Defendant Name:
Mizuho Securities USA LLC
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Mizuho Financial Group, Inc
SIC Code:
6719
CUSIP:
60687Y10
Document Reference:
34-98081
Document Details
Legal Case Name
In the Matter of Mizuho Securities USA LLC
Document Name
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Section 15(b) and 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
Document Date
08-Aug-2023
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
On August 8, 2023, the SEC instituted settled administrative and cease-and-desist proceedings against Mizuho Securities USA LLC, stating: "These proceedings arise out of the widespread and longstanding failure of Mizuho employees throughout the firm, including at senior levels, to adhere to certain of these essential requirements and the firm's own policies. Using their personal devices, these employees communicated both internally and externally by personal text messages, or other text messaging platforms such as WhatsApp about the business of the broker-dealer operated by Mizuho ("off-channel communications")."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Compliance Related Independent Consultant
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$25,000,000.00
Shared:
