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FSA Opens Public Comment on Draft Rules for Sustainability Disclosure and Startup Funding

Japan's Financial Services Agency has published draft cabinet orders and ordinances tied to 2026 amendments on sustainability information disclosure and startup funding, open for public comment until December 13.

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Key Points

  • • FSA published draft cabinet orders and ordinances on sustainability disclosure and startup funding rules
  • • Changes stem from 2026 amendments to the Financial Instruments and Exchange Act and Payment Services Act
  • • Public comments are accepted from November 13 to December 13, 2026, 5:00 p.m.
  • • Inquiries can be directed to FSA's Corporate Disclosure Division or Market Division

The Financial Services Agency (FSA) has published draft cabinet orders and cabinet office ordinances related to amendments made in 2026 to the Financial Instruments and Exchange Act and the Payment Services Act, and is inviting public comments on the proposals [1]. The draft rules cover two main areas: the disclosure and assurance of sustainability information by companies, and measures intended to promote the supply of funding to startup companies [1].

According to the notice posted on the government's e-Gov public comment portal, the proposed measures include a cabinet order on arrangements and transitional provisions for enforcing the partial amendments to the Financial Instruments and Exchange Act and the Payment Services Act, along with related draft ordinances [1]. The notice lists an extensive set of legal provisions as the basis for the proposed rules, drawn from multiple articles of the Financial Instruments and Exchange Act and the Act for Establishment of the Cabinet Office [1]. The draft text itself spans 33 attached documents, according to the FSA [1].

The public comment period opened on November 13, 2026, at 5:00 p.m. and will close on December 13, 2026, at 5:00 p.m. [1]. The FSA notes this is a procedure conducted under the Administrative Procedure Act [1]. Members of the public, businesses or organizations wishing to submit opinions are instructed to first review the full comment solicitation guidelines and the complete draft ordinances before submitting feedback, to avoid submission errors [1].

Inquiries about the proposals can be directed to the FSA's main line, with specific questions on corporate disclosure matters routed to the Planning and Markets Bureau's Corporate Disclosure Division, and questions regarding intermediary business for non-listed securities handled by the bureau's Market Division [1].

As this is a draft proposal open for public input rather than a finalized rule, the specific requirements for companies, investors or startups have not yet been confirmed [1]. The sources do not specify how these changes would affect individual foreign residents directly, though those involved in investment, corporate disclosure or startup financing in Japan may wish to review the draft documents or consult the FSA's official announcement for details [1].

Source credit 出典：「令和８年金融商品取引法等改正に係る政令・内閣府令案等の公表について（サステナビリティ情報の開示・保証、スタートアップ企業への資金供給の促進関係）」（e-Govパブリックコメント）（https://public-comment.e-gov.go.jp/servlet/Public?CLASSNAME=PCMMSTDETAIL&id=225026069&Mode=0）、PDL1.0（https://www.digital.go.jp/resources/open_data/public_data_license_v1.0）を加工してJapan News (j.apan.news)が作成 This article is Japan News's own English summary of the Japanese original. It has been translated and edited by Japan News; it is not an official translation, and the e-Gov Public Comment did not write or review it.

Sources

This article was written by AI from these Japanese-language reports. Check them before acting on anything here.

  1. [1] e-Gov — original report (Japanese)

AI-written summary of Japanese reports; not human-reviewed; check the linked sources. How we write articles