07:41 AM EST, 01/05/2026 (MT Newswires) -- Sumitomo Mitsui Financial Group ( SMFG ) and Jefferies Financial's ( JEF ) joint venture in Japan has been cleared by the European Commission, according to a statement Monday.

The joint venture, SMBC Nikko Jefferies Securities, will focus on providing Japanese investment banking equity-related activities, the Commission said.

The transaction does not present competition risks due to its minimal footprint in the European Economic Area, the Commission said.

Shares of Sumitomo Mitsui and Jefferies were up over 1% and 0.1% respectively in recent Monday premarket activity.