Deep Tide TechFlow News, June 19 — According to Nikkei News, Japan's Financial Services Agency announced on June 19 that it has issued a partial business suspension order to moomoo Securities, requiring it to suspend new account openings from June 19 to September 18, for a period of three months. At the same time, the regulatory authority also issued a business improvement order, requiring the company to clarify responsibility, including management, and to develop a rectification plan to prevent recurrence.

According to disclosures, moomoo Securities engaged in improper conduct such as providing false information to clients regarding the applicability of Japan's Personal Savings Account System (NISA), and also faced multiple internal management issues including long-term deficiencies in suspicious transaction verification and reporting, as well as insufficient cybersecurity measures. moomoo Securities is a Japanese subsidiary of Futu Holdings.