MUFG CEO and executives' pay cut by 30% for 2-5 months due to breaches of confidentiality regulations involving client info sharing between MUFG Bank and Morgan Stanley.
MUFG, Japan's largest banking group, cuts CEO Hironori Kamezawa's and five other execs' pay by 30% for 2-5 months due to breaches of "firewall" regulations at its banking and securities arms. The Financial Services Agency discovered 26 cases of confidential client info sharing between MUFG Bank and a securities tie-up with Morgan Stanley. MUFG submitted a business improvement plan to the FSA.
July 19, 2024
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