Compliance

The Resona Group's conceptual Structure expresses how we contribute society (Purpose), what we aim to be in society (Corpotrate Mission), what we aspire to be (Long-term Vision), and how we act (Resona Way / Resona Standards).

The introduction to the Resona Standards is "Aiming to Be a Good Company," a message from the top management. It takes a clear stance on compliance at the Resona Group, stating that corporate ethics must be improved, and identifies the most-important issues as 1) what the company can do for society as a member of society and 2) continuing to be a company that practices compliance.

Moreover, Resona Holdings and the Group companies have prepared a Basic Compliance Policy, which makes clear, from a compliance point of view, the roles of directors and employees as well as a basic framework for organizational systems based on the Corporate Mission and other statements. To put compliance into practice, we have also prepared a Compliance Manual that is distributed to all employees.

The protection of customer information is one of the most-important factors in enabling customers to use the Resona Group with peace of mind. We strive to properly manage information in compliance with the Act on the Protection of Personal Information by publicizing the Promise to Protect Personal Information of All Group Companies, establishing a framework for protecting against leaks or the loss of personal information, and conducting ongoing and thorough employee education.

The Resona Group believes that preventing and eradicating transactions with anti-social forces are critically important to its public mission and social responsibility as a financial institution. Our basic approach is not to engage in transactions with anti-social forces and to prevent them from intervening in transactions with customers through the corporate activities of Resona Holdings and other Group companies.

The Resona Group has established the following principles to follow as regards anti-social forces: "Respond as an organization," "Collaborate with external specialist organizations," "Eliminate all relationships whatsoever with such forces, including transactions," "In emergency situations respond under civil and criminal codes," and "Forbid all provision of favors, behind the scenes transactions, and provision of financing." The Resona Group has designated its compliance divisions of each Group company as the departments responsible for countering anti-social forces and has set specific internal rules and regulations, as well as providing ongoing training and education on these compliance issues for directors and employees. To prevent and nullify transactions with anti-social forces, we have formed cooperative relationships with law-enforcement agencies, law firms, and other professional organizations.

Moreover, Resona Group banks have taken more stringent steps to suspend transactions with anti-social forces by introducing a rule to ensure that we receive pledges with clauses (known as the "exclusion of anti-social forces clause") from our customers at the beginning of transactions stating that they currently do not and will not have connections with anti-social forces.

The pledges with such clauses provide a legal basis for the dissolution of the transactions in the event the customer breaks the pledge and is found to be connected with anti-social forces.

With reference to AML / CFT, international regulations have been tightening particularly in recent years where the Resona Group also is working to ensure thorough prevention.

As part of its commitment, we disclose AML / CFT Policy for better understanding of our policies and systems.

The Resona Group has established its Corporate Mission, which forms the basis for the judgments of directors and employees; the Resona Way (Resona Group Corporate Promises), which outlines the basic stance, based on the Corporate Mission, that directors and employees should take toward all Group stakeholders; and the Resona Standards (Resona Group’s Behavior Guidelines), specific guidelines about the behavior expected from directors and employees under the Corporate Mission and the Resona Way.

We have positioned compliance as one of our top priority management issues in our Basic Compliance Policy, defining compliance as the strict observance not only of laws and regulations, but also of social norms.

In addition, the Group supports the principle of anti-corruption enshrined in the UN Global Compact as a signatory company.

In line with these policies, we have established “The Resona Group Anti-Bribery & Corruption Policy” (hereinafter “this policy”) with the purpose of clarifying our approach to prevent corruption and set guidelines for actions shared by all Group members as part of our corporate social responsibilities.

The Resona Standards Handbook is distributed to all directors and employees of the Resona Group, providing them with action guidelines. This Handbook stipulates the prohibition of acts regarding bribery and corruption, such as “Do not misuse your position or authority for personal gain or advantage (III-2),” “Refrain from offering gifts or entertainment that could possibly induce public distrust or draw suspicion (VII-2)” and “Maintain transparent and clean relationships with politicians and government officials (VII-3)” in addition to featuring specific examples of desirable ways of thinking and situations that require caution. As such, the Group is striving to ensure that its prohibition against any form of corrupt act, including the provision or receipt of bribes, is upheld by all.

In all workplaces, the Resona Standards is read aloud by employees during morning meetings and other regular occasions to ensure that all employees are aware of and follow the standards. The Group also provides periodic training and e-learning programs which covers anti-corruption comprehensively to all employees (including part-time) and contractors as well as specific training sessions for targeted groups (e.g. specific positions, years of service), which raise their compliance awareness and literacy.

The Resona Group tracks and manages progress of the initiatives covering anti-corruption comprehensively as part of the Compliance Program, which sets forth the Group’s plan for maintaining rigorous compliance. The status of the Compliance Program and the implementation of the Policy on the Prevention of Corruption is periodically reported to the Board of Directors either annually or more frequently in order to maintain effective oversight and management structure on these issues.

In FY2021, there were 2 cases of disciplinary action due to what were found to be serious violations of this policy and other related regulations.
There were no fines, penalties, or settlements for violations of this policy or other related regulations.