Japan's top financial regulator issued business suspension and improvement orders to several of Prudential Financial's business units in the country.

Under an order from Japan's Financial Services Agency, the financial services firm's Prudential Life Insurance unit cannot solicit new business until Jan. 31, 2027. The life consultant channel of its Gibraltar Life Insurance division is also under suspension until the same date, Prudential said Friday.

The regulator also ordered both divisions, as well as Prudential Holdings of Japan, to submit business improvement plans by the end of November and report on their progress regularly.

The orders come after current and former sales employees at Prudential Life Insurance and Gibraltar Life Insurance solicited customers to invest or offered profit-making schemes in exchange for money, borrowed money from customers and violated other internal regulations regarding money, according to an earlier release from Prudential.

The divisions said Friday they are working to reshape how they operate.

"We are creating a business that will be more resilient, more accountable, and better equipped to earn and maintain our customers' trust," said Hiromitsu Tokumaru, president and chief executive officer of Prudential of Japan.