The Japanese securities regulatory authority recommends administrative sanctions against moomoo Securities. The Japan SESC pointed out that moomoo Securities has issues such as mislabeling some non-qualifying US ETFs and ETNs as NISA-eligible investment products and selling them, improper customer handling, failure to process some securities transfer requests as required, insufficient review of suspicious transactions, and inadequate system and network security management. The regulator believes that its internal controls and compliance management have deficiencies that could harm investors' interests.