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Finance

Ex-Mizuho traders fined in U.K. for 'market abuse' in Italian bond futures

Trio banned and ordered to pay almost $733,000 in penalties

A trio of bond traders have been fined for alleged market manipulation six years ago when they were employed by the UK-based subsidiary of Japan's Mizuho Financial Group. (Photo by Arisa Moriyama)

LONDON/TOKYO (Financial Times) -- U.K. regulators have imposed a ban and fines totaling nearly 600,000 pounds ($733,000) on three bond traders for "market manipulation" six years ago when they were employed by the U.K.-based subsidiary of Japan's Mizuho Financial Group.

The Financial Conduct Authority fined Diego Urra 395,000 pounds, and Jorge Lopez Gonzalez and Poojan Sheth 100,000 pounds each for market abuse and banned them from "performing any functions in relation to regulated activity," the watchdog said on Wednesday.

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