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

An image of Japan's MUFJ Bank's signage.
Photo: Tomohiro Ohsumi/Getty Images

Julie DiMauro

3 min read
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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

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