Brexit

Sustained and reliable banking services without disruption

In response to the planned withdrawal of the United Kingdom from the European Union, SMBC Group has taken steps to ensure that it can continue to offer its clients in the European Economic Area (EEA) sustained and reliable banking services without disruption.

As announced on 15 November 2018, SMBC has been granted approval by the European Central Bank to establish a banking subsidiary in Frankfurt, Germany. SMBC Nikko Securities Inc announced on 22 October 2018 that it has been granted approval by the Bundesanstalt für Finanzdienstleistungsaufsicht (German Federal Financial Supervisory Authority) (BaFin) to establish a securities subsidiary in Frankfurt, Germany. The banking and securities subsidiaries are now registered as SMBC Bank EU AG and SMBC Nikko Capital Markets Europe GmbH respectively and both entities started serving customers from March 2019.

SMBCE continues to serve customers in the United Kingdom and in non-EEA countries across Europe, the Middle East and Africa and will continue to do so once the United Kingdom leaves the European Union. If you have any queries please contact our Brexit team at brexit@gb.smbcgroup.com.

PDF Ready for Brexit

Customer Terms & Conditions

Notice to customers

PDF Notice to customers (SMBC Brussels)

PDF Notice to customers (SMBC Düsseldorf and Frankfurt)

PDF Notice to customers (SMBC London)

PDF Notice to customers (SMBCE London)

PDF Notice to customers (SMBCE Paris)

PDF Notice to customers (SMBC EU)

En français (in French)

PDF Note d'information à l'attention des clients (SMBCE Paris)

Current accounts and payments

The following agreements govern the terms and conditions for customers holding or conducting current account and payment transactions.

PDF Current account and payment services agreement (SMBC Brussels)

PDF Current account and payment services agreement (SMBCE London)

PDF Current account and payment services agreement (SMBCE Paris)

En français (in French)

PDF Convention de compte courant et de services de paiement (SMBCE Paris)

Cash management services

The following agreements govern the terms and conditions associated with the cash management services that SMBC Group provides to its customers.

PDF Cash management services T&Cs (SMBC Brussels)

PDF Cash management services T&Cs (SMBCE London)

PDF Cash management services T&Cs (SMBCE Paris)

En français (in French)

PDF Conditions et modalités des services de gestion de trésorerie (SMBCE Paris)

Germany

The following terms and conditions govern the business relationship customers have with SMBC’s Düsseldorf and Frankfurt branches and SMBC EU.

PDF General business T&Cs (SMBC Düsseldorf and Frankfurt)

PDF Remote data transmission T&Cs (SMBC Düsseldorf and Frankfurt)

PDF Credit transfers T&Cs (SMBC Düsseldorf and Frankfurt)

PDF Direct debit T&Cs (SMBC Düsseldorf and Frankfurt)

PDF Direct debit B2B T&Cs (SMBC Düsseldorf and Frankfurt)

PDF General business T&Cs (SMBC EU)

Auf Deutsch (in German)

PDF Allgemeine Geschäftsbedingungen (SMBC Düsseldorf und Frankfurt)

PDF Bedingungen für den Lastschrifteinzug (SMBC Düsseldorf und Frankfurt)

PDF Bedingungen Online Banking (SMBC Düsseldorf und Frankfurt)

PDF DFÜ-Bedingungen (SMBC Düsseldorf und Frankfurt)

PDF Bedingungen Überweisungsverkehr (SMBC Düsseldorf und Frankfurt)

PDF Bedingungen für Zahlungen mittels Lastschrift im SEPA-Basislastschriftverfahren (SMBC Düsseldorf und Frankfurt)

PDF Bedingungen für Zahlungen mittels Lastschrift im SEPA-Firmenlastschriftverfahren (SMBC Düsseldorf und Frankfurt)

PDF Allgemeine Geschäftsbedingungen (SMBC EU)

Libor

The future of Libor

The purpose of this document is to provide information to SMBC Group customers and counterparties regarding the likely discontinuation of the London interbank offered rate (Libor) and to outline key aspects of this forthcoming change.

PDF Libor discontinuation FAQs

MiFID II

The Markets in Financial Instruments Directive (MiFID I) came into force on November 2007. The aim of MiFID I was to harmonise investor protection regulation and increase competition in the European Union (EU) financial markets. With the evolution of investment products, technological advances and the financial crisis of 2008, an EU review of MiFID I led to the decision to enhance the regulatory framework through the implementation of the Markets in Financial Instruments Directive Two (MiFID II), which came into force on 3 January 2018. The purpose of this information is to outline important aspects of the legislation. This information is not exhaustive and does not constitute legal or regulatory advice and we recommend that you obtain your own advice to assist in understanding how MiFID II will impact your business.

SMBC is a global bank incorporated in Japan. The entities in scope for MiFID II are SMBC, which operates in the European Economic Area (EEA) through its branches, and its subsidiaries SMBCE and SMBC EU.

Objectives of MiFID II

  • Strengthen investor protection by enhancing organisational and conduct of business requirements
  • Increase the transparency and efficiency of financial markets and reduce systemic risks by strengthening market structures and extending the pre- and post-trade transparency regime as well as trading obligations requirements
  • Introducing a third country equivalence regime to allow investment firms take advantage of potential passporting opportunities.

Legal entity identifiers

A legal entity identifier (LEI) is a unique, alpha-numeric code of 20 characters which identifies legal entities that engage in financial transactions with investment firms in the EEA. When an LEI code is allocated, it is included in the Global LEI Foundation database. This enables every legal entity or structure that is party to a relevant financial transaction to be identified in any jurisdiction.

You will need to have an LEI to trade with SMBC Group for in-scope MiFID II transactions within the EEA, irrespective of where you are located. You must register with an authorised local operating unit (LOU) which issues LEIs. A list of all authorised LOUs can be found on the Global LEI Foundation website. LEIs must be renewed annually. To do this you must provide the LOU with updated information so that they can verify the data held on the LEI.

LEI of SMBCE and its branches: NT7C58H5HPZYKZDPOO64
LEI of SMBC EU and its branches: 9676007O0UF5YB3QPR03
LEI of SMBC and its EEA branches: 5U0XI89JRFVHWIBS4F54

Systematic internaliser

A systematic internaliser (SI) is an investment firm which, on an organised, frequent, systematic and substantial basis deals on own account by executing client orders outside a regulated market, a multilateral trading facility or an organised trading facility without operating a multilateral system.

From 24 October 2018, the following entities are SIs for foreign exchange (FX) derivatives that are traded on a trading venue with the corresponding SI market identifier codes (MICs):

MIC Legal entity name
SMBE SMBCE
SMBP SMBCE Paris
SMBB SMBC Brussels
SMBD SMBC Düsseldorf
SMBG SMBC London
SMFF SMBC EU Frankfurt

Please note, the European Securities & Markets Authority (ESMA) has deemed the entire FX derivatives asset class as an illiquid market.

The SI commercial policy applies to business conducted on FX derivatives markets where SMBC Group has authorisation to carry out regulated activity in financial instruments as defined in MiFID II in the EEA.

PDF Systematic internaliser commercial policy

Order execution

The order execution policy applies to business conducted with professional and retail clients of SMBC Group in the EEA. It is designed to inform SMBC Group's clients on how transactions are executed to provide a general understanding of SMBC Group’s dealing arrangements by product type in line with the best execution requirements as defined in MiFID II. SMBC Group will need to obtain your prior consent to the policy and your express consent to executing any orders outside of a trading venue. The policy is reviewed on an annual basis or where there is a material change that affects our ability to obtain best execution. Please note that this policy does not apply to eligible counterparties unless agreed otherwise.

PDF Order execution policy

En français (in French)

PDF Politique d’exécution des ordres

PDF Formulaire de notification de consentement

Risk disclosure

The risk disclosure notice contains a general description of the principal risks arising from financial instruments which are generally offered to clients.

PDF General description of the nature and risks of financial instruments

Conflicts of interest

Under MiFID II, SMBC Group is required to maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to identify, monitor and manage conflicts of interest.

PDF Summary of conflicts of interest policy

En français (in French)

PDF Résumé de la politique de gestion des conflits d’intérêts

RTS 27

Under MiFID II, SMBC Group is required to take all sufficient steps to obtain the best possible result for clients when executing their orders. Moreover, as a liquidity provider, SMBC Group is under an obligation to publish quarterly reports on the quality of execution of transactions, known as the RTS 27 report. It includes details about the price, costs, speed, and likelihood of execution for each type of financial instrument in respect of which we act as a liquidity provider.

RTS 27 reports are available below and have been prepared on best efforts basis. SMBC Group reserves the right to amend the reports if deemed necessary.

2019 Q2

Period covering 1 April 2019 to 30 June 2019.

CSV RTS 27 report (SMBC – 2019 Q2)

CSV RTS 27 report (SMBCE – 2019 Q2)

CSV RTS 27 FX options table 2 (2019 Q2)

CSV RTS 27 FX options table 3 (2019 Q2)

CSV RTS 27 FX options table 4 (2019 Q2)

CSV Type of execution venue (SMBC – 2019 Q2)

CSV Type of execution venue (SMBCE – 2019 Q2)

2019 Q1

Period covering 1 January 2019 to 31 March 2019.

CSV RTS 27 report (SMBC – 2019 Q1)

CSV RTS 27 report (SMBCE – 2019 Q1)

CSV RTS 27 FX options table 2 (2019 Q1)

CSV RTS 27 FX options table 3 (2019 Q1)

CSV RTS 27 FX options table 4 (2019 Q1)

CSV Type of execution venue (SMBC – 2019 Q1)

CSV Type of execution venue (SMBCE – 2019 Q1)

2018 Q4

Period covering 1 October 2018 to 31 December 2018.

CSV RTS 27 report (SMBC – 2018 Q4)

CSV RTS 27 report (SMBCE – 2018 Q4)

CSV RTS 27 FX options table 2 (2018 Q4)

CSV RTS 27 FX options table 3 (2018 Q4)

CSV RTS 27 FX options table 4 (2018 Q4)

CSV Type of execution venue (SMBC – 2018 Q4)

CSV Type of execution venue (SMBCE – 2018 Q4)

2018 Q3

Period covering 1 July 2018 to 30 September 2018.

CSV RTS 27 report (SMBC – 2018 Q3)

CSV RTS 27 report (SMBCE – 2018 Q3)

CSV RTS 27 FX options table 2 (2018 Q3)

CSV RTS 27 FX options table 3 (2018 Q3)

CSV RTS 27 FX options table 4 (2018 Q3)

CSV Type of execution venue (SMBC – 2018 Q3)

CSV Type of execution venue (SMBCE – 2018 Q3)

2018 Q2

Period covering 1 April 2018 to 30 June 2018.

CSV RTS 27 report (SMBC – 2018 Q2)

CSV RTS 27 report (SMBCE – 2018 Q2)

CSV RTS 27 FX options table 2 (2018 Q2)

CSV RTS 27 FX options table 3 (2018 Q2)

CSV RTS 27 FX options table 4 (2018 Q2)

CSV Type of execution venue (SMBC – 2018 Q2)

CSV Type of execution venue (SMBCE – 2018 Q2)

2018 Q1

Period covering 1 January 2018 to 31 March 2018.

CSV RTS 27 report (SMBC – 2018 Q1)

CSV RTS 27 report (SMBCE – 2018 Q1)

CSV RTS 27 FX options table 2 (2018 Q1)

CSV RTS 27 FX options table 3 (2018 Q1)

CSV RTS 27 FX options table 4 (2018 Q1)

CSV Type of execution venue (SMBC – 2018 Q1)

CSV Type of execution venue (SMBCE – 2018 Q1)

Cost information

CSV Cost information (SMBC)

CSV Cost information (SMBCE)

RTS 28

Top five execution venues in terms of trading volumes for all executed client orders per class of financial instruments and a summary of the analysis and conclusions drawn from detailed monitoring.

PDF Summary of monitoring and top five execution venues (SMBC)

PDF Summary of monitoring and top five execution venues (SMBCE)

Packaged retail and insurance-based investment products

Packaged retail and insurance-based investment product (PRIIP) regulation requires, from 1 January 2018, product manufacturers to create, maintain and distribute key information documents (KIDs) in plain language for retail investors living in the European Economic Area (EEA) to easily understand and compare products.

Definition of PRIIP

According to the regulation, PRIIP means an investment where, regardless of the legal form of the investment, the amount repayable to the retail investor is subject to fluctuations because of exposure to reference values or to the performance of one or more assets which are not directly purchased by the retail investor.

What are the goals of the PRIIP regulation?

KIDs for PRIIPs are part of a drive by the European Union (EU) to increase transparency and efficiency in the retail investment market. The EU wants to help consumers (non-professionals) better understand the investments they are buying, and make the retail investment market easier for consumers to navigate as a result.

What are KIDs for PRIIPs?

The KID is a three-page document outlining the investment’s risks and costs. Acting as a quick reference guide to the PRIIP, KIDs follow strict design and content guidelines. They are produced in at least one official language of each country where the product is marketed, and are regularly reviewed and updated.

The content of the KID is defined by EU legislations and includes:

  • The type of PRIIP, its objectives, and how it achieves them (such as the underlying instruments)
  • The consumer type to which the PRIIP is intended to be marketed
  • A narrative explanation of the risks
  • The possible maximum capital loss, and any other financial risks.

No guarantee or undertaking as to future performance

The future performance of an investment cannot be deduced from a previous market value, which means that the value of an investment can rise or fall. Good performance in the past is no guarantee of future good performance. SMBC Group gives no undertaking or guarantee of performance in respect of any specific investment.

KIDs

PDF FX forward (SMBC Brussels)

PDF FX forward (SMBC Düsseldorf)

PDF FX call option (SMBC Brussels)

PDF FX call option (SMBC Düsseldorf)

Auf Deutsch (in German)

PDF FX forward (SMBC Düsseldorf)

Please contact your relationship manager for customised KIDs with different currency pairs, languages, tenors or expiration days.

Privacy

SMBC Group hereby announces its privacy policy regarding customer information, which sets forth the SMBC Group policies for the handling of customers’ personal information and SMBC Group’s basic approach to the protection and safeguarding of personal information within the SMBC Group EMEA region.

Management of personal information

SMBC Group recognises that the proper use and safeguarding of personal information is an important social responsibility. As such, SMBC Group makes every effort to ensure that, in carrying out its business operations, customers’ personal information is properly used and safeguarded, and that the Personal Information Protection Law of Japan, those of other applicable jurisdictions, and other information-control related laws and regulations, as well as SMBC Group EMEA region internal rules and regulations (including this policy), are strictly observed.

Collection of information

SMBC Group collects only personal information that is necessary for it to conduct its business operations. Only legal and appropriate methods are used in the collection of such personal information.

Use of personal information

SMBC Group designates specific purposes for which customers’ personal information will be used and the personal information will be used only as necessary to achieve those purposes. SMBC Group will not use the personal information for any other purposes. In cases where the use of specific personal information is regulated or restricted by laws, SMBC Group will limit its use to comply with such applicable laws and regulations. The purposes for which SMBC Group uses customers’ personal information are disclosed on its website. For further information please contact the relevant branch or subsidiary.

Providing personal information to third parties

SMBC Group ensures that it does not provide customers’ personal information to any third party without the customer’s prior consent unless otherwise obliged by any applicable law.

Sensitive information

SMBC Group does not collect, use, or provide to third parties any sensitive information (for example, political affiliation, religion, race or ethnic group) unless required by law or such information is necessary in order to conduct business (and then, only with the customer’s consent).

Security measures and safeguards

SMBC Group stores and manages customers’ personal information, endeavouring to keep it current and accurate, while at the same time employing appropriate security measures and safeguards to prevent leakages and other problems. SMBC Group also maintains necessary and appropriate supervision and oversight of employees and service providers who handle personal information.

Continuous improvement

SMBC Group will review and revise this policy on an ongoing basis, taking into account new developments in information technology, changes in societal demands, and other relevant factors. Through these efforts, SMBC Group aims to improve management of its customers’ personal information on an ongoing basis.

Customer requests concerning personal information

SMBC Group will endeavour to properly and promptly respond to customer requests for:

  • Notification of the purpose for which SMBC Group uses personal information
  • Disclosure of the customer’s personal information held by SMBC Group
  • Correction, addition, or deletion of personal information in cases where there are errors in the customer’s personal information held by SMBC Group
  • Suspension of use or complete deletion of the customer’s personal information held by SMBC Group
  • Termination of providing the customer’s personal information to third parties.

Comments and requests

SMBC Group will make every effort to respond quickly and conscientiously to customers’ comments, opinions, and requests concerning the handling of personal information. For further enquiries, please contact the relevant branch or subsidiary.

Data privacy notices for customers, suppliers and agents

 

PDF Privacy notice for business contacts (SMBC and SMBCE London)

PDF Privacy notice for business contacts (SMBC EU Amsterdam)

PDF Privacy notice for business contacts (SMBC Brussels)

PDF Privacy notice for business contacts (SMBC DIFC Branch – Dubai)

PDF Privacy notice for business contacts (SMBC EU Dublin)

PDF Privacy notice for business contacts (Sumitomo Mitsui Finance Dublin Ltd)

PDF Privacy notice for business contacts (SMBC Düsseldorf and Frankfurt)

PDF Privacy notice for business contacts (SMBC EU Frankfurt)

PDF Privacy notice for business contacts (SMBC EU Madrid)

PDF Privacy notice for business contacts (SMBC EU Milan)

PDF Privacy notice for business contacts (SMBCE Paris)

PDF Privacy notice for business contacts (SMBC EU Prague)

En español (in Spanish)

PDF Aviso de privacidad para contactos comerciales (SMBC EU Madrid)

En français (in French)

PDF Politique de confidentialité pour les contacts professionnels (SMBCE Paris)

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