Deeper understanding leads to better outcomes
Disclosures
1. Sumitomo Mitsui Banking Corporation (“SMBC”) in the U.S.
SMBC is a foreign banking organization incorporated under the laws of Japan. SMBC maintains state-licensed branches in New York, New York; Los Angeles, California; and San Francisco, California; and representative offices in Chicago, Illinois; Dallas, Texas, Houston, Texas; Menlo Park, California; and White Plains, New York. SMBC is supervised by the states in which it maintains branches and representative offices, the Board of Governors of the Federal Reserve System, and the Financial Services Agency of Japan.
SMBC does not accept deposits from the general public. SMBC is not a member of the Federal Deposit Insurance Corporation (“FDIC”), and deposits placed with SMBC are not insured by the FDIC.
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT OR ESTABLISHING A NEW CUSTOMER RELATIONSHIP
To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person, including any legal entity, that opens an account or establishes a customer relationship. Federal law also requires all financial institutions to obtain, verify, and record information that identifies the beneficial owners of a legal entity that opens an account or establishes a customer relationship.
What this means for you: When you enter into a new customer relationship with SMBC, SMBC will ask for your name, address, date of birth, and other identification information. When you enter into a new customer relationship with SMBC on behalf of a legal entity, SMBC will ask for the legal entity’s name, address, and taxpayer identification number, and may ask for certified articles of incorporation and other identifying documents of the legal entity. SMBC will also ask for the names, addresses, dates of birth, and other identification information of the beneficial owners of the legal entity, and may ask for other identifying documents of such beneficial owners. This information will be used to verify the identity of the legal entity and its beneficial owners. If required information or documentation is not provided, SMBC may be unable to open an account or establish a relationship.
USA PATRIOT ACT CERTIFICATION
Pursuant to the Sections 5318(j) and 5318(k) of Title 31 of the United States Code, as added by sections 313 and 319(b) of the USA Patriot Act of 2001, SMBC has posted a Global Certification for use by any financial institution that requires a Patriot Act Certification from any SMBC office or branch. Please use this Global Certification in place of requesting individual SMBC offices or branches to provide a separate certification.
Global USA Patriot Act Certification | Sumitomo Mitsui Banking Corporation (smbc.co.jp)
Notice to all customers regarding the Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006
The Unlawful Internet Gambling Act (UIGEA) of 2006 prohibits the U.S. branches of Sumitomo Mitsui Banking Corporation (SMBC) from processing restricted transactions through your business account. Restricted transactions are transactions in which a person accepts credit, funds, instruments or other proceeds from another person in connection with unlawful Internet gambling.
The UIGEA, prohibits any person engaged in the business of betting or wagering (as defined in the Act) from knowingly accepting payments in connection with the participation of another person in unlawful Internet gambling. The United States Department of the Treasury and the Federal Reserve Board has issued a joint final rule, Regulation GG, to implement this Act.
As defined in Regulation GG, unlawful Internet gambling means to “place, receive or otherwise knowingly transmit a bet or wager by any means which involves the use, at least in part, of the Internet where such bet or wager is unlawful under any applicable federal or state law in the State or Tribal lands in which the bet or wager is initiated, received or otherwise made.”
As a customer of SMBC, these restricted transactions are prohibited from being processed through your account or banking relationship with us. If you do engage in an Internet gambling business and open a new account with us, we will ask that you provide evidence of your legal capacity to do so.
FOREIGN EXCHANGE TRANSACTIONS
This disclosure applies only to Sumitomo Mitsui Banking Corporation New York Branch.
1. Compliance with laws, regulatory requirements, and market practice
Sumitomo Mitsui Banking Corporation (hereafter “The Bank’’) will comply with applicable domestic and overseas laws and regulations, market standards to be complied with, and proper market practices when entering into Foreign Exchange (FX) transactions.
2. Roles and capacities of the Bank: Acting as Principal
The Bank engages in FX transactions with customers as an at-risk principal, on an arm’s length basis, for its own account. A principal is a type of market participant who acts on its own behalf as counterparty to its customer. Hence, prices offered by the Bank to a customer and the executed price based on an agreement between that customer and the Bank will be solely applied to a specific transaction based on that agreement. The Bank does not act as broker, agent, fiduciary, advisor, or in any similar capacity on behalf of customers in connection with FX transactions. Statements made to customers should not be construed as recommendations or advice as the customer’s advisor.
Our receipt of an order from a customer or any indication by us that we are working an order does not create a contract between us and a customer. No transaction or other contract will result from an order until and unless we respond to the customer that we have filled or executed against some or all of the order, at which point the customer will assume the risks associated with the filled or executed order, including market risk and credit risk.
We may look for market opportunities that both satisfies the terms of a customer’s order and allows us to make an appropriate return on the transaction, including while executing other transactions to satisfy our own, competing trading interests and responding to competing orders from other counterparties. As such, except to the extent that we have agreed to different terms of execution with a customer, we will exercise our reasonable discretion in entering into a transaction with a customer based on its order, including with respect to fill quantity, execution time, prioritization, and whether to pre-hedge or enter into such transaction electronically, manually, on aggregated basis with other orders or using internal or external sources of liquidity. Due to FX transactions with customers, the Bank will hold FX positions and from time to time execute a hedge transaction(s) in the FX market to cover and control the risks arising from these transactions with the customers.
Also, the Bank may decide to enter into pre-hedge transactions in a manner the Bank deems proper at its discretion in order to effectively execute the customers’ orders and/or to manage the Bank’s own risks. In addition, the Bank may enter into a full-hedge transaction(s) for a certain customer’s order(s) depending on currency pairs and transaction types. Aforementioned risk hedge related transactions will be carried out by the traders who are duly authorized to execute at the Bank’s discretion.
In general, the execution price applied to a certain transaction with a customer may not be identical to the price at which the Bank executes to cover its position in the FX market. This difference is due to the fact that the Bank has no assurance to be able to execute the cover trade at the same price and/or amount in the FX market.
In addition to the cover transactions that the Bank will execute to control the risk exposure, the Bank will also conduct proprietary trading for its own account. This proprietary trading will be carried out by the duly authorized traders according to the Bank’s risk control guidelines.
3. Information services
The Bank may provide market forecast reports to its customers as part of research services for discussion purposes only. Such reports will be prepared based on information that the Bank determines credible, but it will not guarantee the accuracy and completeness of that information. The forecast and outlook therein just indicate the Bank’s views at that timing, and could be altered without any notice. The view and outlook for the FX market should be determined by each customer at its own responsibility.
Further, the Bank, as one of the market participants, may conduct its own FX trading based on a different market view from that of those expressed in such publicized reports.
4. Factors relating to the price
The executable prices offered by the Bank will be determined based on actual market price as determined by the Bank in its commercially reasonable discretion, which depending on the circumstances may be a bid, offer, mid-market, market-on-close, last-traded, or other price, as well as various factors. Descriptions of the factors relating to the prices on typical transactions are as follows:
(i) Actual market rate based transaction
This rate may take into account (but is not limited to) the following factors:
- Product type and market in which the transaction would occur, such as: (i) the trading venue; (ii) the type of order; (iii) the size and direction of the transaction; (iv) market conditions, including market events, the extent and pace of price changes and time of execution; (v) transparency of the market, including actionable and visible liquidity, trading volume and available external venues or platforms; and (vi) the accessibility of third-party quotations and other pricing information;
- Internal costs, such as hedging costs, funding costs, fees, capital costs and overhead;
- Customer- and transaction-specific factors, such as: (i) the volume, types, size, frequency or speed of trading; (ii) the potential market impact of the customer’s trading activity; (iii) the customer’s credit quality and the Bank’s credit exposure to the customer; (iv) specific terms of the transaction or governing documentation; and (v) the extent and nature of the customer’s business relationship(s) with the Bank; and
- Applicable legal or regulatory requirements.
The relevant impact of each individual factor on the price of a transaction will differ depending upon the specific circumstances of that transaction. As a result, the Bank may quote different prices to different counterparties or at different times for the same or substantially similar type of transaction.
(ii) Telegraphic Transfer Middle Rate (the “TTM”) based transaction
In Japan, the Bank may provide offers based on the “TTM”.
The TTM will be the actual market rate as determined by the Bank at approximately 9:55 AM Tokyo time each business day. The Bank also determine buying/selling rate (TTB/TTS), by adding a spread applied to respective currency. The spread is determined based on costs incurred in relation to the transaction (such as one for position management) and fee.1
Further, the Bank may provide certain favorable treatments applicable to certain specific customers based on certain factors such as the volumes of transactions and type of services. The Bank will transact with customers after the applicable rates are respectively specified and are agreed, but in general, such favorable treatment (if applicable) and other factors relating to the prices will not be disclosed to the customers at each time of transaction.
For pricing derivative products such as FX derivatives or currency swaps, the Bank will take into consideration various risks associated with each transaction in addition to the costs to execute the transaction.
In the case where a customer requests the Bank enter into an FX transaction at a reference price provide by any third-party, the Bank will enter into such a transaction only when the Bank determines it to be acceptable. In such a case, the Bank will manage the applicable transaction in an appropriate manner.
5. Risk factors
FX transactions involve the following risks. Other products such as foreign currency deposits or loans and other products or services that have FX exposure will also contain such risks.
(i) Price change risk (market risk)
The FX market is comprised of a variety of market participants using various venues and mediums such as dealing via phone or electronic brokering systems on a bilateral and “off and on” basis. Consequently, the price determination process in the FX market is different from exchanges which are subject to disclosure requirements and other rules.
The executable rate fluctuates constantly depending on various factors such as currency pairs, time zones and market liquidity which can affect the number of participants and transaction volume at any given time. The market rate can also change significantly within a short timeframe due to events such as changes in monetary policies or occurrences of geopolitical events.
The Bank will proceed to manage and mitigate the above-mentioned risks arising from FX transactions with customers upon the execution of the trade or in certain circumstances even before the execution. Therefore, in general, customers will not be able to change or cancel the FX transaction (including similar market products) offered by the Bank after acceptance. Should the Bank agree to change or cancel the transaction upon request from the customer, the Bank may charge to the customer fees and costs, including, but not limited to commissions, reconstruction costs, settlement costs, and any other damages incurred by the Bank as a result of the cancellation. Please refer to the terms and conditions, agreements, or any other documents (if any) for further details.
(ii) Other risks
FX settlements between the customers and the Bank can be disrupted if the credibility of the Bank or the Bank’s nostro agent bank deteriorates, or the Bank or its nostro agent bank goes bankrupt or insolvent. The settlements can also be disrupted if the Bank’s settlement system has technical issues. Such disruption can also be caused by system errors or failures by the FX settlement facilities or financial institutions that are participants of FX settlement facilities.
Currency control and/or restrictions imposed by governments and/or the relevant central banks may also impact customers’ FX transactions and settlements therefor.
6. Execution of orders
The Bank will quote the executable rate upon receipt of an order from the customer. The rate will be offered based on the actual market rate determined by the Bank, with due consideration of the management of any associated risks when executing the transaction.
The Bank, depending on the type of transaction, will decide whether to enter into the transaction or not based on the tradable amount limits predetermined by the Bank per each customer. The bank controls the tradable amount limits based on each transaction amount, term, and currency, etc. and such limits are reviewed from time to time based on the usage record and the credit condition of the respective customer. The Bank may decline to enter into the transaction if the applicable tradable amount limit will be exceeded by accepting the order. The Bank may also decline to enter into the transaction due to the market conditions without regard to the tradable amount limits.
The Bank will manage the limit price orders in accordance with the execution procedures pre-agreed with the customers. However, the Bank may not execute the order if the Bank determines that actual market rate has not reached the limit price designated by the customer.
Additionally, since the Bank holds various orders from multiple customers, the sequence of executed orders may not be the sequence of orders received from the customers. Even in the case whereby there are multiple identical orders in regard to currency pair, buy/sell instruction and rate, some of the orders may not be executed. Such decisions will be made by the duly authorized traders in a reasonable manner as determined by the Bank, based on information sources that the Bank deems credible, the Bank’s execution experiences, market liquidity, and traders’ positioning, among others.
The Bank carries out various market transactions for the purpose of risk management and proprietary trading, and including pre-hedging. This may result in the Bank executing its own trade near or at the prices triggering the customers’ stop-loss orders. In that case, such Bank’s transaction(s) may influence the rate referenced in the customer’s order and can trigger the customer’s stop loss order as a result. Also, in executing an order by a customer, the Bank may aggregate the order with orders by other customers and the Bank’s orders.
The Bank has the final and absolute authority in regard to the setting of the transaction amount limit, and the manner of execution, including the decision whether to enter into the transaction or not and the method and timing of execution, and as stated such authority will be exercised in a fair and reasonable manner. The Bank will not disclose the details of the exercise of such authority to any customer individually.
The Bank may provide the customers with the specific order execution services utilizing an algorithm, and in such cases the Bank will make efforts to disclose and explain to the customers the terms and conditions of such services appropriately. Where the Bank receives or executes a customer’s order through electronic infrastructure, such infrastructure may record the date and approximate time of the receipt of, or execution against, respectively, such order. These records are subject to the impact of latencies, including operational latencies or other latencies that may be inherent in, or result from, the messaging or communication channel through which orders are delivered to, or received by, us.
7. Electronic trading platform
The Bank provides FX trading via electronic platform services via the Internet or a dedicated circuit to corporate customers. Such services may include any single dealer platform operated by the Bank as well as multi-bank platforms operated by third parties. Please refer to the applicable terms and conditions for such services for further details.
In regard to an electronic trade, if an electronic message offering a transaction by a customer is not received by the Bank’s system by the prescribed cutoff time, there will be no transaction regardless of the reasons for the non-receipt. If an electronic message offering a transaction by a customer is received by the Bank’s system by the cutoff time, the Bank will decide whether to execute the transaction pursuant to the Bank’s internal procedures within the prescribed time limit. Even where the Bank has indicated that a quote on the electronic trading system is tradable and has received from the customer via the platform confirmation of the customer’s intent to enter into a transaction at such rate, the Bank may decide that such a transaction is not executable. In such case, the Bank will notify the customer of such non-execution of the transaction.
In addition, where the market price for a transaction is at a level beyond a customer-specific threshold applied by the Bank’s trade acceptance logic after receipt of a customer’s request to trade, the Bank will reject the trade request pursuant to its “last look” policies. The Bank generally apply this last look price check symmetrically, in which case it will reject the trade regardless of whether the market price has moved against the Bank or against the customer. Last look allows the Bank to manage its execution risk without downgrading the quality of spreads and liquidity it offers to customers. In the absence of last look, the Bank would potentially have to protect itself by providing less depth of liquidity and wider spreads to counterparties using electronic trading platforms.
The Bank employs last look for the following primary reasons:
- The Bank indicates prices to a broad customer base. Those indicative prices are based on, among other considerations, the Bank’s inventory and risk profile. Last look is in place in order to ensure that the Bank can manage our position and risk profile.
- Communication latencies can cause requests to trade and indicative quotes to become stale. Additionally, some market data is not updated continuously in real time.
- The Bank checks the credit status of its customers and its credit exposure to the customer, which may change in real time.
- The Bank undertakes other customer-based checks, such as customer authorization to engage in a particular transaction, to fulfill our risk management objectives and regulatory obligations.
- Along with risk management, regulatory, and staleness checks, the Bank performs a price check.
The Bank generally applies last look immediately upon, and in some cases after a brief time delay following, receipt of a customer’s order, although the application of last look may vary across different platforms. The Bank may take into consideration a variety of factors in setting last-look parameters, including: product type and platform on which the transaction would occur; the customer’s historical trading characteristics and preferences; and the extent and nature of a customer’s business relationship(s) with the Bank. While a customer’s trade request is pending, subject to completion of last look, The Bank does not engage in any trading activity on the basis of that specific trade request or utilize that information for the purposes of adjusting its pricing.
Notwithstanding the provisions of Clause 4 above, the quotes indicated via platform by the Bank may be formulated based on quotes provided by multiple reliable liquidity providers. The Bank will not disclose the identity of each liquidity provider who provides the Bank with the market rates.
For your information, in addition to the risks stated in Clause 5 above, the transactions using the electronic trading platform of the Bank or a third party may be subject to a delay of notice of the receipt of the order or the notice of the execution or non-execution of the transaction attributable to the third party’s system or the circuit conditions.
Where the Bank provides specific order execution services utilizing an algorithm, the pricing, speed and likelihood of executing an order using such electronic execution algorithms can vary depending on the particular algorithm’s parameters.
Prior to using an electronic execution algorithm, a customer should independently assess the suitability of the algorithm and any associated parameters for its needs based on all information available to the customer and its advisers.
By using an electronic execution algorithm, a customer assumes the risks generally associated with algorithmic execution and strategies, including, but not limited to: that market conditions may prevent the algorithm from functioning in accordance with its strategy, parameters, risk controls or the customer’s expectations; the potential vulnerability of algorithmic order execution to the conduct of other market participants trading on the platforms where the algorithm sources liquidity; and technological or operational delay, failure or malfunction at any level or from any source (including, but not limited to, external platforms, the customer’s trading connection or interface, our interfaces, systems or network) that directly or indirectly impact the functioning of the algorithm.
As a result of delays in the dissemination of price updates, market infrastructure, communication and internal processing latencies, short-lived trading discrepancies may exist between the externally sourced prices utilized by the Bank’s algorithms and current pricing on the relevant external platforms.
The Bank’s selection of a platform or other liquidity source for an algorithm or routing prioritization may present certain conflicts of interest. Specifically, algorithms may be designed to access both external and internal sources of liquidity. The Bank may derive additional benefits from that activity, including, among others, reduced transaction costs when we use internal liquidity and ownership or other economic interest (such as the right to receive payments or other fees or revenue sharing) in an external venue or platform where we trade to pre-hedge or pre-position against a counterparty’s order (including trades involving such counterparty’s use of one of our electronic execution algorithms). It is our policy to conduct this activity in a manner designed to avoid disadvantaging such counterparty. All compensation or other economic interests resulting from such arrangements will accrue to the Bank’s account and not the counterparty’s account.
8. Conflict of interest management and other governance systems
The Bank will follow its conflict of interest management policy, when entering into FX transaction with customers. The Bank’s conflict of interest management policy is available at the Bank’s website.
Outline of the Bank’s Conflict of Interest Policy
The Bank has adopted the following control systems in order to manage risks (including conflict of interest) for the FX transactions.
(i)Training of the duly authorized traders dealing with the FX transactions
The Bank provides adequate training to both traders and other employee participating in FX transactions. The training covers relevant laws and regulations, compliance as well as the code of conduct including the conflict of interest management.
(ii) Monitoring by the risk management department and the audit department
The Bank’s risk management department properly monitors the transactions to prevent inappropriate market transactions. The independent audit department also performs internal audit reviews to establish appropriate governance system on a periodic basis.
(iii) Management of transaction information
The Bank takes all necessary measures to adequately manage the customers’ transaction information. If the transaction information includes the confidential information, the Bank will take care of such information pursuant to the applicable information control system such as the limited sharing of the information to the extent necessary in the Bank. The Bank also adopts the timely recording system of the receipt of the order from a customer and the execution of a transaction as much as practicable depending on the type of the transaction.
(iv) Risk Management
The Bank aims to manage its own risks appropriately based on its trading strategies, its position, foreseeable risks, and market liquidity etc.
9. Confidentiality
The Bank is bound by contractual and regulatory obligations relating to confidential information and has adopted policies and procedures to assist it in meeting these obligations. Where consistent with these obligations:
- The Bank may make use of information provided to it as principal in order to effectuate and risk manage transactions, as well as for other risk management purposes. Specifically, unless otherwise agreed, the Bank may use the economic terms of a transaction (but not the counterparty identity) in order to evaluate and/or source liquidity and/or execute risk-mitigating transactions or determine what prices the Bank quotes to third parties. Such use could adversely affect the customer who provided the information to the Bank. In addition, as part of the Bank’s obligations as a regulated entity, the Bank shares customer and transaction information as required by its global regulators.
- The Bank analyzes information regarding executed transactions on an individual and aggregate basis for a variety of purposes, including credit and market risk management, sales coverage, and counterparty relationship management. Unless otherwise agreed, the Bank may analyze, comment on, and disclose anonymized and aggregated information regarding executed transactions, together with other relevant market information, internally and to third parties, as market color. The Bank may also use such anonymized and aggregated information in products, services or data that the Bank offers as part of its business.
The Bank conducts the foreign exchange business in compliance with the FX Global Code established by the Global Foreign Exchange Committee.
Please refer to the following disclosure materials in the format recommended by the FX Global Code.
2. SMBC Canada Branch
Customer Complaint Information
We Welcome Your Feedback
Our goal is to preserve the confidence and trust of all our customers and other stakeholders. We are committed to addressing your concerns quickly and to your satisfaction. Should you wish to raise a concern or make a complaint, including privacy related matters, please raise the issue as soon as it comes up. This brochure will help you to find the appropriate contact information to help ensure your concern gets resolved to your satisfaction and in a timely manner. We ask that you follow the process outlined in this brochure.
If You Have a Concern
We want to handle your concerns in the most efficient, professional, and timely manner possible. Please be guided by the following to ensure your concern receives the attention it deserves.
If a problem occurs, it is best to start where the issue originated. Save valuable time by collecting all the relevant information before you make your initial contact:
- Assemble all supporting documents concerning your complaint, paying special attention to the date(s).
- Be clear about the circumstances and determine what you would like us to do.
Contacting Us:
You can contact us in multiple ways. Please feel free to use any of the following methods:
- Contact your Relationship Manager
- Call us at 1-416-368-4766
- Email us at contactuscanada@smbcgroup.com
Our employees are often able to resolve your concern quickly and effectively when we hear from you. In situations where you do not feel satisfied with the response you have received, you can ask to be referred to a Compliance Officer.
Escalation of Your Concern
If you are not satisfied with the response that you have received to your concern, you can ask to escalate your complaint. You may address your complaint and/or concern to our Compliance Officer as follows:
Compliance Officer
Sumitomo Mitsui Banking Corporation, Canada Branch
222 Bay Street, Suite 1400, P.O. Box 172
Toronto, ON M5K 1H6
TEL: 416—368-4766
Email: contactuscanada@smbcgroup.com
We will provide you with an Acknowledgement Letter without delay, confirming our receipt of your complaint. We will then start processing your complaint based on our Complaints Management Procedure. If you are not satisfied with the action taken by SMBC Canada Branch to resolve your concern, or if we have taken longer than 56 days (after the day on which the complaint is first communicated to us, by any channel) to investigate and respond to your concern, we encourage you to contact the relevant external independent body in the following pages.
Contacting External Complaint Bodies
-
Ombudsman for Banking Services and Investments (OBSI)
OBSI is Canada’s external complaints body designated under the Bank Act. This is an independent external complaints body, responsible for assisting banking customers with their concerns. SMBC Canada Branch is a member of OBSI.
OBSI will accept your request:- If you are not satisfied with the action taken by us to resolve your complaint; or
- If we have taken longer than 56 days to investigate and respond to your concern from the date it was first communicated to us, by any channel.
Once you have provided the relevant consent to OBSI, we will fully co-operate with their investigation and provide them with any information we have related to your complaint. You may contact OBSI in writing as follows:
20 Queen Street West, Suite 2400,
P.O. Box 8
Toronto, ON M5H 3R3;
Alternatively, you can contact OBSI by calling: 1-888-451-4519 or via its website: https://www.obsi.ca/en/index.aspx. -
Financial Consumer Agency of Canada (FCAC)
FCAC supervises all federally regulated financial institutions, such as banks and foreign bank branches. FCAC is responsible for administering sections designated as “consumer protection provisions” in the Bank Act and will investigate any complaint or concern that relates to a possible breach of that legislation. While FCAC does not resolve individual customer complaints, if you believe that your complaint relates to a violation of a law, regulation, code of conduct or public commitment, you may submit your complaint to FCAC as follows:
Financial Consumer Agency of Canada
Enterprise Building, 6th Floor
427 Laurier Avenue West
Ottawa, ON K1R 1B9
Alternatively, you may also contact FCAC through its website: fcac-acfc.gc.ca or by telephone at:
- For service in English: 1-866-461-FCAC (3222)
- For service in French: 1-866-461-ACFC (2232)
- For calls from outside Canada: 613-960-4666
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Office of the Privacy Commissioner of Canada
If your complaint relates to privacy matters and you are not satisfied with the outcome or examination of your privacy complaint conducted by our Privacy Officer, you can contact the Office of the Privacy Commissioner of Canada. The Office of the Privacy Commissioner of Canada investigates complaints concerning the Personal Information Protection and Electronic Documents Act. Complaints to the Office of the Privacy Commissioner of Canada must be submitted in writing as follows:
Office of the Privacy Commissioner of Canada
30 Victoria Street
Gatineau, QC K1A 1H3
Customer Complaints Resolution
As required by the Complaints (Banks, Authorized Foreign Banks and External Complaints Bodies) Regulations SOR/2013-48, Sumitomo Mitsui Banking Corporation, Canada Branch confirms that we did not receive any complaints in 2018, 2019, 2020, 2021,2022 and 2023.
Uninsured Deposit Notice
Deposits with the Sumitomo Mitsui Banking Corporation, Canada Branch are not insured by the Canada Deposit Insurance Corporation (CDIC).
Prohibited Conduct
The Bank Act requires banks to inform customers in plain language that it is prohibited to impose undue pressure on, coerce, or take advantage of a person.
What is Prohibited Conduct?
It is unlawful in Canada for banks to take advantage of a person or coerce or impose undue pressure on them. This requirement is included in Section 627.04 of the Canadian Bank Act. Sumitomo Mitsui Banking Corporation, Canada Branch is subject to this requirement in Canada. More specifically, in our dealings with our customers and the public in Canada, we may not take advantage of a person, impose undue pressure on them or coerce them for any purpose. In this respect, undue pressure refers to any pressure that could be reasonably considered to be excessive or persistent in the circumstances. This also means that we may not impose undue pressure or coerce a person to obtain a product or service from a particular institution (such as Sumitomo Mitsui Banking Corporation, Canada Branch or its affiliates or partners), as a condition for obtaining another product or service from Sumitomo Mitsui Banking Corporation, Canada Branch. If you qualify for a product, a banking representative is not allowed to excessively pressure you to buy another unwanted product or service as a condition of obtaining the product you want.
What is Our Commitment to You?
We expect all employees at Sumitomo Mitsui Banking Corporation, Canada Branch to comply with the law by not practicing prohibited conduct. We urge you to let us know if you believe that you have experienced prohibited conduct in any dealings with us. You can find out how to contact us below.
What is NOT Prohibited Conduct?
Most businesses, including Sumitomo Mitsui Banking Corporation, Canada Branch, look for tangible ways to show their interest in your business and appreciation for your loyalty. Sales practices, such as preferential pricing and bundling of products and services, offer potential and existing customers better prices or more favourable terms. These practices should not be confused with coercive tied selling, as defined by the Bank Act. Many of these practices will be familiar to you in your dealings with other businesses.
What is Preferential Pricing?
Preferential pricing means offering customers a better price or rate on all or part of their business. For example, a printer offers a lower price for each business card if you buy a thousand cards instead of a hundred. A shoe store offers a second pair of shoes at half price.
Similarly, a bank may be able to offer you preferential pricing – a higher interest rate on investments or a lower interest rate on loans – if you use more of its products or services.
What is Bundling of Products and Services?
Products or services are often combined to give consumers better prices, incentives or more favourable terms. By linking or bundling their products or services, businesses are often able to offer them to you at a lower combined price than if you bought each product on its own. For example, a fast-food chain advertises a meal combination that includes a hamburger, fries and a drink. The overall price is lower than if you bought the three items separately.
Similarly, banks may offer you bundled financial services or products so that you can take advantage of package prices that are less than the sum of the individual items.
How Do We Manage Our Credit Risk?
To ensure the safety of their depositors, creditors and shareholders, banks must carefully manage the risk on the loans and credit cards they approve. Therefore the law allows us to impose certain requirements on borrowers as a condition for granting a loan - but only to the extent necessary for us to manage our risk.
The following example will help to explain how banks manage such risk.
You apply for an operating loan for your business. To manage the risk associated with the loan, your bank requires your business to have an operating account with the bank as a condition for obtaining the loan.
The above example is legal and appropriate. Having your business’ operating account at the bank allows your bank to assess possible risks associated with your business’ cash flow and manage the risk associated with the loan.
At Sumitomo Mitsui Banking Corporation, Canada Branch, our requirements for borrowers will be reasonable and consistent with our level of risk appetite.
How Can You Contact Us?
If you believe you have experienced undue pressure or coercion or have been taken advantage of in any dealings with Sumitomo Mitsui Banking Corporation, please contact your main contact at Canada Branch by phone or email. You may also report your complaint and/or concern to our Compliance Officer.
Compliance Officer
Sumitomo Mitsui Banking Corporation, Canada Branch
222 Bay Street, Suite 1400, P.O. Box 172
Toronto, ON M5K 1H6
TEL: 416--368-4766
Email: contactuscanada@smbcgroup.com
If your complaint involves a legislated consumer provision, you may contact the Financial Consumer Agency of Canada (FCAC) toll-free at 1-866-461-3222, or in writing
- at its office at 427 Laurier Ave. West, 6th Floor, Ottawa, Ontario K1R 1B9; or
- through its website
Please see Customer Compliant Information for more details.
Notice Providing of Charges Applicable to Deposit Account
SUMITOMO MITSUI BANKING CORPORATION, CANADA BRANCH
STANDARD FEE SCHEDULE FOR BUSINESS ACCOUNT SERVICES
*All fees are in Canadian Dollars with exception for those who only hold USD accounts (fees in US Dollar).
Effective: October 1, 2020
(1) Deposit
ITEM |
STANDARD FEE |
Official cheque issue |
$15.00 per cheque |
NSF cheque (cheque returned) |
$20.00 per cheque |
Stop payment |
$35.00 per cheque |
Cheque drawing on own account |
$ 0.75 per cheque |
Deposit cheque on account |
Nil |
Monthly statement by mail |
Nil |
Monthly statement by fax/email |
$10.00 per month |
Special statement on request |
$10.00 per account |
Daily account movement advice by fax/email |
$30.00 per month |
Daily account movement advice by SWIFT (MT940/950) |
$50.00 per month |
Early cancellation of term deposit / loan |
$50.00 per month + interest cost |
Overdraft administration |
$25.00 prime + 2% interest |
Certificate of balance / confirmation |
$25.00 other-negotiable |
(2) Transfer Remittance
ITEM |
STANDARD FEE |
Outgoing transfer* |
$30.00 |
Cable advice* |
$10.00 |
Internal transfer – between accounts held at SMBC, Canada Branch |
$10.00 |
Stop payment / cancellation |
$40.00 |
* Payments that are in settlement of Loan, Deposit or Foreign Exchange transactions made with our Bank for the Customer’s own account will not be subject to Outgoing Transfer Fee and Cable Advice Fee.
STANDARD FEE SCHEDULE FOR TRADE-RELATED SERVICES
(1) Import Letters of Credit, Acceptances & Collections
ITEM |
STANDARD FEE* |
L/C Opening |
0.25%, min $100 |
L/C Amendment |
$50 |
L/C Cancellation |
$100 |
Sight Payment |
0.125%, min $75 |
Usance Payment |
0.25% per month, min $75 |
L/G |
Negotiable |
Collection Items Paid (Sight) |
0.25%. min $75, max $250 |
Collection Items Paid (Usance) |
Above plus $15 |
Cable (additional to above fees) |
$25 |
(2) Export Letters of Credit & Collections
ITEM |
STANDARD FEE* |
L/C Advising |
$50 |
L/C Confirming |
Negotiable, min $100 |
L/C Amendment |
$50 |
L/C Cancellation |
$50 |
Transfer |
0.125%, min $250 |
Payment Commission |
0.125%, min $75 |
Acceptance Commission |
0.125%, min $75 |
Collection Commission |
0.3%, min $75, max $250 |
Tracer |
$25 |
*Standard fees are charged in the currency of the transaction.
Effective: October 1, 2020
Fee Schedule
E-MONEYGER® Online Banking Services
|
Basic (No Fund Transfers) |
Standard (With Fund Transfers) |
One time Set up Fee |
Waived |
Waived |
Monthly Maintenance Fee |
C$50.00 |
C$70.00 |
Initial System Administrator Token |
Includes 1 |
Includes 1 |
Initial User Token |
Includes 1 |
Includes 2 |
Additional User Token |
Actual Cost |
Actual Cost |
Fund Transfers(outgoing) |
N/A |
C$25.00 |
EFT Fee Schedule
(Direct Transmission)
|
Price (CAD) |
Unit |
Initial fee (one-time) |
||
EFT Implementation |
$200.00 |
One Time Fee |
Monthly/Recurring fee |
||
EFT Monthly Maintenance |
$50.00 |
Per Account |
File Processing |
$10.00 |
Per File |
Electronic Payment |
$0.25 |
Per Payment |
Each Report formatted delivered (Delivery Notification) |
$1.00 |
Per File |
Optional fee (charge per occurrence) |
||
Returned Payment |
$10.00 |
Per Payment |
Investigation/Traced Payments |
$50.00 |
Per Investigation |
Payment errors held for correction for 40 days |
$0.25 |
Per Payment |
Report and Data Delivery |
$10.00 |
Per Report |
Payment Modified Online |
$2.00 |
Per Payment |
Payment Reversed (by Bank) upon client’s request |
$30.00 |
Per Payment |
Bulk Maintenance (Change/Delete/Reversal) |
$20.00 |
Per File |
Bulk Maintenance (Change/Delete/Reversal) |
$1.00 |
Per Payment |
Blocked File (insufficient funds, excessive errors) |
$150.00 |
Per File |
Sumitomo Mitsui Banking Corporation, Canada Branch
222 Bay Street, Suite 1400, P.O. Box 172
Toronto, Ontario M5K 1H6, Canada
Main Tel: 416-368-4766
Fax: 416-367-3565
3. SMBC Leasing and Finance, Inc.
SMBC Leasing and Finance, Inc., Corporate Structure
SMBC Leasing and Finance, Inc., is incorporated in the state of Delaware, USA, with a London Branch registered in England and Wales. SMBC Americas Holdings, Inc., a Delaware corporation (“SMBCAH”) directly owns 100% of the voting shares of SMBC Leasing and Finance, Inc.
SMBCAH is a wholly-owned subsidiary of Sumitomo Mitsui Banking Corporation, a Japanese banking institution (“SMBC”), and SMBC is in turn a wholly-owned subsidiary of Sumitomo Mitsui Financial Group, a financial services conglomerate that is also incorporated in Japan.
SMBC Leasing and Finance, Inc., Business
SMBC Leasing and Finance, Inc., purchased its UK based subsidiary, SMBC Leasing (UK) Ltd., from SMBC Leasing Company Limited (Japan) on June 22, 2006. SMBCLF and its subsidiaries are engaged in the leasing of personal or real property, or acting as agent, broker or adviser in leasing of such property, in net, full-payout leasing transactions and making, acquiring or servicing loans and other extensions of credit such as would be made by a commercial finance company of the kind permitted for bank holding companies under the US Bank Holding Company Act and Regulation Y of the United States Federal Reserve System.
Slavery and Human Trafficking Statement
Modern Slavery Act 2015 of the United Kingdom
Background
The Modern Slavery Act 2015 (the “Act”) of the United Kingdom requires certain businesses to provide disclosure concerning their efforts to address the issues of Slavery and Human Trafficking in their supply chain. The disclosure is intended to provide customers the ability to make better, more informed choices about the products and services they buy and the companies they support, and has been prepared in accordance with the UK Home Office statutory guidance1 on complying with Section 54 of the Act.
This document comprises the Slavery and Human Trafficking Statement of SMBC Leasing and Finance, Inc. (“SMBCLF”), its London Branch and its UK subsidiaries (collectively, “SMBCLF-UK”) for the financial year ended 31 December 2020.
SMBCLF-UK's stance on Slavery and Human Trafficking
As part of SMFG, SMBCLF adheres to the group commitments to Corporate Social Responsibility (CSR), and the SMFG Statement on Human Rights, which reiterates the ethical responsibility to help protect and promote human rights.
SMBCLF-UK is committed to maintaining and improving systems and processes to mitigate the risk that it might be involved, wittingly or unwittingly, in the commission or facilitation of Slavery and Human Trafficking in any part of its operations, supply chain (including customers, contractors and suppliers), products, services and staff activities. SMBCLF-UK is committed to maintaining and improving systems and processes to mitigate the risk that it might be involved, wittingly or unwittingly, in the commission or facilitation of Slavery and Human Trafficking in any part of its operations, supply chain (including customers, contractors and suppliers), products, services and staff activities.
SMBCLF-UK also expects its staff, suppliers and business partners to adhere to the same high standards and to take reasonable steps to ensure that other third parties they do business with adhere to those standards as well.
Governance
SMBCLF-UK adheres to the Anti-Slavery and Human Trafficking Policy and Procedures of SMBC’s EMEA (Europe, the Middle East and Africa) Division. These policies and procedures provide appropriate and detailed guidance to SMBCLF-UK's staff on what constitutes an offence and the controls in place to mitigate the risk that SMBCLF-UK may be directly or indirectly involved in the commission or facilitation of Slavery and Human Trafficking.
SMBCLF-UK also adheres to SMBC EMEA Division’s Financial Crime governance framework, which includes an Antimoney Laundering/Combating of Terrorist Financing (AML/CTF) Policy, Anti-Bribery and Corruption (ABC) Policy, AntiFraud Policy, and Gifts and Entertainment (G&E) Policy. The Anti-Slavery and Human Trafficking Policy is aligned to, and is supported by, these policies.
Risk Assessment
The SMBC EMEA Division has enhanced its risk assessment of countries, industry sectors, goods and products, which have been reported to be involved in the potential commission or facilitation of slavery and human trafficking. Specifically, the assessment of goods and industry sectors has been updated in line with the United States Department of Labor – Bureau of International Labor Affairs (ILAB) list of goods produced by child labour or forced labour.
Due Diligence
SMBCLF-UK is required to conduct appropriate checks in order to obtain reasonable assurance that customers, business partners, suppliers, and other third parties are not involved in the commission or facilitation of Slavery and Human Trafficking.
SMBCLF-UK requires specific anti-slavery due diligence to be undertaken on all its counterparties, and applies consistent due diligence measures for Slavery and Human Trafficking, whereby suppliers, contractors, customers and any other business partners are all subject to the same level of identification, verification, and risk evaluation. In addition, in the course of conducting due diligence processes, all customers, business partners, suppliers and other third parties are subject to adverse news screening, incorporating specific terms relevant to Slavery and Human Trafficking.
Supply Chain
SMBCLF-UK expects its suppliers to undertake ethical business practices, particularly in, but not limited to, economic sectors where there are higher risks of Slavery and Human Trafficking. SMBCLF-UK takes appropriate steps to verify, evaluate and mitigate the risk that Slavery and Human Trafficking may occur in its supply chain. In particular, SMBCLFUK performs due diligence on suppliers and contractors at the start of a business relationship and subsequently on a periodic basis. This due diligence process includes, but is not limited to, an analysis of the activity carried out by the suppliers and contractors and a detailed review of publicly available information, in order to identify instances that may give SMBCLF-UK cause for concern.
Customers
SMBCLF expects its customers to undertake ethical business practices, particularly in, but not limited to, economic sectors where there are higher risks of Slavery and Human Trafficking. SMBCLF-UK takes appropriate steps to verify, evaluate and mitigate the risk that their products or services may be used by a customer for the commission or facilitation of Slavery and Human Trafficking.
As part of its on-boarding and periodic customer due diligence processes, SMBCLF-UK performs a series of checks on its customers, including, but not limited to, an analysis of the activity carried out by the customers and a detailed review of publicly available information, in order to identify instances that may give cause for concern.
Staff
In order to ensure proper understanding of the risks posed by Slavery and Human Trafficking in the context of SMBCLFUK’s supply chains and business, SMBCLF-UK's staff responsible for the above areas have received training on Slavery and Human Trafficking and the requirements of the Act.
All staff are encouraged to report any instances of suspected Slavery and Human Trafficking identified in any part of SMBCLF-UK’s business activities, either through their standard reporting lines, or through the whistleblowing programme of SMBC’s EMEA Division that is also available to SMBCLF-UK.
Slavery and Human Trafficking
As used in this Statement, the term “Slavery and Human Trafficking” refers to a variety of offences, including but not limited to:
- Slavery, servitude and forced or compulsory labour;
- Sexual exploitation, including all offences contemplated in the Part 1 of the UK Sexual Offences Act 2003;
- Removal and trafficking of organs outside the context of authorised health treatments;
- Securing services or other type of benefits by force, threats or deception; and
- Securing services or other type of benefits from children and vulnerable persons.
Contact
Questions, comments and requests regarding this Statement are welcomed and should be addressed. leaseadmin@gb.smbcgroup.com
Approval
This Statement was approved by the Board of Directors of SMBCLF on September 14, 2021 and has been signed on behalf of the Board by Mr. Stephen Perry, President of SMBC Leasing and Finance, Inc.
Modern Slavery Statement in accordance with the Modern Slavery Act 2018, Commonwealth of Australia
1. Introduction
This statement summaries the current approach to modern slavery of SMBC Leasing and Finance, Inc. (SMBC-LF) and outlines the actions that we have taken to mitigate the risk that human trafficking and modern slavery are not taking place in our business or our supply chains. It is also intended to assist customers to make better, more informed choices about the products and services they buy and the companies they support.
This statement has been prepared by SMBC-LF as the reporting entity in accordance with the UK Home Office statutory guidance 1 on complying with Section 54 of the 2015 Act and Modern Slavery Act 2018 (Commonwealth of Australia).
Both Acts require SMBC-LF to provide disclosure concerning its efforts to assess and address the risks that modern slavery practices may be occurring in its operations and supply chain of any entities that it owns or controls.
2. SMBC-LF’s structure, operations and supply chains
SMBC-LF’s company structure
SMBC-LF is an international leasing and finance company incorporated in the State of Delaware, USA.
Sumitomo Mitsui Financial Group, Inc.
SMBC-LF is a wholly-owned indirect subsidiary of Sumitomo Mitsui Financial Group, Inc. (SMFG) and is part of the SMFG group of companies (SMFG, together with its subsidiaries and affiliates are referred to as “SMBC Group”). SMFG is a publicly listed company. SMFG’s common shares are listed on the first section of the Tokyo Stock Exchange and the Nagoya Stock Exchange. SMFG’s American Depositary Receipts are also listed on the New York Stock Exchange.
SMBC Group is a global financial group that develops operations in a wide range of fields including banking, leasing, securities, credit cards and consumer finance. SMBC Group is comprised of four business units: the Retail Business Unit, the Wholesale Business Unit, the Global Banking Business Unit and the Global Markets Business Unit.
SMBC Group’s overseas network currently is comprised of offices in more than 40 countries and regions. As at 31 March 2022, SMBC Group had approximately 101,023 employees.
Further information on SMBC Group’s business can be found in SMFG's annual report and financial statements, which can be accessed at: https://www.smfg.co.jp/english/.
SMBC-LF operations
SMBC-LF specializes in originating, structuring, arranging and investing in structured assetbased, tax efficient and accounting driven financings in the US and worldwide.
SMBC-LF has offices in two (2) countries with approximately 20 employees. SMBC-LF has operations in Australia and the United States of America. As a subsidiary of Sumitomo Mitsui Banking Corporation (“SMBC”), SMBC-LF supports an extensive global network of SMBC group entities which SMBC either owns or controls. These group entities operate throughout these regions providing the financial services and credit related businesses to SMBC’s global network of customers. Further information on SMBC’s business, including a list of SMBC’s principal domestic subsidiaries, principal overseas subsidiaries and principal affiliates and a summary of the main businesses of these companies can be found here:
https://www.smbc.co.jp/global/aboutus/business; and
https://www.smbc.co.jp/global/aboutus/profile/group/
SMBC-LF in Australia
SMBC-LF established its presence in Australia in 2014 through its branch (ARBN 602 309 366) in Sydney, New South Wales.
SMBC-LF’s Australian operations are based in Sydney, New South Wales. SMBC-LF’s registered office in Australia is Level 40, The Chifley Tower, 2 Chifley Square, Sydney, New South Wales Australia.
In Australia, SMBC-LF provides financial advisory, lease financing, receivable purchases and asset backed debt financing for wholesale customers only. The Australian operations form part of the International Business Unit of SMBC Group.
Further information on SMBC’s global and Australian businesses can be accessed at: https://www.smbc.co.jp/global/; and https://www.smbc.co.jp/asia/australia/.
SMBC’s supply chains
SMBC’s business is primarily undertaken in an office environment with the majority of its suppliers providing goods and services in connection with office premises (such as stationery supplies, cleaning services and food and refreshments supplies), financial, technology and other professional services and corporate travel.
Given its geographic spread, SMBC’s supply chain is geographically diverse with suppliers from countries in which SMBC has operations.
SMBC’s suppliers range from small businesses to international organisations, operating across the developed and developing regions in which SMBC has operations.
Further, SMBC is connected with many thousands more organisations across the world via the supply chains of its first tier suppliers.
By way of example, the main categories of suppliers and service providers (by aggregate dollar value for the financial year ending 31 March 2022) for SMBC Sydney Branch relate to information technology equipment and software; rent; information services; market research; hospitality (including business travel); telecommunications; and professional advisers.
The arrangements SMBC Sydney Branch has with its suppliers are combination of long- term relationships with large multinational suppliers established and maintained as part of SMBC’s global operations and short-term relationships with smaller local suppliers. This list is broadly reflective of the categories of suppliers and service providers of SMBC globally and the entities which it owns or controls.
3. SMBC-LF and SMBC’s risks of modern slavery practices in operations and supply chains
SMBC-LF uses the technology, policies and procedures provided by SMBC to identify and capture risks associated with modern slavery.
SMBC conducts business internationally with operations spanning developed and developing countries and regions. Given the breadth of these operations, there is a potential risk that elements of the supply chain are engaging in modern slavery practices, particularly parts of the supply chain relating to the supply of goods and services. The risk is increased in relation to suppliers to SMBC’s operations in developing countries and regions.
SMBC’s supply chain includes a number of products that have been linked with modern slavery. For example, according to the Global Slavery Index 2018, the number 1 product category at risk of modern slavery imported into G20 countries (by US$ value) are laptops, computers and mobile phones. SMBC’s operations rely heavily on the use of laptops, computers and mobile phones. Using the Global Slavery Index 2018 as a source, SMBC has identified Information Technology services and software, manufacturing, agriculture, construction, mining, trade and service industries (such as hospitality and cleaning) as high risk sectors for modern slavery. SMBC operates in the banking and financial services industry and primarily within an office environment and therefore it does not operate in these sectors.
While SMBC aims to mitigate the risk that its suppliers are directly engaged in modern slavery, there is also a risk that suppliers have modern slavery risks in their own supply chains.
SMBC-LF outsources certain functions to SMBC and third party service providers. For example, SMBC-LF engages various third parties to provide services, such as information technology systems development and document archiving. There is a risk that such providers have modern slavery risks within their operations and supply chain, particularly given that most of these services are heavily reliant on IT hardware and software. These entities are assessed for their approach to managing modern slavery risk. SMBC continues its review of its modern slavery supply chain risk. It continues to consult with the group entities within its operational control. Given that such entities operate in the same financial services industry as SMBC, it believes that the modern slavery risks in its operations and supply chains is representative of the risks in the operations and supply chains of such group entities.
It is also acknowledged that modern slavery risks can also arise through the operations and actions of SMBC-LF’s customers. SMBC, therefore, may be linked to such risks, as a provider of financial services. Again, where these customers operate within jurisdictions or sectors with a high risk of modern slavery, this risk is heightened.
4. SMBC-LF and SMBC’s actions to assess and address risks of modern slavery practices
(1) SMBC’s commitment and policies in relation to slavery and human trafficking
SMBC is committed to maintaining and improving systems and processes to mitigate the risk that it might be involved, wittingly or unwittingly, in the commission or facilitation of Slavery and Human Trafficking in any part of its operations, customers and supply chain (including contractors and suppliers), products, services and staff activities.
As a signatory to the United Nations Global Compact, the SMBC Group is also committed to fulfilling the social responsibilities that are expected of it as a global financial group to create a society that is built on the utmost respect for human rights as directed by the "Universal Declaration of Human Rights," the "ILO Declaration on Fundamental Principles and Rights at Work," the "ISO 26000" guidelines on the social responsibilities of organisations, and the "Guiding Principles on Business and Human Rights" advocated by the UN Human Rights Council in 2011.
a. Initiatives for Sustainability
SMBC Group has positioned the sustainable development of society as a key issue and in October 2018, the establishment of its Corporate Sustainability Committee enables SMBC Group to better carry out the group’s Corporate Social Responsibility (CSR) and Environmental, Social and Governance (ESG) commitments.
In addition, SMBC Group has established the “SMBC Group environmental and Social Framework” in FY2021 in order to unify its internal policies on and approach to environmental and social issues.
This framework clarifies the Group’s approach to climate change, natural capital, respect for human rights, and social contribution based on the “SMBC Group Statement on Sustainability”, which states the Group’s basic stance toward realizing a sustainable society, The Group’s governance system for ESG risks is organized under this framework, including due diligence and policies related to each sector and business.
SMBC Group also formulated policies for specific businesses and sectors which are likely to have significant impacts on the environment and society. During FY2021, in the perspective of environment and respecting human rights, we decided to revise our policy for coal mining to not support newly planned and the expansion of thermal coal mining projects, as well as newly planned and the expansion of infrastructure developments that are dedicated to such projects
Further information on SMBC Group’s commitment to sustainability and policies for specific business and sectors can be found here:
https://www.smfg.co.jp/english/sustainability/group_sustainability/esframework/
b. SMBC Group’s statement on human rights
During FY2020, SMBC Group enhanced its Statement on Human Rights, which recognises the ethical responsibility of the SMBC Group to support and respect the protection of internationally proclaimed human rights and to prevent complicity on human rights violations. As noted in its statement, through dialogue and collaboration with stakeholders, SMBC Group aims to eliminate all forms of exploitative labor practices in its business and supply chains, including modern slavery, forced labor, human trafficking and child labor.
Further information on SMBC Group Policy Statement on Human Rights can be accessed at:
c. Principles of Action on Compliance and Risk
SMBC Group has established the “Principles of Action on Compliance and Risk”, which is a fundamental guidance from a compliance and risk perspective, on how SMBC group employees should act, in accordance with our Group Mission, Vision and Values.
The “Principles of Action on Compliance and Risk” require that SMBC Group employees respect human rights and embody these principles through its business, in order for SMBC group to realise the sustainable growth of its corporate values.
Further information on SMBC group’s Principles of Action on Compliance and Risk can be accessed at:
d. Sustainable Procurement Policy
SMBC Group published the “Sustainable Procurement Policy” on April 1st, 2022, in order to strengthen responsible procurement activities that carefully considers the environment and society throughout its supply chain.
This policy is based on the 10 principles of the United Nations Global Compact, the OECD Guidelines for multinational enterprises, the United Nations Guiding Principles on Business and Human Rights, and other international principles.
SMBC Group’s procurement activities are carried out in accordance with fair, impartial and transparent procedures based on free competition, which is in line with this policy and other relevant laws and regulations.
Further information on SMBC Group Sustainable Procurement Policy can be accessed at:
https://www.smfg.co.jp/english/sustainability/group_sustainability/pdf/stakeholder_policy_e.pdf
e. Anti-Slavery Policy
An Anti-Slavery Policy has been implemented within SMBC London Branch, which sets out the processes through which it seeks reasonable assurance that none of its customers, business partners, suppliers and other third parties are involved in the commission or facilitation of Slavery and/or Human Trafficking.
The Anti-Slavery Policy is supplemented by procedures and detailed guidance on what constitutes an offence and the controls in place to mitigate the risk that the branch may be directly or indirectly involved in the commission or facilitation of Slavery and/or Human Trafficking.
(2) SMBC’s actions in connection with its workplace environment, customer and supplier
SMBC is committed to prevent and remediate modern slavery risks by taking the following steps and actions.
a. Workplace
SMBC-LF seeks to provide a workplace free from any type of violation of employees' human rights, including but not limited to, forced labour, harassment and discrimination without distinction of any kind such as race, gender, sexual orientation, gender identity, religion, creed, national origin, disability, family status and birth status. This is reflected in SMBC Group’s numerous public statements on its commitment to protecting human rights as well as its employee codes of conduct and policy and procedure manuals in operation across its global network.
SMBC Group has systems in place (grievance mechanisms) through which various stakeholders can raise human rights issues associated with its business. Customers can contact SMBC Group through the call center, telephone, and website. Employees can raise their concerns via dedicated internal whistle-blowing channels.
Members of staff are encouraged to report any instances of suspected Slavery and Human Trafficking identified in any part of SMBC’s business activities. The options for raising concerns and reporting are incorporated within SMBC’s whistleblowing program.
b. Customer
The credit policy of SMBC Group prohibits granting credit to certain businesses and customers, which includes those who exhibit unacceptable practices from the perspective of public order and morals.
There is a prohibition on the origination of loans for certain types of businesses where human rights abuses, such as child labour is, or may, be taking place or is likely to take place.
SMBC has established its own internal procedures and has completed the Procedures for Environmental and Social Risk Assessment (the "Procedures"). The Procedures set the internal policy and procedures for environmental and social risk assessment, taking into consideration various factors, including the Equator Principles, and they have been implemented since June 2006, and amended from time to time.
An Independent Assurance Report was issued by Ernst & Young ShinNihon LLC on 1 June 2020, wherein no adverse finding or non-compliance had been noted.
Furthermore, in accordance with the SMBC AML/CFT Global Procedures, SMBC-LF conducts due diligence on its customers at both the on-boarding stage and at regular periods thereafter, as part of its anti-money laundering compliance responsibilities.
In SMBC-LF the due diligence includes compliance specific database searches on customers in relation to adverse news, which would identify news in connection with sanctions and human rights violations. This also includes ongoing screening in respect of customers, customer associated parties and trade finance transactions for connections to jurisdictions with human rights issues.
Furthermore, SMBC established human rights working group in FY2021, which includes various corporate departments, to discuss and introduce efficient measures to prevent human rights abuse. As a result, SMBC is planning to introduce a new set of measures concerning human rights due diligence on clients and projects that SMBC provides loans to, in order to identify and assess the risks concerning modern slavery. In addition, we also introduced enhanced due diligence for clients operating in a sector that is considered high risk from a modern slavery or human trafficking perspective.
c. Supply Chain
SMBC takes appropriate steps to verify, evaluate and mitigate the risk that Slavery and Human Trafficking may occur in its supply chain.
In Japan, SMBC has established Outsourcing Management Procedures, which require every office to perform due diligence on third parties in relation to Slavery and Human Trafficking by reviewing publicly available information.
In FY2020, the SMBC Group Outsourcing Due Diligence Program was enhanced to ensure an assessment and monitoring of all vendors/service providers (regardless of whether the service is considered to be outsourcing) is undertaken at least annually. The three areas of focus include the Japanese Anti-Social Forces Screening, Anti-Bribery and Corruption Due Diligence and Modern Slavery Due Diligence.
SMBC has also established Outsourcing Management Procedures for Overseas Offices, which stipulates that overseas offices should conduct appropriate due diligence in relation to Slavery and Human Trafficking. This due diligence process includes reviewing publicly available information such as the third party’s or its parent company’s website in respect of its policies or positions on the protection of human rights, as well as internet searches to determine whether there is any adverse news in respect of human rights violations. Per SMBC Group policy, contracting with a third party is prohibited if the third party is engaged / involved in human rights violations. Results of the assessments for all SMBC offices are consolidated and reported as part of the SMBC Risk Management program. SMBC Australia engaged a third party global compliance and due diligence company that specialises in third party due diligence and management. For the next financial year, the top 20 vendors by annual aggregate expenses engaged by SMBC Australia will be requested to answer a series of questions through an online platform that has been tailored for SMBC Australia, which will assist SMBC Australia to assess the modern slavery risk within its supply chain and enable it to focus its efforts on any high-risk suppliers. SMBC London requires specific anti-slavery due diligence to be undertaken on all its counterparties, and applies consistent due diligence measures for Slavery and Human Trafficking, whereby suppliers, contractors, customers and any other business partners are all subject to the same level of identification, verification, and risk evaluation.
As part of the on-boarding and periodic due diligence processes in SMBC London Branch, all counterparties are assessed to determine if they fall within the scope of the Act, and, if so, a copy of their Anti-Slavery Statement is sought and retained. By way of best practice, for those counterparties who are not in scope of the Act, SMBC London Branch will seek to obtain an equivalent policy or document relating to CSR, ESG or Human Rights.
5. SMBC’s methods to assess effectiveness of actions
Modern slavery has been introduced in the SMBC Group global compliance risk assessment framework.
Consistent with the SMBC Group global compliance risk assessment program, effectiveness is determined on an assessment as to:
- appropriate design of relevant policies and procedures to ensure compliance and risk management;
- how well the control processes have operated, including timeliness and comprehensiveness;
- the extent of employee training that has been conducted;
- the outcomes from monitoring and validation procedures; and
- the timeliness of remedial action taken for any issues arising.
Enhancements may be made as considered necessary as a result of these assessments.
6. SMBC’s consultation process with its subsidiaries and other controlled entities
The global compliance risk assessment framework referred to above is a channel for SMBC offices to provide feedback to Head Office through the annual reporting of risk assessment and implementation of control practices to assist in mitigating risks. As well, the enhanced Vendor and Outsourcing review management program provides an additional source of information for SMBC to assess the modern slavery risks associated with its suppliers and outsourced activities.
7. Training
In order to ensure proper understanding of the risks posed by Slavery and Human Trafficking in the context of SMBC’s supply chains and business, SMBC provides training to staff on Slavery and Human Trafficking and the requirements of the Act.
SMBC has provided specific training in relation to modern slavery, incorporating relevant resources and due diligence requirements, as a part of compliance training. At the end of FY2021, nearly 21,000 employees which accounts for most of SMBC employees in Japan, had completed the training.
SMBC Australia is also including modern slavery and human trafficking risks as well as due diligence measures undertaken in its compliance training program.Furthermore, during FY2021, SMBC planned to hold a study session for executives by inviting human rights experts to enhance their understanding of modern slavery, and the study session was conducted in May 2022. SMBC will also continue to provide the training in relation to human rights on regular basis for our employees in order to promote awareness of human rights.
8. Approval
This Statement was approved by the SMBC-LF Board of Directors on 20 December 2022 and has been signed on behalf of the Board by Mr. Stephen R. Perry, President of SMBC-LF.
4. SMBC Nikko Securities America, Inc.
Anti-Money Laundering
Summary of Anti-Money Laundering (AML) Related Information and Company Status with Regulators
SMBC Nikko is a registered broker-dealer with the SEC and a member of the self-regulatory organizations, FINRA and MSRB. As such, SMBC Nikko is considered a "covered financial institution" for purposes of the U.S. Bank Secrecy Act, as amended by the USA PATRIOT Act and is subject to the regulations thereunder, as well as the rules and oversight of the federal regulatory agencies and self-regulatory organizations listed above.
Our policy is to prohibit and actively prevent money laundering and any activity that facilitates money laundering or the funding of terrorist or criminal activities. Money laundering generally is defined as engaging in acts designed to conceal or disguise the true origins of criminally derived proceeds so that the unlawful proceeds appear to have been derived from legitimate origins or constitute legitimate assets.
Customer Identification Program
To help the government fight the funding of terrorism and money laundering activities, federal law requires us to obtain, verify and record information that identifies each person or entity who opens an account. When you open an account, we are required to ask for certain identifying information such as your legal name, address, and other information that will allow us to identify you. We also may ask to see identifying documents to verify your identity and to screen your name against various government databases.
Notice Regarding Entities Identified as Being of Primary Money Laundering Concern
Pursuant to U.S. regulations issued under section 311 of the USA PATRIOT Act, 31 CFR 103.192, we are prohibited from opening or maintaining a correspondent account for, or on behalf of, certain Specified Banks. The regulations also require us to notify you that your correspondent account (if applicable) with our financial institution may not be used to provide the Specified Banks with access to our financial institution. If we become aware that the Specified Banks are indirectly using the correspondent account (if applicable) you hold at our financial institution, we will be required to take appropriate steps to prevent such access, including terminating your account.
Business Continuity Plan
SMBC Nikko has developed a Business Continuity Plan on how we will respond to events that significantly disrupt our business. Since the timing and impact of disasters and disruptions is unpredictable, we will have to maintain flexibility in responding to actual events as they occur. With that in mind, we are providing you with this information on our business continuity plan.
Our Business Continuity Plan
We plan to quickly recover and resume business operations after a significant business disruption and respond by safeguarding our employees and property, making a financial and operational assessment, protecting the firm's books and records, and allowing our customers to transact business. In short, our business continuity plan is designed to permit our firm to resume operations as quickly as possible, given the scope and severity of the significant business disruption.
Our business continuity plan addresses: data backup and recovery; all mission critical systems; financial and operational assessments; alternative communications with customers, employees, and regulators; alternate physical location of employees; critical supplier, contractor, bank and counter-party impact; and regulatory reporting.
Varying Disruptions
Significant business disruptions can vary in their scope, and may impact only our firm, a single building from which our firm operates, the business district where our firm is located, the city where we are located or a larger region. Within each of these areas, the severity of the disruption also can vary from minimal to severe. In a disruption only to our firm or a building from which our firm operates, we will transfer our operations to our U.S. back-up site when needed and expect to recover and resume business within 24 hours. In a disruption affecting our business district or city, we will transfer our operations to our back-up site. Should a disruption affect both our main and U.S. back-up facilities, a London-based affiliate of the firm would perform the functions with respect to customer obligations existing at such time. If we are able to operate from our U.S. back-up facility, we plan to continue in business, and notify our customers through means still available to us. If the significant business disruption is so severe that it prevents use of both U.S. facilities, our London-based affiliate will close out existing positions.
The recovery and business continuity plans of SMBC Nikko are subject to modification without notice. Updates will be mailed to our customers.
SMBC Nikko does not and cannot guarantee that for every event or business disruption: (i) such plans will be successfully implemented; or (ii) such plans, if implemented will be sufficient and appropriate to avoid, deter, or mitigate the event or business disruption. In addition, because SMBC Nikko is dependent upon various infrastructure systems (e.g., transportation, telecommunications, exchanges, industry utilities), our ability to implement these plans may be impacted by issues with such infrastructure systems.
Securities Exchange Act Rules 606 and 607
Securities Exchange Act Rule 606 - Routing Statistics
SMBC Nikko publishes quarterly reports pursuant to SEC Rule 606(a) broken down by calendar month, containing certain required statistical information regarding the routing of held, non-directed customer orders in Regulation NMS stocks and listed options in NMS securities, including the nature of any relationship SMBC Nikko has with each venue. In addition, customers of the firm may request in writing details on NMS stock and option non-directed orders in NMS securities including the identity of the venue and the time of execution for the prior six months as required under Rule 606 (b)(1). SMBC Nikko is required to provide under certain circumstances additional routing and execution reports of the customer’s NMS stock orders submitted on a not held basis for the prior six months under Rule 606 (b)(3) within seven days of customer’s request.
To obtain a copy of our publicly disclosed SEC Rule 606 Report, visit IHS Markit website at https://mta.ihsmarkit.com/app-v2/public-report-library/public-report-library-view/SMBC%20Nikko%20Securities%20Americas%20Inc/213.
To obtain a copy of our publicly disclosed SEC Rule 606 Report prior to 2020, visit IHS Markit website at https://vrs.vista-one-solutions.com/sec606rule.aspx?clientid=sumi.
Securities Exchange Act Rule 607 - Disclosure of Payment for Order Flow
SMBC Nikko does not receive payment for order flow. In its efforts to provide for best execution, SMBC Nikko may route customers’ equity orders to one or more exchanges, alternative trading systems, electronic communications networks and other market centers. Certain of these execution venues offer cash credits/rebates or charge fees for orders depending on whether the orders provide liquidity to or take liquidity from the market. Periodically, the amount of credits/rebates that SMBC Nikko receives from one or more such execution venues may exceed the amount that the Firm is charged.
FINRA RULE 2266 – SIPC Information
Pursuant to FINRA Rule 2266, we are required to notify you of the following:
- Customers may obtain information about insurance provided by the Securities Investor Protection Corporation or SIPC, including the SIPC brochure, by contacting SIPC
- SIPC’s web site address http://www.sipc.org/ and telephone number (202) 371-8300
FINRA RULE 2267 – Investor Education and Protection
FINRA runs a public disclosure program known as BrokerCheck that provides information about brokerage firms and their registered persons. To obtain an investor brochure that includes information about BrokerCheck or to obtain additional information, contact the FINRA public disclosure hotline at (800) 289-9999 or visit the BrokerCheck website at http://brokercheck.finra.org/. FINRA’s general website is located at http://www.finra.org/.
FINRA RULE 5270 - Prohibition on Front-Running of Block Transactions
SMBC Nikko is generally prohibited from trading for its own account while in possession of an imminent (non-public) customer block order transaction (material market information), or providing such information to other investors or market participants, prior to the time the block transaction has been made publicly available (e.g. - reported executed) or, due to the passage of time, the order information has become stale or obsolete. Rule 5270 does not preclude principal transactions that SMBC Nikko can demonstrate are unrelated to the block order information. These may include transactions:
- where the Firm has established information barriers designed to prevent disclosure of such information;
- to correct bona fide errors;
- to offset odd-lot orders; or
- to purchase or sell individual or related securities or derivatives to unwind a facilitation position, or to hedge / pre-hedge the Firm’s risk in preparing for and executing block orders.
To manage its risk, SMBC Nikko may trade as principal at the same time and at the same price level in fulfilling your block order. SMBC Nikko may also trade along with your block order in the underlying security or related securities (derivatives) to the extent that its principal trading activity hedges or mitigates risk. In such cases, SMBC Nikko will seek fair and equitable allocations of order fills between your account and its principal account.
Trading in Securities Subject to a Distribution (SEC Regulation M, Rule 105)
SEC Rule 105 of Regulation M generally prohibits any person that sold short securities subject to a public securities offering within a specified period of time immediately preceding the pricing of the offering from purchasing the securities in that offering. For additional information on Rule 105, please see the SEC’s adopting release, available at:http://www.sec.gov/rules/final/2007/34-56206.pdf. We rely on your obligation to understand and comply with the provisions of Rule 105 as it pertains to your trading activity when you seek or accept an allocation in a public securities offering from SMBC Nikko.
FINRA RULE 5310 – Best Execution
In any transaction for or with a customer, SMBC Nikko will use reasonable care in seeking to obtain the most advantageous terms reasonably available under the circumstances for the execution of a customer’s order. In determining where to send customers’ orders SMBC Nikko takes into consideration, among other things, the size and type of order, the terms and instructions of the order, the trading characteristics of the security, the character of the market for the security, the accessibility of quotations, transaction costs, the opportunity for price or size improvement, the speed of execution, the availability of efficient and reliable order handling systems, the level of service provided by the market venue and the customer’s overall objectives with respect to the market conditions at the time of the order. SMBC Nikko regularly reviews transactions for quality of execution.
FINRA RULE 5320 - Trade Along, Not Held Orders
Customer equity orders received by SMBC Nikko are deemed “Not Held” orders unless you (customer) specifically request and provide other specific order instructions. A “not held” order means you are giving SMBC Nikko time and price discretion in seeking to obtain the best execution of your order.
When handling “not held” limit orders for institutional customers, SMBC Nikko is not required to display or protect the limit order. SMBC Nikko may trade for its own account at prices equal to, or better than, those of “not held” orders and orders of 10,000 shares or more unless the institutional customer opts into Rule 5320 protection from SMBC Nikko trading at prices equal to or better than those of the institutional customer’s order. Clients may “opt in” to the Rule 5320 protections by providing written notice to their SMBC Nikko sales representative. Notwithstanding the foregoing, SMBC Nikko makes every reasonable effort to provide you with the best execution possible.
Handling orders on a Not Held basis also means that SMBC Nikko may on occasion simultaneously conduct same-side principal trading in the same or related products while your order is outstanding. Principal trading while in possession of a customer order is allowed and may occur with knowledge of the customer order, as pre-positioning and anticipatory hedging for the overall benefit of the customer order.
Guaranteed Benchmark Orders
We may receive orders from you and/or other clients for equity securities where we agree to execute in a principal capacity all or a portion of the order at a guaranteed price. That price may be based on a benchmark such as VWAP or the official closing price for the security. We make every reasonable effort to facilitate your guaranteed price orders but may not, under certain circumstances, execute such orders fully or at all (e.g., a primary exchange fails to publish a closing price, the inclusion of the security on our restricted list, a trading halt (regulatory or otherwise), or another regulatory restriction.) In order to minimize or offset the risk of such guaranteed price transactions, we may engage in hedging or other positioning activity prior to executing your order, including but not limited to buying or selling the security(ies) that is/are the subject of the order or buying or selling an option or a future on the underlying security or basket of securities. While it is possible that such risk mitigating activities or other client activities could impact the benchmark price or the market for the security(ies) that is/are the subject of the order and, consequently, your costs or proceeds on the transaction, we will make every reasonable effort to minimize such impact. Any profit or loss from our risk mitigating activities will accrue to SMBC Nikko.
Regulation SHO Fail-to-Deliver Buy-In Requirement
Customers are advised to make every effort to settle their transactions timely.
In the event that you sell equity securities “short” through SMBC Nikko and the securities are not delivered to SMBC Nikko by the settlement date (T+2), borrowed securities must be received or the short position must be bought-in by no later than the opening of trading on the morning after settlement date (T+3). Customers who fail to timely deliver securities sold short will be required to pay for purchased securities. Customers who are unable to resolve failed delivery of securities to satisfy a short sale position may be prohibited from effecting further short sales in the security.
In the event that you sell equity securities ("long") through SMBC Nikko and the securities are not delivered to SMBC Nikko by the settlement date (T+2), delivery must be made no later than before the opening of trading on T+5.
SMBC Nikko may impose other conditions or limitations on trading should the client exhibit a pattern of fails.
Trading Indications of Interest and Trade Advertising
As used in this context, an IOI is an expression of trading interest that contains one or more (but not all) of the following trade elements: security name, size, side, capacity, and price. The use of an IOI is intended to solicit contra-side interest. We may submit an IOI to another market participant or trading venue. IOIs may be disseminated over electronic trading systems or through direct connections to clients' order management systems. When submitting IOIs, we will adhere to service providers' guidelines and guidance issued by regulators, including whether we designate an IOI as “natural”, (a client order or principal order effected to facilitate a customer order). We use certain service providers (e.g., Bloomberg) to advertise trade executions. Customers may opt out of advertising their executions and/or submitting IOIs by contacting your SMBC Nikko sales representative.
Large Trader Identification - SEC Rule 13h-1
SEC Rule 13h-1 defines certain investors ("Large Traders") that in the aggregate effect transactions in NMS securities that are equal to or greater than:
- During a calendar day, either two million shares or shares with a fair market value of $20 million; or
- During a calendar month, either twenty million shares or shares with a fair market value of $200 million.
Customers who are registered as Large Traders are required to notify SMBC Nikko and provide their Large Trader Identification Number (“LTID”). SMBC Nikko monitors its customers for compliance with SEC Rule 13h-1’s large trader registration requirement. SMBC Nikko keeps records of the activity of all of its customers and is obligated to report large trader transaction information to the SEC upon request. If a customer has not provided an LTID and its trading activity triggers the large trader thresholds, SMBC Nikko will notify the customer of its obligations and self-identification requirements under Rule 13h-1.
Rule 15c3-5 and Market Access
SEC Rule 15c3-5 requires broker-dealers that access or provide access to exchanges or alternative trading systems to establish, document and maintain a system of risk management controls that are reasonably designed to manage the financial, regulatory and other risks in connection with market access. SMBC Nikko has in place controls that will reject orders that exceed pre-determined risk parameters.
U.S. Treasury Securities Fails Charge
SMBC Nikko follows the U.S. Treasury Securities Fails Charge Practice published by the Treasury Market Practices Group (“TMPG”) and the Securities Industry Financial Markets Association (“SIFMA”). Accordingly, any failure by you to deliver Treasury Securities by settlement date in transactions we have with you is subject to a Fails Charge as published by TMPG and SIFMA. See: TMPG | Treasury Market Practices Group (newyorkfed.org)
U.S. Treasury Securities Information Handling
SMBC Nikko follows the U.S. Treasury Securities Information Handling Practices published by the Treasury Market Practices Group (“TMPG”). Accordingly, SMBC Nikko America maintains policies, procedures, and a training program on covering the handling, sharing and use of confidential information and material non-public information (“MNPI” or “inside information”), and the maintenance and safeguarding of client confidentiality. SMBC Nikko America applies a “need to know” standard with respect to all aspects of client information including but not limited to order, quotation, execution, positional, and pricing data, and such information may be used by staff only for its intended purposes. See: TMPG | Treasury Market Practices Group (newyorkfed.org)
FINRA Rule 2265 - Extended Hours Trading Risk Disclosure
While extended hours trading can provide customers with greater opportunities to trade securities and manage their portfolios, it also involves material risks that are specific to extended hours trading.
Extended Hours Trading Risk Disclosure Statement
- You should consider the following points before engaging in extended hours trading. "Extended hours trading" means trading outside of "regular trading hours." "Regular trading hours" generally means the time between 9:30 a.m. and 4:00 p.m. Eastern Standard Time.
- Risk of Lower Liquidity. Liquidity refers to the ability of market participants to buy and sell securities. Generally, the more orders that are available in a market, the greater the liquidity. Liquidity is important because with greater liquidity it is easier for investors to buy or sell securities, and as a result, investors are more likely to pay or receive a competitive price for securities purchased or sold. There may be lower liquidity in extended hours trading as compared to regular trading hours. As a result, your order may only be partially executed, or not at all.
- Risk of Higher Volatility. Volatility refers to the changes in price that securities undergo when trading. Generally, the higher the volatility of a security, the greater its price swings. There may be greater volatility in extended hours trading than in regular trading hours. As a result, your order may only be partially executed, or not at all, or you may receive an inferior price when engaging in extended hours trading than you would during regular trading hours.
- Risk of Changing Prices. The prices of securities traded in extended hours trading may not reflect the prices either at the end of regular trading hours, or upon the opening the next morning. As a result, you may receive an inferior price when engaging in extended hours trading than you would during regular trading hours.
- Risk of Unlinked Markets. Depending on the extended hours trading system or the time of day, the prices displayed on a particular extended hours trading system may not reflect the prices in other concurrently operating extended hours trading systems dealing in the same securities. Accordingly, you may receive an inferior price in one extended hours trading system than you would in another extended hours trading system.
- Risk of News Announcements. Normally, issuers make news announcements that may affect the price of their securities after regular trading hours. Similarly, important financial information is frequently announced outside of regular trading hours. In extended hours trading, these announcements may occur during trading, and if combined with lower liquidity and higher volatility, may cause an exaggerated and unsustainable effect on the price of a security.
- Risk of Wider Spreads. The spread refers to the difference in price between what you can buy a security for and what you can sell it for. Lower liquidity and higher volatility in extended hours trading may result in wider than normal spreads for a particular security.
MSRB Rule G-10 – Investor Education and Protection
SMBC Nikko is subject to the regulations and rules on municipal securities activities established by the SEC and MSRB. The website for the SEC is www.sec.gov and the website for the MSRB is www.msrb.org. Note that in addition to having educational material about the municipal securities market, the MSRB website has an investor brochure that describes the protections that may be provided by the MSRB rules and how to file a complaint against SMBC Nikko or a SMBC Nikko representative with the FINRA Investor Complaint Center. To obtain a copy of MSRB Rules, contact the MSRB at (202)-838-1500 or visit MSRB website.
Municipal Entities and Obligated Persons Disclaimer
If you are a municipal entity or obligated person, (a) SMBC Nikko is not recommending to you any action; (b) SMBC Nikko is not acting as an advisor to you and does not owe a fiduciary duty pursuant to Section 15B of the Securities Exchange Act to you with respect to the information and material contained in this communication; (c) SMBC Nikko is acting for its own interests; and (d) you should discuss any information and material contained in this communication with any and all internal or external advisors and experts that you deem appropriate before acting on this information or material.
Telephone Recording Disclosure
SMBC Nikko records certain phone lines of our sales and trading personnel. Please note that these recordings may be made without the use of a spoken warning, tone, or similar notification. Please be advised that participation in such calls by your employees or representatives constitutes consent to such recording where consent is required under applicable law.
Privacy Disclosure
SMBC Nikko Securities America, Inc. aligns its information privacy policy with the SMBC Americas Division policy. See the disclosures at https://www.smbcgroup.com/privacy-security.
Disclosure to Canadian Clients Under National Instrument 31-103
As a client of SMBC Nikko, resident in a jurisdiction of Canada, you are advised that we operate as a dealer or adviser in your jurisdiction under an exemption from the dealer and adviser registration requirements contained in National Instrument 31- 103 - Registration Requirements and Exemptions (NI 31-103) and, as such, we are not required to be and are not a registered dealer or adviser in your jurisdiction.
As required, in order to operate under the international dealer and international adviser exemptions, we wish to notify you of the following:
- Our head office is located at 277 Park Avenue, Fifth Floor, New York, New York, 10172; and
- You may face difficulty in enforcing legal rights you may have against us because we are resident outside of Canada and all or substantially all of our assets are situated outside of Canada.
Purchaser Representations
As a condition of providing our services to you, you are deemed to represent to us that you are, (i) purchasing as principal; (ii) an accredited investor, as defined in National Instrument 45-106 Prospectus Exemptions or subsection 73.3(1) of the Securities Act (Ontario), and (iii) a permitted client, as defined in NI 31-103. Any resale of the securities you acquire in an offering must be made in accordance with an exemption from, or in a transaction not subject to, the prospectus requirements of applicable securities laws.
Statutory Rights
Securities legislation in certain provinces or territories of Canada may provide you with remedies for rescission or damages if the offering document used in connection with an offering (including any amendment thereto) contains a misrepresentation, provided that the remedies for rescission or damages are exercised by you within the time limit prescribed by the securities legislation of your province or territory. You should refer to any applicable provisions of the securities legislation of your province or territory for particulars of these rights or consult with a legal advisor.
Underwriting Conflicts
Pursuant to section 3A.3 (or, in the case of securities issued or guaranteed by the government of a non-Canadian jurisdiction, section 3A.4) of National Instrument 33-105 Underwriting Conflicts (NI 33- 105), we are not required to comply with the disclosure requirements of NI 33-105 regarding underwriter conflicts of interest in connection with an offering.
Agent for Service
We have appointed Agents for Service in Canada as indicated in the table below:
SMBC Nikko may modify the practices described in this notice due to changes in law or regulation, or because of industry or other developments.
Copies of SMBC Nikko’s audited and unaudited financial statements are available for you to review, print, and download:
- Audited Statement of Financial Condition 12/31/2023
- Unaudited Statement of Financial Condition 6/30/2024
For more information, questions or to file a complaint you can contact us at:
SMBC Nikko Securities America, Inc.
277 Park Avenue, 5th Floor New York, NY 10172
Attention: Compliance Department
Or e-mail us at:
NYNikkoComplaintsExternal@smbcnikko-si.com
Transparancy & Reporting
Pursuant to the Financial Instruments and Exchange Law of Japan, effective as of March 1, 2016, a person who has submitted a notification regarding Specially Permitted Businesses for Qualified Institutional Investors, etc. is required to make available to the public certain information. Information on the following entities can be obtained upon request:
If you would like to obtain information, please send an email to WaterLily@smbcgroup.com.
Disclosure of Terms of Dealing for Foreign Exchange Transactions | Add to Product
Disclosure of Terms of Dealing for Foreign Exchange Transactions
Please contact your relationship manager if you have any questions.
5. SMBC Capital Markets, Inc.
SMBC Capital Markets, Inc. was provisionally registered as a swap dealer with the Commodity Futures Trading Commission on December 31, 2012. We are a member of the National Futures Association. We are a United States subsidiary of Sumitomo Mitsui Banking Corporation (Japan).
None of the information and opinions contained herein is intended to form the basis for any investment or trading decision, and no specific recommendations are intended. The products and transactions described herein are not suitable for every investor. Such products and transactions are only suitable for sophisticated and knowledgeable professional users of financial instruments and are structured and customized to the needs and objectives of each investor. The information and opinions contained herein have been prepared for informational purposes only and do not constitute an offer to sell, or solicitation of an offer to purchase, any security, any commodity futures contract or commodity-related product, any derivative product, or any trading strategy or service described herein. Opinions contained herein are subject to change without notice.
Investors must undertake independent consultation, evaluation, and review with their own tax, legal, accounting, credit, trading, and regulatory experts and advisers as relates to their asset, liability, and risk management objectives and risk tolerance. Investors must make investment, hedging, and trading decisions based upon advice from their advisers as deemed necessary and their own evaluation, judgment, and conclusions as to the potential economic benefits and risks, the appropriateness in light of their financial circumstances, business affairs, and risk management capabilities, and the conformity to their policies and objectives, and not upon any view expressed by SMBC Capital Markets, Inc. or any affiliate thereof. SMBC Capital Markets, Inc. and its affiliates are not acting as fiduciaries or financial or investment advisers to investors.
SMBC Capital Markets, Inc. and its affiliates make no guarantee, assurance, or representation whatsoever as to the expected or projected success, profitability, return, savings, performance, result, effect, consequence, or benefit (either legal, regulatory, tax, financial, accounting, or otherwise) of any security, any commodity futures contract or commodity-related product, any derivative product, or any trading strategy or service described herein. SMBC Capital Markets, Inc. and its affiliates may own securities, commodity futures contracts or commodity-related products, or derivative products, or be party to other contractual arrangements, that may increase in value as a result of products and transactions described herein.
SMBC Capital Markets, Inc., its affiliates and personnel also may (i) perform services for or solicit business from the issuers of securities, commodity futures contracts, commodity-related products, or derivative products from time to time described herein; (ii) have long or short positions in, buy and sell, and otherwise invest in such securities, contracts and products; and (iii) act upon and use the information and opinions set forth herein, to the extent otherwise permitted by applicable law, before such information and opinions are published herein.
Representative terms and elements of pricing and structuring of products and transactions described herein are for informational purposes only and have been prepared from sources believed to be reliable. Neither SMBC Capital Markets, Inc. nor any of its affiliates accepts liability for any loss arising from the use of or makes any representation as to the accuracy or completeness of the terms and conditions of products and transactions described herein. Finalized terms and conditions are subject to further discussion and negotiation and will be determined in part on the basis of pricing and valuation models, data, and assumptions that are proprietary to SMBC Capital Markets, Inc. and its affiliates. No assurance can be given that a product or transaction can, in fact, be executed on any representative terms indicated herein.
Certain of the products and transactions described herein may be offered by brokers and dealers affiliated with SMBC Capital Markets, Inc., including SMBC Nikko Securities America, Inc., which effects securities transactions with US persons.
The products and services provided by SMBC Nikko Securities America, Inc. and other members of the Sumitomo Mitsui Banking Corporation Group are available to investors subject to applicable limitations in the various jurisdictions in which those companies are authorized to conduct business.
Certain assumptions may have been made in the analysis contained in the information and opinions described herein which have resulted in the returns detailed herein. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Past performance is not necessarily indicative of future returns.
SMBC Nikko Capital Markets Limited and SMBC Derivative Products Limited are authorized and regulated by the Financial Conduct Authority (FCA). The investments discussed or recommended in the information may be unsuitable for investors depending on their specific investment objectives and financial position. This information is not intended for, and the services outlined here are not available to, persons who would be classified as retail customers by the FCA Conduct of Business Sourcebook. The price or value to which these materials relate, either directly or indirectly, may fall or rise against the interest of investors. Where an investment is denominated in a particular currency, changes in rates of exchange may have an adverse effect on the value, or price of, or the income derived from the investments. Income from investments may fluctuate.
Additional information is available upon request.
6. SMBC SOFOM, S.A.P.I. DE C.V., SOFOM, E.N.R.
English Version
About us
Multiple Purpose Financial Companies (SOFOM) are a type of company in Mexico, whose main purpose is to carry out one or more of the activities of granting credit, leasing or financial factoring; these types of companies must have a current registration with the National Commission for the Protection and Defense of Users of Financial Services (Comisión Nacional para la Protección y Defensa de los Usuarios de Servicios Financieros, CONDUSEF).
This type of companies operate similarly to a bank, save and except that they are not allowed to raise funds from the general public and are not heavily supervised by the Mexican authorities.
In March 2015, SMBC SOFOM officially started its operations with only one authorized product - Term Loans (Single Draw).
SMBC SOFOM currently offers the following services:
- One-time and deferred drawable term loans (subject to liquidity coverage by means of capital)
- Revolving Credit / GTFD (subject to liquidity coverage using capital)
- Project Financing - Utilizing the Banobras (Development Bank) financing facility (long-term financing in MXN)
- Financial leasing (MXN or USD)
- Derivatives
Specialized User Service Unit:
The purpose of the Specialized User Service Unit (UNE) of SMBC SOFOM is to attend to the Inquiries, Complaints and Clarifications of the Users of the services provided by it and shall provide the National Commission for the Protection and Defense of the Users of Financial Services (CONDUSEF) with the information related to the UNE and the way to identify or locate its owner.
In this regard, SMBC SOFOM shall receive the referred Inquiries, Claims and Clarifications from its clients, through the Reception Means it designates for such purposes, acknowledge receipt to the clients, assign a folio number and indicate the response or resolution time. Likewise, the corresponding resolution or response must be communicated to the client by the means indicated by the client, or by the means by which the Consultation, Claim and Clarification was presented, indicating the reasons that support it and, if applicable, attaching the respective documentation.
In case of any Inquiry, Complaint or Clarification, please send it to:
Anabel Castañeda Medrano
Chief Executive Officer | SMBC, S.A.P.I. de C.V., SOFOM, E.N.R.
Torre Virreyes, Pedregal 24, 5th Floor, Col. Molino del Rey, Mexico City, 11040
Tel: +52 (55) 9688 8483 | +52 (55) 2623 1373 | Cel: +52 56 2560 7137
E-mail: anabel_castaneda@smbcsofom.com
If you are not satisfied with the measures adopted by SMBC SOFOM to resolve your Consultation, Complaint or Clarification, we suggest you contact the National Commission for the Protection and Defense of Users of Financial Services, a public agency whose purpose is to protect and defend the rights and interests of the public user of financial services provided by public, private and social sector institutions duly authorized to operate in Mexico.
CONDUSEF also has User Service Units, through which Users may submit written documents establishing their disagreement with any Financial Institution under the supervision of said authority.
Bureau of Financial Entities
It is a consultation and dissemination tool with which you can learn about the products offered by financial institutions, their commissions and fees, user complaints, unhealthy practices, administrative sanctions imposed on them, abusive clauses in their contracts and other relevant information to inform you about their performance.
With the Financial Entities Bureau, you will be able to know who is who in banks, insurance companies, multiple purpose financial companies, savings banks, AFORES, among other entities.
With this, you will be able to compare and evaluate the financial institutions, their products and services and you will have more elements to choose what is most convenient for you.
This information will be useful for you to choose a financial product and also to know and use better the ones you already have.
This Bureau of Financial Institutions is a tool that can contribute to the country's economic growth by promoting competition among financial institutions; that will promote transparency by disclosing information to users on their performance and the products they offer; and that will facilitate responsible management of financial products and services by providing detailed information on their characteristics.
This may result in greater social welfare, because by bringing together in a single space such diverse information from the financial system, the user will have more elements to optimize his/her budget, to improve his/her personal finances, to correctly use the credits that will strengthen his/her economy and to obtain the insurance that will protect it, among other aspects.
The information corresponds solely to SMBC, S.A.P.I. de C.V., SOFOM, E.N.R., to obtain information on the entire sector to which it corresponds, you can access the site http://www.buro.gob.mx
Data privacy notice
I. DATA CONTROLLER
SMBC, S.A.P.I. de C.V., SOFOM, E.N.R. (hereinafter, “SMBC SOFOM”) with legal domicile in Torre Virreyes - Pedregal No. 24, Piso 5, Int.502-A, Col. Molino del Rey, Delegación Miguel Hidalgo, Ciudad de México, C.P. 11040, when collecting your personal data, is responsible for its use and protection.
II. PERSONAL DATA
SMBC SOFOM shall collect from You (hereinafter the “Data Subject”) the following personal data as shareholder of one of our clients:
- Contact Data;
- Identification Data;
- Location Data;
- Employment Data; and
- Economic Data, as applicable.
III. SENSITIVE PERSONAL DATA
SMBC SOFOM doesn’t collect any sort of sensitive data from the Data Subject. By sensitive personal data we may understand any personal data that intrudes the most intimate circle of the Data Subject or that if used inappropriately, it could lead to discrimination or severe risk for the Data Subject in accordance to the Mexican Data Privacy Law (the “Law”). It is considered particularly sensible all data that could reveal racial or ethnic origin, present or future health conditions, genetic information, religious, philosophical, or moral beliefs, trade union membership, political opinions or sexual preference.
IV. COLLECTING MEANS AND UPDATE
The personal data will be collected while always observing the fulfilment of principles such as lawfulness, consent, information, quality, finality, proportionality, and responsibility. Personal data will be collected in proper and updated databases by:
- Local means,
- Remote or electronic,
- Optical, or
- Other technologies which allow to gather the data automatically or at the same time the Data Subject contacts SMBC SOFOM.
V. PROCESSING PURPOSES
The processing of personal data will constringe exclusively to the fulfilment of the purposes foreseen in this section. Therefore, the processing of personal data will exclusively be the one that results necessary, adequate and relevant in terms with the purposes listed in this section.
- The primary purposes, which originate and are necessary, to maintain and comply the legal relationship between SMBC SOFOM and the Data Subject, are the following:
- Identify the Data Subject and integrate his file.
- Incorporate data on legal instruments to formalize the agreements, in which the client you represent or from whom you are shareholder, pretends to contract with SMBC SOFOM, if applicable;
- Assign or transfer to a third party, by any means, rights and/or obligations derived from said contracts;
- Use the personal data, in any action or procedure for judicial or extrajudicial recovery; and
- Comply with all applicable laws, regulations and general dispositions.
- The secondary purposes that aren’t necessary for the maintenance and fulfilment of the legal relationship between SMBC SOFOM and the Data Subject, are the following:
- Delivery of news, invitations to SMBC SOFOM and SUMITOMO MITSUI BANKING CORPORATION’s events and/or its’ subsidiaries.
- Surveys for improving our services.
- Publicity, marketing and/or product advertising, and/or services offered by SMBC SOFOM to the Data Subject, by any material or electronic mean.
VI. DATA TRANSFERS
The personal data of the Data Subject shall be transferred in a national and international level, to individuals or entities located within the following types, categories or sectors, who will assume the same obligations that SMBC SOFOM has. Said data transfer will be done exclusively with the following purposes:
A. To SUMITOMO MITSUI BANKING CORPORATION, to other parent companies, subsidiaries or affiliates under the control of SMBC SOFOM, or to other holding companies or any corporation belonging to the SMBC SOFOM group that operates under the same internal procedures and policies, with the purpose of:
- Identify the Data Subject and integrate his file.
- Incorporate data on legal instruments to formalize the agreements, in which the client you represent or from whom you are shareholder, pretends to contract with SMBC SOFOM, if applicable;
- Assign or transfer to a third party, by any means, rights and/or obligations derived from said contracts, provided that it is in the interest of the Data Subject;
- Use the personal data, in any action or procedure for judicial or extrajudicial recovery;
- Comply with all applicable laws, regulations and general dispositions; and
- Share it with national and international authorities to fulfil any law, regulation or legal disposition, if appliable.
- Any other permitted transfer pursuant to Law.
Please consider that your consent shall not be needed to carry out:
- the transfer described in the aforementioned section A., because is the hypothesis provided by the section III of article 37 of the Federal Law on Protection of Personal Data Held by Private Parties and
- those transferences within the hypothesis provided by the article 37 of the Federal Law on Protection of Personal Data Held by Private Parties.
VII. ARCO RIGHTS
If at any moment the Data Subject by himself or through a legal representative duly authorized, wishes to exercise his rights to access, rectification, cancelation or opposition to process his personal data (the “ARCO Rights”), he might request a format to exercise such rights by any of the following means:
- Asist personally to the “Personal Data Protection Department” domiciled in Torre Virreyes - Pedregal No. 24, Piso 5, Int.502-A, Col. Molino del Rey, Delegación Miguel Hidalgo, Ciudad de México, C.P. 11040, Tel: +52 (55) 9688 8483 | +52 (55) 2623 1373 | Cel: +52 56 2560 7137 within the following operating hours: Monday to Friday from [9:00 to 14:00 and 16:00 to 19:00] hours; or
- Via e-mail to anabel_castaneda@smbcsofom.com, addressed to the “Personal Data Protection Department”, with the name and contact data of the Data Subject.
The format to exercise of ARCO Rights shall be filled out, signed and filed along with the following documents in order to authenticate the Data Subject:
- Official and valid ID of the Data Subject (INE credential, Passport, Military Service Document or Professional Certificate).
- In case of exercising the ARCO Rights is done through the legal representative of the Data Subject, you shall provide the official ID of the representative along with the notarized power of attorney which acknowledges the legal of the Data Subject.
- A proof of residency or any other means to communicate the response to the Data Subject’s request.
- The clear and previse description of the personal data according to the ARCO Right wished to claim. It is especially important when exercising the rectification, to include documentation which proofs the modification requested according to the personal data that wants to be rectified.
SMBC SOFOM shall reply to such form 20 (twenty) business days following the date in which the form was received. The resolution adopted by SMBC SOFOM shall be notified to the Data Subject by means elected by the Data Subject in the form for the exercise of ARCO Rights. In case the resolution adopted is proceeding, SMBC SOFOM will make it effective in the following 15 (fifteen) days to the date in which the resolution is notified. It’s important to mention that these time frames may be extended only once and in the same time period when and if the circumstances justify it, with previous notification of the Data Subject.
In the case You wish to revoke your consent or refuse to the process of your personal data for the Secondary Purposes, after this Privacy Notice is signed, You shall go to the Personal Data Protection Department or send an e-mail to the aforementioned address. Regarding personal data not collected directly from the Data Subject, he shall have 5 (five) business days to refuse to the process of his personal data.
VIII. MEANS TO LIMIT THE USE AND DISCLOSURE OF PERSONAL DATA
SMBC SOFOM has created an exclusion list for individuals that do not wish to receive advertisement or information from SMBC SOFOM, by means of which You could limit the use of your personal data. If You receive advertisement or information from SMBC SOFOM and You don’t want to keep receiving it, You shall send an e-mail with your full name to anabel_castaneda@smbcsofom.com, requesting your elimination from said list. Through that same e-mail You might ask for more information regarding said list.
Additionally, the Data Subject can register in the Public Registry of Users provided by the Federal Law on Protection and Defense of the User of Financial Services with the purpose of limiting the use and disclosure of his personal data. This Registry (REUS), allows to the Data Subject to register in a database to limit promotional calls or e-mails, seeking to maintain the safety of his privacy and avoid the troubles caused by said calls or e-mails. The Data Subject shall be able to register to the REUS through the process established in the following website: www.condusef.gob.mx
IX. CHANGES TO THE PRIVACY NOTICE
This privacy notice will be made available to the Data Subject through printed, digital and visual formats, and will be available at SMBC SOFOM’s web page. Likewise, the amendments made to this privacy notice will be sent to the Data Subject by said means.
It is hereby noted that this privacy notice is made in Spanish and English, on the understanding that, in the event of any controversy arising from their interpretation, the Spanish version shall prevail.
By singing this privacy notice, the Data Subject consents that his personal data shall be processed by SMBC SOFOM, as provided by privacy notice, intended for the purposes aforementioned and transferred only to the third parties provided herein.
Spanish Version
Acerca de nosotros
Las Sociedades Financieras de Objeto Múltiple (SOFOMes) son un tipo de sociedades en México, cuyo objeto principal es la realización de una o más de las actividades de otorgamiento de crédito, arrendamiento o factoraje financieros; este tipo de sociedades deben contar con un registro vigente ante la Comisión Nacional para la Protección y Defensa de los Usuarios de Servicios Financieros.
Este tipo de sociedades funcionan de manera similar a un banco, excepto que no se les permite la captación de recursos del público en general y no están fuertemente supervisadas por las autoridades mexicanas.
En marzo de 2015, SMBC SOFOM inició oficialmente sus operaciones con un solo producto autorizado - Préstamos a Plazo (Single Draw).
Productos y servicios
Actualmente SMBC SOFOM cuenta con los siguientes servicios:
- Préstamos a plazo únicos y de disposición diferida (sujetos a la cobertura de liquidez mediante capital)
- Crédito Revolvente / GTFD (sujeto a la cobertura de liquidez utilizando el capital)
- Financiamiento de Proyectos - Utilizando la facilidad de financiamiento de Banobras (Banco de Desarrollo) (financiamiento a largo plazo en MXN)
- Arrendamientos financieros (MXN o USD)
- Derivados
Unidad Especializada de Atención a Usuarios
La Unidad Especializada de Atención a Usuarios (UNE) de SMBC SOFOM tiene por obje
o atender las Consultas, Reclamaciones y Aclaraciones de los Usuarios de los servicios prestados por ésta y deberá proporcionar a la Comisión Nacional para la Protección y Defensa de los Usuarios de Servicios Financieros (CONDUSEF) la información relativa a la UNE y la manera de identificar o localizar a su titular.
En ese sentido, SMBC SOFOM deberá recibir las referidas Consultas, Reclamaciones y Aclaraciones por parte de sus clientes, a través de los Medios de Recepción que designe para tales efectos, acusar de recibo a los clientes, asignar número de folio e indicar el tiempo de respuesta o resolución. Asimismo, deberá comunicar al cliente la resolución o respuesta correspondiente por el medio que éste haya indicado, o bien, por el que se presentó la Consulta, Reclamación y Aclaración, indicando los motivos que la sustenten y, en su caso, adjuntando la documentación respectiva.
En caso de cualquier Consulta, Reclamación o Aclaración, favor de enviarla a:
Anabel Castañeda Medrano
Directora General| SMBC, S.A.P.I. de C.V., SOFOM, E.N.R.
Torre Virreyes, Pedregal 24, Piso 5, Col. Molino del Rey, Cd. de México, 11040
Tel: +52 (55) 9688 8483 | +52 (55) 2623 1373 | Cel: +52 56 2560 7137
E-mail: anabel_castaneda@smbcsofom.com
Si no está satisfecho con las medidas adoptadas por SMBC SOFOM para resolver su Consulta, Reclamación o Aclaración, le sugerimos contactar la Comisión Nacional para la Protección y Defensa de los Usuarios de Servicios Financieros, organismo público, el cual tiene por objeto la protección y defensa de los derechos e intereses del público usuario de los servicios financieros, que prestan las instituciones públicas, privadas y del sector social debidamente autorizadas para operar en México.
La CONDUSEF también cuenta con Unidades de Atención a Usuarios, mediante los cuales se pueden presentar escritos que establezcan la inconformidad del Usuario con alguna Entidad Financiera que se encuentre bajo la supervisión de dicha autoridad.
Buró de Entidades Financieras
Es una herramienta de consulta y difusión con la que podrás conocer los productos que ofrecen las entidades financieras, sus comisiones y tasas, las reclamaciones de los usuarios, las prácticas no sanas en que incurren, las sanciones administrativas que les han impuesto, las cláusulas abusivas de sus contratos y otra información que resulte relevante para informarte sobre su desempeño.
Con el Buró de Entidades Financieras, se logrará saber quién es quién en bancos, seguros, sociedades financieras de objeto múltiple, cajas de ahorro, afores, entre otras entidades.
Con ello, podrás comparar y evaluar a las entidades financieras, sus productos y servicios y tendrás mayores elementos para elegir lo que más te convenga.
Esta información te será útil para elegir un producto financiero y también para conocer y usar mejor los que ya tienes.
Este Buró de Entidades Financieras, es una herramienta que puede contribuir al crecimiento económico del país, al promover la competencia entre las instituciones financieras; que impulsará la transparencia al revelar información a los usuarios sobre el desempeño de éstas y los productos que ofrecen y que va a facilitar un manejo responsable de los productos y servicios financieros al conocer a detalle sus características.
Lo anterior, podrá derivar en un mayor bienestar social, porque al conjuntar en un solo espacio tan diversa información del sistema financiero, el usuario tendrá más elementos para optimizar su presupuesto, para mejorar sus finanzas personales, para utilizar correctamente los créditos que fortalecerán su economía y obtener los seguros que la protejan, entre otros aspectos.
La información corresponde únicamente a SMBC, S.A.P.I. de C.V., SOFOM, E.N.R., para conocer la información de todo el sector al que corresponda, se podrá acceder al sitio http://www.buro.gob.mx
Aviso de privacidad para representantes legales y/o accionistas de clientes
I. RESPONSABLE
SMBC, S.A.P.I. de C.V., SOFOM, E.N.R. (en lo sucesivo, “SMBC SOFOM”) con domicilio en Torre Virreyes - Pedregal No. 24, Piso 5, Int.502-A, Col. Molino del Rey, Delegación Miguel Hidalgo, Ciudad de México, C.P. 11040 al momento de recabar sus datos personales, es responsable del uso y protección de los mismos.
II. DATOS PERSONALES
SMBC SOFOM recabará de Usted (en adelante el "Titular") los siguientes datos personales en su calidad de accionista de uno de nuestros clientes:
- Datos de Contacto;
- Datos de Identificación;
- Datos de Localización;
- Datos Laborales; y
- Datos Patrimoniales, según aplique.
III. DATOS PERSONALES SENSIBLES
SMBC SOFOM no recaba ningún tipo de datos personales sensibles del Titular. Por datos personales sensibles debemos entender de conformidad con la Ley Federal de Protección de Datos Personales en Posesión de los Particulares (la “Ley”), aquellos datos personales que afecten la esfera más íntima de su Titular, o cuya utilización indebida pueda dar origen a discriminación o conlleve un riesgo grave para éste. En particular, se consideran sensibles aquellos que puedan revelar aspectos como origen racial o étnico, estado de salud presente y futuro, información genética, creencias religiosas, filosóficas y morales, afiliación sindical, opiniones políticas o preferencia sexual.
IV. MEDIOS DE OBTENCIÓN Y ACTUALIZACIÓN
Los datos personales serán obtenidos observando siempre el cumplimiento de los principios de licitud, consentimiento, información, calidad, finalidad, lealtad, proporcionalidad y responsabilidad. Dichos datos serán contenidos en bases de datos pertinentes y actualizadas a través de:
- Medios locales
- Remotos o electrónicos,
- Ópticos, o
- Mediante el uso de otras tecnologías que permitan recabar los datos de forma automática o simultánea al momento en que el Titular contacte a SMBC SOFOM.
V. FINALIDADES DEL TRATAMIENTO
El tratamiento de datos personales únicamente se limitará al cumplimiento de las finalidades previstas en este apartado. Por esto mismo, el tratamiento de datos personales será exclusivamente el que resulte necesario, adecuado y relevante en relación con las finalidades previstas en este apartado.
- Las finalidades primarias que dan origen y son necesarias para el mantenimiento y cumplimiento de la relación jurídica entre SMBC SOFOM y el Titular son las siguientes:
- Llevar a cabo la identificación y conocimiento del Titular, así como la integración de su expediente;
- En su caso, incorporar sus datos en los instrumentos jurídicos necesarios para la formalización de los contratos que el cliente del cual Usted es accionista o representante, pretende celebrar con SMBC SOFOM;
- Ceder o transmitir a un tercero, mediante cualquier medio, los derechos y/u obligaciones derivadas de los contratos antes señalados;
- Utilizar los datos personales, en cualquier tipo de acto o diligencia de cobranza judicial o extrajudicial, y
- Cumplir con todas las leyes, reglamentos y disposiciones de carácter general aplicables.
- Las finalidades secundarias que no son necesarias para el mantenimiento y cumplimiento de la relación jurídica entre SMBC SOFOM y el Titular, son las siguientes:
- Envío de noticias, invitaciones a eventos de SMBC SOFOM y de SUMITOMO MITSUI BANKING CORPORATION y/o sus subsidiarias y filiales.
- Encuestas para mejorar nuestro servicio.
- La mercadotecnia, publicidad y/o promoción de los productos y/o servicios que sean ofrecidos por SMBC SOFOM al Titular, por cualquier medio material y/o electrónico.
VI. TRANSFERENCIA DE DATOS
Los datos personales del Titular se transferirán a nivel nacional e internacional, a las personas o entidades ubicadas en los siguientes tipos, categorías o sectores, quienes asumirán las mismas obligaciones que le corresponden a SMBC SOFOM. Dicha transferencia de datos se hará exclusivamente con las siguientes finalidades:
A. SUMITOMO MITSUI BANKING CORPORATION, a otras sociedades controladoras, subsidiarias o afiliadas bajo el control común de SMBC SOFOM, o a una sociedad matriz o a cualquier sociedad del mismo grupo de SMBC SOFOM, que operen bajo los mismos procesos y políticas internas, con la finalidad de:
- Llevar a cabo la identificación y conocimiento del Titular, así como la integración de su expediente;
- En su caso, incorporar sus datos en los instrumentos jurídicos necesarios para la formalización de los contratos que el cliente del cual Usted es accionista o representante, pretende celebrar con SMBC SOFOM;
- Ceder o transmitir a un tercero, mediante cualquier medio, los derechos y/u obligaciones derivadas de los contratos antes señalados, siempre y cuando dicho contrato sea en interés del Titular;
- Utilizar los datos personales, en cualquier tipo de acto o diligencia de cobranza judicial o extrajudicial,
- Cumplir con todas las leyes, reglamentos y disposiciones de carácter general aplicables; y
- Compartirlo a las autoridades nacionales y extranjeras competentes, con la finalidad de dar cumplimiento a alguna ley, reglamento o disposición legal aplicable.
- Cualquier otra transferencia permitida conforme a la Ley.
Por favor considerar que no será necesario tener su consentimiento para llevar a cabo:
- la transferencia indicada en el inciso A. de la sección anterior, por encontrarse en el supuesto establecido en la fracción III del artículo 37 de la Ley Federal de Protección de Datos Personales en Posesión de los Particulares y
- aquellas transferencias que se encuentren dentro de los supuestos establecidos en el Artículo 37 de la Ley Federal de Protección de Datos Personales en Posesión de los Particulares.
VII. DERECHOS “ARCO”
Si en cualquier momento el Titular por sí o mediante su representante legal debidamente autorizado, desea ejercer sus derechos de acceso, rectificación, cancelación u oposición al tratamiento de sus datos personales (los “Derechos ARCO”) podrá solicitar un formato para ejercer dichos derechos, a través de cualquiera de los siguientes medios:
- Asistir personalmente al “Departamento de Protección de Datos Personales” con domicilio en Torre Virreyes - Pedregal No. 24, Piso 5, Int.502-A, Col. Molino del Rey, Delegación Miguel Hidalgo, Ciudad de México, C.P. 11040 Tel: +52 (55) 9688 8483 | +52 (55) 2623 1373 | Cel: +52 56 2560 7137 y, en un horario de atención de lunes a viernes de [9:00 a 14:00 horas y de 16:00 a 19:00] horas; o
- Mediante el envío de un correo electrónico a la dirección anabel_castaneda@smbcsofom.com, a la atención de Departamento de “Protección de Datos Personales” con el nombre y los datos de contacto del Titular.
El formato de ejercicio de Derechos ARCO se deberá llenar, firmar y presentarse acompañado de la siguiente documentación, a fin de que pueda llevarse a cabo la autenticación del Titular:
- Identificación oficial vigente del Titular (Credencial del Instituto Nacional Electoral, Pasaporte, Cartilla del servicio Militar Nacional o Cédula Profesional).
- En los casos en que el ejercicio de los Derechos ARCO se realice a través del representante legal del Titular, deberá acompañarse la identificación oficial del representante, así como el poder correspondiente protocolizado que acredite la representación legal conferida por el Titular.
- Un comprobante de domicilio o cualquier otro medio para comunicarle la respuesta de su solicitud al Titular.
- La descripción clara y precisa de los datos personales respecto del derecho que se pretende ejercer. Es especialmente importante que cuando se ejerza el derecho de rectificación, se exhiba la documentación que acredite el cambio solicitado de acuerdo con los datos personales a rectificar.
SMBC SOFOM responderá a dicho formato después de 20 (veinte) días hábiles contados a partir de la fecha en que fue recibida dicha solicitud. La resolución adoptada por SMBC SOFOM será comunicada al Titular a través de las opciones elegidas por éste en el formato de ejercicio de Derechos ARCO. Asimismo, en caso de que dicha resolución sea procedente, SMBC SOFOM la hará efectiva en un plazo de 15 (quince) días siguientes a la fecha en que se comunica la respuesta. Es menester mencionar que dichos plazos podrán ser ampliados en una única ocasión y sólo por un periodo igual, siempre y cuando así lo justifiquen las circunstancias del caso, previa notificación al Titular.
En caso de que Usted desee revocar su consentimiento o negarse al tratamiento de sus datos personales para las finalidades Secundarias, con posterioridad a la firma del presente Aviso de Privacidad, deberá acudir al Departamento de Protección de Datos Personales o enviar un correo electrónico a la dirección indicada en la sección anterior. Tratándose de datos personales que no se hubieren recabado directamente del Titular, éste tendrá 5 (cinco) días hábiles para manifestar su negativa al tratamiento de sus datos personales.
VIII. MEDIOS PARA LIMITAR EL USO Y DIVULGACIÓN DE LOS DATOS PERSONALES
SMBC SOFOM ha creado un listado de exclusión para personas que no deseen recibir publicidad o información de SMBC SOFOM mediante el cual Usted podrá limitar el uso de sus datos personales. Si Usted recibe publicidad o información de SMBC SOFOM y no desea seguir recibiéndola, podrá enviar un correo electrónico con su nombre completo a anabel_castaneda@smbcsofom.com, solicitando su eliminación de la lista de distribución con base en la cual se lleva a cabo el envío de la información o publicidad. En el mismo correo electrónico podrá solicitar más datos acerca de este listado.
Adicionalmente, el Titular podrá inscribirse en el Registro Público de Usuarios conforme a la Ley de Protección y Defensa al Usuario de Servicios Financieros con la finalidad de limitar el uso y divulgación de sus datos personales. Este registro (REUS), permite que el Titular se inscriba en una base de datos a fin de restringir llamadas promocionales o correos electrónicos, buscando mantener a salvo su privacidad y evitar las molestias que causan estas llamadas o envío de información. El Titular podrá registrarse al REUS a través de los medios que se establecen en la siguiente página de Internet: www.condusef.gob.mx.
IX. CAMBIOS AL AVISO DE PRIVACIDAD
El presente aviso de privacidad se pondrá a disposición del Titular a través de formatos impresos, digitales. y visuales, y estará disponible para su consulta en la página de internet de SMBC SOFOM. De igual forma, las modificaciones que se hagan al presente aviso de privacidad, serán enviadas al Titular por dichos medios.
Se toma nota de que el presente aviso de privacidad se transcribe en idioma inglés y español, en el entendido de que, en caso de cualquier controversia sobre su interpretación, la versión en español prevalecerá.
Al firmar el presente aviso de privacidad, el Titular consiente que sus datos personales sean tratados por SMBC SOFOM conformidad con lo previsto en el presente aviso de privacidad, destinados para las finalidades indicadas en el presente y transferidos a los terceros establecidos aquí establecidos
Contacto
Anabel Castañeda Medrano
Directora General| SMBC, S.A.P.I. de C.V., SOFOM, E.N.R.
Torre Virreyes, Pedregal 24, Piso 5, Col. Molino del Rey, Cd. de México, 11040
Tel: +52 (55) 9688 8483 | +52 (55) 2623 1373 | Cel: +52 56 2560 7137
Email: anabel_castaneda@smbcsofom.com