TOKYO (Reuters) – Japan’s largest banking group Mitsubishi UFJ Financial Group will cut the pay of six executives following the breaching of “firewall” regulations at its banking and securities arms, it said on Friday.
The monthly salaries of Group CEO Hironori Kamezawa and five other executives will be cut by 30% for between two and five months, MUFG said in a statement.
It also demanded that four former directors at the group’s banking and one of its securities arms return between 10% and 30% of three months worth of salary.
(Reporting by Anton Bridge; Editing by Christopher Cushing)
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