Mizuho fined over deal contingent FX forwards

Mizuho corporate global office Tokyo - A.yatamoto-wikicommons.jpg — MIzuho's Tokyo headquarters

- By Rebekah Tunstead
- 26 Apr 2023

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New-York based Mizuho Capital Markets has been fined by the US Commodity Futures Trading Commission (CFTC) for failures around disclosures made to clients around pre-hedging of deal contingent foreign exchange forwards.

The entity – a US bank holding company fully owned by Japan’s Mizuho Financial Group – was fined $6.8 million by the regulator on April 25 for failing to adequately notify its customers it had been trading in the moments before it provided the rate for deal contingent FX forward

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