Mitsubishi UFJ Financial Group's (MUFG) investment banking venture with Morgan Stanley is facing potential penalties for sharing client information, leading to the loss of at least two bond deals in Japan. Aeon has dropped MUFG's investment banking unit from arranging a planned bond sale due to these issues. Japan's securities watchdog has recommended actions against MUFG Bank and its brokerages for illegally sharing client data, breaking firewalls between business units designed to protect such information. This situation puts MUFG at risk of losing more bond underwriting deals. Japan Securities Watchdog has been actively involved in this investigation.
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Japan watchdog recommends action on MUFG units over sharing of client data https://t.co/T63OcP24pp https://t.co/PobXJEXn5n
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Japan’s securities watchdog says Mitsubishi’s banking arm and its joint brokerage ventures with Morgan Stanley should be penalized after finding they broke firewalls between business units that protect client data https://t.co/0BqPDbks48
JAPAN SECURITIES WATCHDOG: RECOMMENDS ACTION AGAINST MUFG BANK AND BROKERAGES FOR ILLEGALLY SHARING CLIENT DATA
MUFG’s investment banking venture with Morgan Stanley is at risk of losing more bond underwriting deals as the financial regulators may consider penalizing the unit for sharing non-public information on client companies https://t.co/3bUswa8Pcn
Aeon said it dropped MUFJ's investment banking unit from arranging a planned bond sale as the underwriter was reported to be facing potential penalties for sharing client information https://t.co/DpCpqvzvwj
Mitsubishi’s investment banking venture with Morgan Stanley lost at least two bond deals in Japan after it was reported to be facing potential penalties for sharing client information https://t.co/UNKP2xSinq