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Mizuho unit will pay $1.5-million penalty for swap dealer compliance failures -CFTC By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO. The Mizuho Financial Group logo can be seen in the headquarters of the company, Tokyo, Japan on August 20, 2018. REUTERS/Toru Hanai//File Photo

WASHINGTON (Reuters) – Mizuho Capital Markets LLC has agreed to pay $1.5 million to settle U.S. Commodity Futures Trading Commission (CFTC) charges the firm failed to comply with certain swap dealer requirements from 2013 until at least April 2021, the agency said on Monday.

According to a statement by the CFTC, Mizuho Bank’s unit agreed to pay the civil penalty as well as cease and desist any further violations in order to resolve CFTC claims that the bank failed to comply with requirements regarding reconciling swap portfolios, disclosures, reporting transactions and other related matters.

Mizuho did not immediately respond to a request for comment. A spokesperson did not confirm or deny that the CFTC found it.

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