Units of Mitsubishi UFJ Financial Group face possible penalties for sharing non-public information about client companies without their consent, people familiar with the matter said.
The Securities and Exchange Surveillance Commission is considering recommending administrative action against MUFG Bank, Mitsubishi UFJ Morgan Stanley Securities and Morgan Stanley MUFG Securities, said the people, who asked not to be identified because the matter is confidential.
MUFG Bank and the securities firms exchanged information about clients’ mergers and acquisitions without their consent, in violation of Japan’s Financial Instruments Law, the people said.
