Mizuho International plc - Brexit Preparations

Mizuho International plc (“Mizuho International”) is committed to ensuring continuity of investment banking services to its European Economic Area (EEA) clients and is finalising its Brexit plans to enable its EMEA business to continue to provide existing primary, secondary and advisory services to its (EEA) clients post-Brexit.

There currently remain some uncertainties surrounding Brexit, however Mizuho International will continue to monitor all Brexit developments and keep you updated with any relevant information regarding its plans for Brexit and how they might affect you. In the meantime, please see our FAQ section below which provides further information on Mizuho International’s Brexit work to date.

Please note that this communication only covers the securities business of Mizuho International plc based in London and not any other UK based Mizuho group entity (e.g. Mizuho Bank, London Branch). In the event that there are to be any changes as a consequence of Brexit to the business model of any other Mizuho entity, we would expect them to notify you separately.


Frequently Asked Questions


Q: I am trying to On-Board your new entity. Where can I find key KYC/AML information regarding MHEU?

We have prepared a table of information that should help provide information regarding MHEU. This information is also publicly available. Some of the documents, such as the Commercial Register are subject to change pending share capital registrations and new Directors being on-boarded to the entity

Articles of Association

Commercial Register

MHEU Wolfsberg Questionnaire

Signed Structure Chart

W-8BEN-E

Brexit - key information


Q: What are Mizuho International’s plans for Brexit?

In June 2018, Mizuho International incorporated a new 100% owned subsidiary (Mizuho Securities Europe GmbH (“MHEU”) in Germany which will be based in Frankfurt. Mizuho International is currently working with the German regulator, the BaFin, to obtain a financial services licence for MHEU which, following Brexit, will allow for a smooth and uninterrupted continuation of investment banking services by MHEU to EEA clients.

Brexit organisation chart

Q: Where will Mizuho Securities Europe GmbH be located in Frankfurt?

Taunustor 1, 60310 Frankfurt am Main, Germany.


Q: What are Mizuho International’s Brexit timelines?

Business activity in MHEU is expected to commence in early March 2019.

Formal individual EEA
client outreach will commence in September 2018 with the purpose of sharing knowledge and seeking feedback on client’s plans, which will be followed up with more detailed discussions over the course of Q4 2018 and Q1 2019.


Q: What are Mizuho International’s Operations’ preparations for Brexit?

Mizuho International intends to expand its existing London Operations team to enable it to provide a fully outsourced operations service to MHEU. To facilitate this model, Mizuho International is currently rolling out multi-entity systems so that both Mizuho International in London and MHEU in Frankfurt can be operationally serviced ‘side by side’. We are also progressing the opening of new external securities and cash accounts with our existing agent bank network to support MHEU and will share details of Standard Settlement Instructions (SSIs) for these new accounts with all our EEA clients once available.

As soon as MHEU’s BaFin financial services licence has been granted, we will distribute MHEU’s new Terms of Business with EEA
clients.

We have identified all our EEA clients and are in the process of contacting them to inform them of our intentions to move their accounts to MHEU. Immediately prior to MHEU becoming fully operational, we intend to automatically internally migrate EEA accounts to MHEU without any further action being required by clients.

Regular updates to this timeline will be provided.


Q: What are Mizuho International’s plans in the event of transition period being agreed?

In the event of a transition period being agreed this will not result in any fundamental change in the implementation plans for MHEU, however it may potentially allow for a more gradual shift of EEA business activities from Mizuho International to MHEU. We will continue to closely monitor Brexit developments and, if necessary, adjust our plans accordingly and keep you informed.


Q: What is the Legal Entity Identifier (LEI) of MHEU?

LEI: 213800G8QEXN34A2YG53.


Q: If you are domiciled outside of the EEA countries will anything change?

We do not anticipate there being any changes for non-EEA clients who will continue to deal directly with Mizuho International in London.


Q: Will MHEU provide research services to EEA clients

Research to all clients will continue to be provided through Mizuho International’s existing Research Portal, with EEA clients being granted access via MHEU which will also be responsible for invoicing its EEA clients for this service.

Thank you for your ongoing support and if you require any further information please do not hesitate to contact our Brexit Outreach Working Group at: mhi.brexit@uk.mizuho-sc.com


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