Japan hands business improvement orders to MUFG bank and securities tie-ups with Morgan Stanley-March 2024-www.financetom.com

Japan hands business improvement orders to MUFG bank and securities tie-ups with Morgan Stanley

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Japan hands business improvement orders to MUFG bank and securities tie-ups with Morgan Stanley

Jun 23, 2024 9:27 PM

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.

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