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Compliance Risk Assessment Frameworks in Japan: A Key Component of Trust Bank’s Management Principles

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In its pursuit of becoming a trusted financial institution, SuMi TRUST Holdings has made compliance a top priority. The company has established a comprehensive compliance risk assessment framework to ensure that all business activities are conducted fairly and transparently.

Compliance Risk Assessment Framework

The framework is designed to identify, assess, and mitigate potential risks related to:

  • Bribery
  • Corruption
  • Insider trading
  • Tax evasion
  • Transactions with antisocial forces
  • Fair competition

Initiatives to Ensure Compliance

To achieve compliance, SuMi TRUST Holdings has implemented a range of initiatives, including:

Training for Directors, Officers, and Employees

Regular training is provided to directors, officers, and employees on compliance issues to ensure that everyone understands the importance of compliance.

Reporting and Responding to Potential Violations

The company has a robust system in place for reporting and responding to potential violations of its code of conduct.

Conducting Business Activities Fairly and Transparently

SuMi TRUST Holdings ensures that all transactions are conducted at arm’s length, with no preferential treatment for any individual or entity. This is an essential component of the company’s framework for conducting business activities fairly and transparently.

Tax Compliance

The company recognizes the importance of tax compliance and has established a basic policy on tax compliance to ensure that it properly fulfills its tax obligations. SuMi TRUST Holdings complies with all relevant tax laws, notices, and guidelines in each country where it operates and works to prevent tax avoidance activities.

Conclusion

SuMi TRUST Holdings’ compliance risk assessment framework is an essential component of its management principles, ensuring that the company conducts business activities fairly, transparently, and in accordance with applicable laws and regulations.