, the Group is subject to various laws and regulations relating to corporate activities, including, but not limited to, laws and regulations concerning consumer protection, privacy protection, respect for human rights, employment, fair competition, intellectual property rights, taxation and the environment.」
The scope of the legal and licensing risks has been organized and expanded from the electricity and financial sectors to corporate activities generally, including consumer protection, human rights, the environment and employment. - FY2022-Q1MitigatedAnnual report
「On 10 May 2021, the company was registered as a Type I Financial Instruments Business Operator under the Financial Instruments and Exchange Act.」
BPJ obtained registration as a Type I Financial Instruments Business Operator. This indicates that some uncertainty concerning licenses and registrations has been reduced. - FY2021WorsenedAnnual report
「In addition to the laws and regulations specifically applicable to the businesses conducted by the Group, the Group is subject to various laws and regulations relating to corporate activities, including, but not limited to, laws and regulations concerning consumer protection, privacy protection, fair competition, employment, intellectual property rights, taxation and the environment.」
In addition to licensing risks in the electricity and financial businesses, the company broadly describes compliance risks arising from regulations covering corporate activities generally, including consumer protection, privacy, fair competition, employment and the environment. - FY2021-Q3WorsenedAnnual report
「Because the products and services handled in the infectious disease control-related business are closely connected with people's health and safety, their advertising and sale may be subject to the Act on Securing Quality, Efficacy and Safety of Pharmaceuticals, Medical Devices, etc. (the PMD Act), related laws and regulations, and advertising regulations.」
In addition to the existing electricity and financial businesses, the company states that the newly developed infectious disease control-related business may also require compliance with the PMD Act, related laws and regulations, and advertising regulations. - FY2020WorsenedAnnual report
「In addition, registration of cryptocurrency custody service providers and other registrations is expected following the enforcement of the amended Payment Services Act in May 2020. Following the enforcement of the amended Financial Instruments and Exchange Act, registration as a Financial Instruments Business Operator is required to handle crypto-asset (cryptocurrency) derivatives trading,」
The company identifies new registration systems and registration obligations for crypto-asset custody and derivatives trading, broadening the scope of its legal and licensing risks. - FY2020-Q2MitigatedAnnual report
「BPJ received a business improvement order from the Kanto Local Finance Bureau dated 22 June 2018 concerning its management control framework and other matters, submitted a business improvement plan dated 23 July 2018, and subsequently reported its status monthly. The reporting obligation was lifted on 28 June 2019.」
The company states that the obligation to continue reporting to the Kanto Local Finance Bureau following the business improvement order was lifted on 28 June 2019. - FY2019RestatedAnnual report
「With respect to スマートフィナンシャル株式会社, the Company will proceed with an application for registration as a Type I Financial Instruments Business Operator.」
The company continues to describe the risk that obtaining licenses and registrations may affect business development, and states that it will proceed with an application for スマートフィナンシャル株式会社, which was newly established, to register as a Type I Financial Instruments Business Operator. - FY2019-Q2RestatedAnnual report
「Under these circumstances, BPJ received a business improvement order from the Kanto Local Finance Bureau dated 22 June 2018 to take the measures necessary for the proper and reliable operation of its cryptocurrency exchange business. BPJ submitted a business improvement plan the following month and has reported its progress and implementation status monthly since September.」
The company continues to describe its response, including the business improvement order, submission of the business improvement plan and monthly reports since September. - FY2018MaterialisedAnnual report
「The Company's subsidiary, 株式会社ビットポイントジャパン, received the following business improvement order from the Director-General of the Kanto Local Finance Bureau on 22 June 2018.」
In connection with the previously stated risks concerning laws, registrations and licenses, BPJ actually received a business improvement order from the Director-General of the Kanto Local Finance Bureau. - FY2018-Q2MitigatedAnnual report
「The company was registered by the Financial Services Agency as a cryptocurrency exchange service provider on 29 September 2017.」
The company disclosed that BPJ was registered on 29 September 2017, reducing the previously stated risk concerning registration as a cryptocurrency exchange service provider. - FY2018-Q1ReframedAnnual report
「The participation of Japanese investors in the cryptocurrency trading market rose sharply following the enforcement on 1 April of the amended Payment Services Act and other cryptocurrency-related laws and regulations, and the exemption from consumption tax on cryptocurrency transfers from 1 July following the amendment of the Order for Enforcement of the Consumption Tax Act, among other developments.」
The description of the regulatory environment has changed to reflect the amendment and enforcement of cryptocurrency-related laws and regulations and the change in the treatment of consumption tax, with BPJ operating as a deemed cryptocurrency business operator under the Payment Services Act. - FY2017First statedAnnual report
「In addition, electricity trading in the energy-related business and the financial-related business are governed by the Electricity Business Act and the Payment Services Act, respectively. Unexpected amendments to laws and regulations, changes in systems, or changes in the interpretation or application of laws and regulations, including such changes, may prevent the Group from conducting its businesses as expected. In addition, if the Group is unable to obtain the licenses, registrations or other approvals required to conduct its businesses, or if such approvals are revoked or otherwise withdrawn, the Group may become unable to conduct those businesses.」
The risks are described that amendments to laws and regulations, changes in systems, and the failure to obtain or the revocation of licenses and registrations may affect the development of the electricity trading and financial businesses.