The regulation was proposed by Tokyo metropolitan government and it intends to restrict the minor characters appearing in manga, anime, movies, and games. Even if the characters are described as adults in the story, Tokyo will judge whether the characters are considered to be minors based on the appearance, backgrounds, and voices. Those characters are defined as "fictitious juveniles" and Tokyo will restrict the sales of the media if it contains sexual expressions of "fictitious juveniles". Mangaka and their supporters are apprehensive that the interpretation of "sexual expressions" can be expanded limitlessly.
The ordinance will be put to the vote on March 19th.
List of Mangaka who oppose to the regulation (partial)
Sources: Sankei, The Journal, RBB Today
Note: The "fictitious juveniles" are anime/manga/game characters which Tokyo considers to be Under 18 years old.
Source: IT Media
Updated on March 17th
According to Yomiuri news, Democratic Party of Japan, the largest party in Tokyo Metropolitan Assembly, decided to postpone the vote and will continue to discuss the proposal in the next term. Ohta Books announced that they collected 822 signatures of mangaka and manga/anime related people, who object to the ordinance.
Sources: Asahi.com, Ohta Books, Yomiuri