Mizuho to pay $175,000 to settle US charges on fund deficiencies

WASHINGTON Thu Jan 3, 2013 11:30am EST

WASHINGTON Jan 3 (Reuters) - A unit of Mizuho Financial Group has agreed to pay $175,000 to settle civil charges by U.S. futures regulators related to allegations that the bank failed to hold enough funds in its secured accounts, the regulators said.

The Commodity Futures Trading Commission said Mizuho Securities USA Inc did not immediately report the deficiency to regulators and failed to properly supervise its employees.

The bank agreed to settle the matter without admitting nor denying the allegations.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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