MUFG Securities EMEA fined $9.8m over ‘substituted compliance’ failures

Firm failed to implement measures to comply with applicable conditions, despite representations that it had done so.

The SEC has announced a settled enforcement action against MUFG Securities EMEA plc, a UK-based security-based swap dealer (SBSD) registered with the US securities regulator. The firm agreed to pay a $9.8m civil penalty and was censured for multiple violations of the Securities Exchange Act of 1934.

The SEC said the

Free Trial

Register for free to keep reading.

To continue reading this article and unlock full access to GRIP, register now. You’ll enjoy free access to all content until our subscription service launches in early 2026.

  • Unlimited access to industry insights
  • Stay on top of key rules and regulatory changes with our Rules Navigator
  • Ad-free experience with no distractions
  • Regular podcasts from trusted external experts
  • Fresh compliance and regulatory content every day
Register for free Already a member? Sign in