CCF Action Plan

Each year, SMFG renews and promotes its CCF Action Plan (Customer Comes First & Compliance Comes First), as the basis for respective Business Units to reinforce the customer-centric mind-set (to maximize CS) and to fully satisfy the compliance requirements through daily operation.

In line with this, important measures are being pursued by respective business units as follows:

Retail Business Unit

Important Measures for FY2017

[Basic Policy]

  • ●Thoroughly disseminate our stance of “customer comes first” throughout the entire Retail Business Unit
  • ●Establish a renewed compliance system reflecting the shift to group-wide Business Units-based management
  • ●Ensure complete compliance relating to collaboration between Group companies which belong to the Retail Business Unit
  • ●Understand compliance-related issues and establish necessary control and supervision system for the business of the Group companies

[Important Measures]

  • ●Review the existing compliance system from the standpoint of customer comes first
  • ●Ensure thorough information management including compliance with the firewall regulations
  • ●Furthermore strengthen the compliance system based on effective collaboration between Group companies

Wholesale Business Unit

Important Measures for FY2017
  • ●Ensure appropriate business conduct throughout SMFG where all units are closely integrated with each other, and ensure complete compliance
    • ●Ensure adequate business conduct based on customer needs, merits and suitability
    • ●Ensure complete compliance within respective groups throughout SMFG, which shall be the basis of adequate provision of our services
      • ●Completely ensure conflicts of interest management
      • ●Prevent abuse of superior bargaining position
      • ●Comply with the regulations for segregation of duties
      • ●Comply with the firewall regulations
  • ●Strengthen the compliance system of the Group companies
    • ●Strengthen the compliance management system for the business of the Group companies which belong to the Wholesale Business Unit of SMFG (SMBC, SMBC Nikko Securities, SMBC Trust Bank, and Sumitomo Mitsui Finance and Leasing)

International Business Unit

Important Measures for FY2017
  • ●Agile response to regulatory demands and sanction requirements, in accordance with the changes in the international situation
    • ●Strengthen monitoring of the moves taken by foreign countries under increasingly uncertain environment as well as of any material regulatory changes
    • ●Keep strengthening necessary organizational system to meet the enhanced requirements of AML
    • ●Adequately handle international tax matters (OECD BEPS/CRS, etc.)
  • ●Steps toward a strengthened compliance system for the overseas operation
    • ●Cultivate group-based compliance culture
    • ●Improve and strengthen collaboration between domestic entities and overseas entities under the group-wide Business Units-based management
    • ●Have the GRC*1system take root among each entity, and consider its possible rationalization over the medium to long run
  1. *1GRC (Governance, Risk, Compliance) is a sort of MIS (Management Information System) to support the standard set of compliance activities commonly shared among overseas entities.

Global Markets Business Unit

Important Measures for FY2017
  • ●Establish a renewed compliance management system for the Unit
    • ●Understand compliance-related issues and establish necessary control and supervision system for the Group companies comprising the Global Markets Business Unit of SMFG
    • ●Ensure appropriate business conduct with the mindset of customer comes first
  • ●Prepare and implement business strategy with emphasis on compliance
    • ●Prepare business plan with an eye on the compliance requirements, and review the same during the term as necessary
    • ●Ensure complete compliance through the implementation processes of business strategy such as sales and trading