To whom it may concern,
April 9, 2012
Sumitomo Mitsui Trust Holdings, Inc. (Securities Code: 8309
TSE, OSE and NSE)
Establishment of a Third Party Committee
On March 21 of this year, the Securities and Exchange
Surveillance Commission ("SESC") announced that they made a
recommendation to the Prime Minister and the Commissioner of
the Financial Services Agency to issue an order for payment
of an administrative monetary penalty against former Chuo
Mitsui Asset Trust and Banking Company, Limited ("CMAB", at
that time.), which is a subsidiary of Sumitomo Mitsui Trust
Holdings, Inc. The SESC recognized that former CMAB, acting
as an investment manager of a fund, violated the Financial
Instruments and Exchange Act (insider trading) with respect
to the sale and purchase of shares in July 2010.
Sumitomo Mitsui Trust Holdings, Inc. has already established
an internal special investigation committee comprised of
members, not only from within the company, but also outside
experts ("Special Investigation Committee"), and has arranged
for an additional investigation to fully understand this
matter and evaluate preventative measures. Additionally,
Sumitomo Mitsui Trust Holdings, Inc. hereby announces that it
has also established a Third Party Committee, which is
independent and consists of outside experts in order to
further evaluate and verify the adequacy of the scope,
method, process and other aspects of the investigation
conducted by the Special Investigation Committee. The
following are specific details regarding the purpose of the
Third Party Committee.
1. Purpose of the Third Party Committee
(1) To evaluate and verify the adequacy of the scope, method,
process and other aspects of the investigation conducted by
the Special Investigation Committee.
(2) To e valuate and verify the adequacy of the sufficiency
of the measures implemented to prevent the recurrence of a
similar act as evaluated by the Special Investigation
Committee.
(3) To propose additional measures to prevent a similar
incident from recurring, as necessary.
2. Constitution of the Third Party Committee
Chairman Kunio Hamada, Attorney at law (former Justice of the
Supreme Court) Commissioner Tetsuo Ito, Attorney at law
(former Deputy Prosecutor-General of the
Supreme Public Prosecutors Office)
Commissioner Masao Kishida (Professor of Waseda University
Graduate School of
Finance, Accounting and Law)
3. Schedule (tentative)
(1) April 9 (today) To establish the Third Party
Committee
(2) From early to mid-May To compile the report (which will
be released publicly)
End
For further information, please contact
IR Department, Sumitomo Mitsui Trust Holdings, Inc.
Telephone: +81-3-3286-8354 Fax: +81-3-3286-4654
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