TOKYO, July 19 (Reuters) - Japan's largest banking group

Mitsubishi UFJ Financial Group ( MUFG ) will cut the pay

of six executives following the breaching of "firewall"

regulations at its banking and securities arms, it said on

Friday.

In June, the Financial Services Agency (FSA) ordered MUFG's

banking and securities units to submit business improvement

plans in the most high profile financial regulatory action in

Japan since the securities arm of rival Sumitomo Mitsui

Financial Group ( SMFG ) was indicted on market manipulation

charges in 2022.

The monthly salaries of Group CEO Hironori Kamezawa and five

other executives will be cut by 30% for between two and five

months, MUFG said in a statement.

It also demanded that four former directors at the group's

banking unit and one of its securities arms return between 10%

and 30% of three months worth of salary.

In mid-June, the FSA said it had found at least 26 cases

in which confidential client information had been shared between

MUFG Bank and one of the group's two securities tie-ups with

Morgan Stanley ( MS ) between 2020 and 2023.