Japan's Financial Services Agency ordered MUFG to enhance compliance after unauthorised sharing of client info.
Japan's banking regulator ordered Mitsubishi UFJ Financial Group's (MUFG) banking and securities units to improve compliance measures due to multiple breaches of "firewall" regulations. MUFG Bank, Morgan Stanley MUFG Securities, and Mitsubishi UFJ Morgan Stanley Securities were penalised for unauthorised sharing of client information. The Financial Services Agency demanded business improvement plans and reports by July 24 to prevent recurrences of the breach.
June 24, 2024
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