Jul 9, 06:10 AM

HSBC Fined $3 Million Over MPF Scheme, Reuters Reports; MUFG Bank Probed for Insider Trading, Yomiuri Reports

HSBC has been fined $3 million for offering incentives to unauthorized agents around its MPF scheme, according to Reuters. Meanwhile, MUFG Bank is under investigation for an employee's alleged involvement in insider trading. The employee is suspected of leaking tender offer details and other non-public information about client companies to family members, who may have traded shares for millions of yen in profits, Yomiuri reports. Japan's securities watchdog conducted a probe at the headquarters of MUFG Bank and raided the employee's home and other locations on July 9.

#HSBC #Reuters #MUFG Bank #Yomiuri #Japan

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