Japanese regulatory authorities plan to impose administrative sanctions on Moomoo Securities

According to Nihon Keizai Shimbun, the Securities and Exchange Commission of Japan (SESC) is considering recommending the Financial Department to impose administrative sanctions on Moomoo Securities, a Japanese subsidiary of Futu Holdings. The company was accused of falsely promoting financial products that did not meet NISA qualifications as applicable products during the sales process, exposing internal compliance management issues. If the proposal is approved, the Japan Financial Services Agency may take measures such as business improvement orders.