Reported 8 months ago
Japan's Financial Services Agency has ordered the banking and securities units of Mitsubishi UFJ Financial Group (MUFG) to enhance compliance measures following breaches of 'firewall' regulations discovered by the securities watchdog. The breaches involved the unauthorized sharing of client information between MUFG Bank and its two securities tie-ups with Morgan Stanley. Penalties were imposed, and MUFG is working on submitting business improvement plans to the FSA.
Source: YAHOO