Prudential Financial (PRU) said Friday that Japan's Financial Services Agency issued business suspension and improvement orders to Prudential of Japan, while Gibraltar Life Insurance received a business improvement order and a partial suspension order over misconduct-related concerns.

Under the order, Prudential cannot solicit new business until Jan. 31, the company said.

Gibraltar's partial business suspension order, also concluding on Jan. 31, 2027, applies to its life consultant channel and not its independent agency channel, it said.

The companies must also submit business improvement plans to the agency by the end of November along with regular progress reports, they said.

The company said the measures will focus on strengthening governance, increasing accountability and making sales practices more customer-focused.

The suspension does not apply to the parent company's other Japanese operations, including PGIM and Prudential Gibraltar Financial Life, Prudential Financial said.