Defendant Name: Mizuho Securities USA LLC

Defendant Type: Subsidiary of Public Company
Public Company Parent: Mizuho Financial Group, Inc
SIC Code: 6029
CUSIP: 60687Y10

Initial Case Details

Legal Case Name In the Matter of Mizuho Securities USA LLC
First Document Date 23-Jul-2018
Initial Filing Format Administrative Action
File Number 3-18609
Allegation Type Broker Dealer

Violations Alleged

Other
• Section 15(g) Exchange Act

Resolutions

First Resolution Date 23-Jul-2018
Headline Total Penalty and Disgorgement $1,250,000

Related Documents:

34-83685 23-Jul-2018 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order and Sanctions
According to the SEC, "This matter concerns Mizuho's failure to maintain and enforce policies and procedures reasonably designed to prevent the misuse of material nonpublic customer order information concerning the repurchase of shares by issuers ("customer buyback order information"), in violation of Section 15(g) of the Exchange Act."
2018-140 23-Jul-2018 Press Release--Administrative Proceeding
SEC Charges Mizuho Securities for Failure to Safeguard Customer Information
The Commission stated that: "The Securities and Exchange Commission today charged Mizuho Securities USA LLC for its failure to safeguard information pertaining to stock buybacks by its issuer customers. Mizuho failed to maintain and enforce policies and procedures aimed at preventing the misuse of material nonpublic information, including maintaining effective information barriers between different trading desks and requiring employees to keep client information confidential. Mizuho agreed to settle the charges and will pay a $1.25 million penalty."