PANews June 19 News, according to Japan Economic News, the Financial Services Agency of Japan has issued a partial business suspension order to Moomoo Securities, an online brokerage under Futu. From June 19 to September 18, the company will suspend new customer account openings and acceptance of new clients, and has also issued a business improvement order, requiring strengthened internal management, clarification of responsibilities including management, and the development of a plan to prevent recurrence. The Financial Services Agency pointed out that Moomoo Securities falsely claimed to clients that some products not covered by the tax-exempt NISA (Nippon Individual Savings Account) scheme were NISA-eligible, allegedly violating the Financial Instruments and Exchange Act's prohibition on false statements. Additionally, the company has long failed to adequately verify and report suspicious transactions, and there are multiple deficiencies in internal controls such as cybersecurity.