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Violation Tracker UK Individual Case

Company: Bank of Tokyo Mitsubishi UFJ Limited
Current Parent CompanyMitsubishi UFJ Financial Group
Parent at the Time of the Penalty Announcement: Mitsubishi UFJ Financial Group
Penalty: £17,850,000
Year: 2017
Date: 9 February, 2017
Offence Group: financial offences
Offence Type: internal controls deficiency
Violation Description: The PRA found that BTMU breached Fundamental Rule 6 by falling to organise and control its affairs responsibly and effectively in respect of its handling of information relating to its settlement with the New York Department of Financial Services, which was publicly announced on 18 November 2014 and resulted in a USD 315,000,000 penalty. In particular, BTMU failed to put in place appropriate procedures, policies, systems and controls for the communication of relevant information relating to the matter within BTMU and the Mitsubishi UFJ Financial Group, of which it was a subsidiary.
Action Type: agency action
Agency: Prudential Regulation Authority
HQ Country of Parent: Japan
Ownership Structure of Parent: publicly traded
Major Industry of Parent: financial services
Specific Industry of Parent: banking
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