In accordance with Financial Instruments and Exchange Act (the 'FIEA') Article 34-3 (2) and Article 34-4(6) (including the case where it is applied mutatis mutandis to the Banking Act of Japan Article 13-4) , regarding the 'Uniform Cut-off Date' for reclassification of investors for professional investor system, we SMBC Trust Bank Ltd. ('SMBC Trust') specify as follows;
・Uniform Cut-off Date: Every March 31st
(including holidays on the date, the same shall apply hereafter)
The expiry date for the customer, who is permitted to be reclassified from General Investor to Professional Investor, is the 31st day of March falling within one (1) year from the approval date by SMBC Trust.
(Reference) About Professional Investor System
Under the FIEA, investors are divided into 'Professional Investor' and 'General Investor' from the perspective of regulation flexibility, investment facilitation, and customer protection. If a customer falls into 'Professional Investor', certain requirements for customer protection, such as Delivery of Document Prior to Conclusion of Contract, are exempted.
A General Investor may be reclassified as a Professional Investor and vice versa upon the application from a customer and following prescribed process.
The above 'Uniform Cut-off Date', the expiry date of the reclassification from General Investor to Professional Investor upon the application from a customer and following prescribed process, is March 31st falling within one (1) year from the approval date by SMBC Trust. However, customers may terminate the reclassification at any time by application.
The 'Uniform Cut-off Date' is not applicable for the customer who is reclassified as a General Investor from a Professional Investor, since the said reclassification is effective until the customer gives notice to SMBC Trust.
SMBC Trust Bank Ltd.