August 28, 2014 / 7:21 AM / 3 years ago

Japan's FSA orders Kookmin Bank to halt making new transactions for 4 mths

TOKYO, Aug 28 (Reuters) - Japan’s Financial Services Agency said on Thursday that it had ordered South Korea’s Kookmin Bank to halt making new transactions at its Japan branches for four months starting Sept. 4 and submit a plan to improve its business operations.

The FSA said the decision came after it found that some former branch managers and employees at the bank’s Tokyo branch had executed inappropriate loans and committed other breaches of compliance. (Reporting by Takahiko Wada; Writing by Kaori Kaneko; Editing by Chris Gallagher)

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