LME imposes £265,000 penalty on Mizuho for violating regulations

Fine Imposed: The London Metal Exchange fined Mizuho Securities USA £265,000 ($356,000) for failing to report over-the-counter positions of its affiliates, violating exchange rules.

Breach Details: The breach occurred between September 5, 2022, and December 20, 2024, due to a gap in Mizuho's internal systems and controls, which hindered their risk management obligations.

Remedial Actions: Following the investigation, Mizuho has taken remedial actions to address the issues identified by the LME.

Settlement Approval: The fine is part of a settlement approved by the LME's enforcement committee, although Mizuho declined to comment on the matter.