07:05 AM EDT, 06/24/2024 (MT Newswires) -- Mitsubishi UFJ Morgan Stanley Securities, Morgan Stanley MUFG Securities, and MUFG Bank were subject to administrative actions by Japan's Financial Services Agency for violating client confidentiality rules by sharing non-public client information with each other without the consent of clients, the regulator said on Monday.

The regulator said some of the shared information "contained material information that would impact investment decisions" and concluded that the three companies "had deficiencies in internal control environment for the management of information."

The regulator ordered the cited companies to establish an improvement plan and to report "analysis of facts and causes".

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