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£20 notes

Bank of Tokyo-Mitsubishi fined by regulator

The Prudential Regulation Authority (PRA) has imposed a fine of £17.85m on The Bank of Tokyo-Mitsubishi UFJ Limited (BTMU) and a fine of £8.925m on MUFG Securities EMEA plc (MUS(EMEA)) for failing to be open and cooperative with the PRA in relation to an enforcement action into BTMU by the New York Department of Financial Services (DFS).

HSBC Canary Wharf

HSBC said looking at asset and wealth management deals

HSBC is planning to pursue deals to expand in asset and wealth management as the bank seeks to capitalize on the growing funds of the middle class in Asia and diversify its business away from traditional lending, according to two people with knowledge of the plans.