By Kosaku Narioka

Japan's securities watchdog has recommended administrative action be taken against Mitsubishi UFJ Financial Group's banking unit and its two securities joint ventures with Morgan Stanley.

Japan's Securities and Exchange Surveillance Commission said Friday that the banking unit and the two securities joint ventures shared clients' non-public information against the will of the clients.

The watchdog recommended Japan's Financial Services Agency take administrative action against MUFG Bank, Mitsubishi UFJ Morgan Stanley Securities and Morgan Stanley MUFG Securities.

Write to Kosaku Narioka at

(END) Dow Jones Newswires

06-14-24 0511ET