Japan’s Financial Services Agency issued a business improvement order to Mizuho Financial Group Inc. and its core banking unit as part of a penalty for the nation’s third largest lender following a series of system failures.
The financial watchdog is inspecting the bank’s overall system and governance, and the company must submit a report on its IT systems to the FSA by Oct. 29, it said in a statement on Wednesday.
Mizuho will review its planned system upgrade and assess what changes are necessary. It also needs to ensure that any updates won’t ...
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