Japan's FSA Orders moomoo Securities to Halt New Account Registration for 3 Months

According to the Financial Services Agency (FSA) of Japan, on June 19, moomoo Securities, a subsidiary of Futu Holdings, received a partial business suspension order halting new account registrations for three months through September 18. The FSA cited misconduct including providing false explanations of Japan's NISA system to clients, prolonged deficiencies in suspicious transaction monitoring and reporting, and inadequate cybersecurity measures. The company must establish responsibility within management and submit an improvement plan.
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