SEC Fines Mizuho Securities $1.25 Million For Data Security Failures

[kreslik.news]

Mizuho Securities USA, a US investment-banking subsidiary of the Mizuho Financial Group (NYSE: MFG), has agreed to pay $1.25 million to settle U.S. Securities and Exchange Commission charges that it failed to protect customer information.

In an order issued today, Mizuho Securities agreed to settle charges – without admitting or denying them – that its employees accessed and transferred “material nonpublic customer buyback information to other traders and Mizuho’s hedge fund clients”.

The SEC order states that over the course of around two years, Mizuho did not have proper controls to prevent the misuse of insider information and ... (read more)