TOKYO, June 24 (Reuters) - Japan's banking regulator

handed business improvement orders on Monday to the banking and

securities units of Mitsubishi UFJ Financial Group ( MUFG )

after Japan's securities watchdog found multiple breaches of

"firewall" regulations.

The Securities and Exchange Surveillance Commission

recommended in mid-June that MUFG Bank and the group's two

securities tie-ups with Morgan Stanley ( MS ) be penalised for

what it said was unauthorised sharing of client information.