The U.K. Prudential Regulation Authority fined Bank of Tokyo-Mitsubishi UFJ, or BTMU, and its brokerage in London a record £27 million Thursday for delaying disclosure of a New York investigation for willfully violating U.S. sanctions. Any reputational damage from the 2014 inquiry by the New York State Department of Financial Services, or DFS, together with the prospect of a substantial fine, could have destabilized the "systemically significant" global bank, which is Japan's largest by assets, and affected the stability of "the U.K. financial system as a whole," the PRA said in a final notice. "Some in the market have viewed...
New York State's financial regulator fined Japan's largest bank for the second time in two years Tuesday for sanctions-related infractions, bringing the institution's total outlay to more than half of a billion dollars.
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