Mitsubishi (MUFG) Penalized for Breaching Client Confidentiality
MUFG(MUFG) ZACKS·2024-06-17 23:25
SESC mentioned that MUFG Bank Ltd., Morgan Stanley MUFG Securities Co. and Mitsubishi UFJ Morgan Stanley Securities Co. shared confidential customer details on at least 10 occasions to attract more business. The exchange breached the regulatory firewalls that were established to prevent commercial and investment banking units from sharing client data. According to the SESC, the three firms knowingly shared non-public client data, including material information that could influence investment decisions, desp ...